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Midday Report: Nike Weighs on Dow on Disappointing Outlook; Crude Oil Slumps

Stocks claw back from their worst losses of the year on Tuesday, though disappointing earnings from Nike weigh heavily on the Dow.

Markets moved mostly higher after spending the morning in the red. Stocks clawed back from their worst losses of the year on Tuesday, though disappointing guidance from Nike (NKE) - Get Report weighed heavily on the Dow Jones Industrial Average. Existing home sales fell in February as constrained inventory failed to meet high demand. Sales of previously-owned homes declined by 3.7% last month. Crude oil fell again after U.S. inventories climbed at a faster pace than expected in the past week. Stockpiles increased for their tenth time in 11 weeks and rose by more than double expectations.  Sears (SHLD) slumped after voicing doubts in its annual report over its ability to continue as a going concern. The retailer could file for bankruptcy protection if it fails to raise two billion dollars this year.

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