Closing Bell: Stocks Close Lower; Macy's Posts Worst Day in 8 Years

Stocks fluctuated Wednesday, but ended with losses after lower oil prices and declining retail sales took a toll on the energy and retail sectors. Macy's (M) was the talk of the day as shares tumbled Wednesday more than 14 percent, after the retailer reported lagging sales of winter clothing because of warmer weather and a decline in tourists visiting Macy's flagship store locations, according to their CEO. Energy and oil company Marathon Oil (MRO) took a hit of nearly 8% as lower oil prices pressured the sector. This comes after the American Petroleum Institute reported that U.S. crude stockpiles increased 6.3 million barrels last week, which was more than expected. Cisco Systems (CSCO) is expected to report earnings Thursday. The company is estimated to report 51 cents per share, up from the 48 cents per share reported a year earlier.