Stocks Ended Sharply Lower as Disney, Retailers Weighed

U.S. stocks ended lower on Wednesday, weighed by sharp losses in retail shares and a steep drop in entertainment giant Walt Disney Co. after disappointing quarterly results. The Dow Industrial Average fell 217.23 points, or 1.21%, to  17,711.12. The S&P 500 dropped 19.93 points, or 0.961%, to 2,064.46. The Nasdaq Composite was down 49.19 points, or 1.02%, to 4,760.69.

Oil futures soared past $46 a barrel on Wednesday to settle at their highest level in more than six months. June West Texas Intermediate crude tacked on $1.57, or 3.5%, to settle at $46.23 a barrel. Brent crude added $2.08, or 4.6%, to end at $47.60 a barrel.

Google passed judgment on the payday loan industry Wednesday, saying advertisements for these short-term, high-interest-rate products will be banned from the internet giant’s ad systems.

Alaska Airlines and JetBlue Airways still rank highest in the annual J.D. Power survey of passengers on the nine largest North American airlines, and the firm says overall traveler satisfaction with the industry is at a 10-year high.

Institutional investors to a US$2.5bn loan to back the merger between Staples (SPLS.O) and Office Depot (ODP.O) will have their commitments repaid and be forced to redeploy their money into a credit market where opportunities are scarce after the two supply retailers called off the deal.