Despite an encouraging positive jobs report, investors remained cautious as the euro dropped to its lowest level in 16 months.
It was good news all around for the job market as we saw a drop in claims, a surge in private sector jobs, and a decline in the number of planned layoffs.
The ADP Employment report showed that 325,000 private sector jobs were created in December, far more than economists expected.
The government's weekly jobless claims fell 15,000 to 372,000, with the four-week moving average down to 373,250, that's the lowest level in 18 months.
Taking a look at some results from retailers, Macy's (NYSE:M) boosted its outlook for the fourth quarter, and posted strong same store sales.
It was a similar story for Limited (LTD) and Zumiez (NASDAQ:ZUMZ), but there were a few misses including Target (NYSE:TGT) which fell short of expectations and lowered its outlook for the fourth quarter. Costco also missed expectations, largely due to a drop in online sales.
Tomorrow, we'll be keeping tabs on the Labor Department's monthly report, as well as earnings from Family Dollar (FDO).
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