U.S. Stocks Open Lower As Earnings Disappoint, Oil Stumbles

U.S. stocks opened lower on Wednesday, as disappointing earnings reports by companies like Walt Disney Co. , Macy's Inc. and Staples Inc. weighed on the broader market. A retreat in crude oil prices added to the selling pressures in the equity market, a day after the S&P and the Dow logged their largest daily gain in about two months. The S&P 500 was down 5 points, or 0.2%, to 2,079. The Dow Jones Industrial Average lost 69 points, or 0.4%, to 17,858 at the open. Meanwhile, the Nasdaq Composite began the session down 13 points, or 0.3%, at 4,797.

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