The markets opened lower this morning with investors taking a bit of a break from the rally in the previous sessions, with concerns over China's economic outlook.
On the economic front, the Commerce Department is reporting a 1.1 percent decline in housing starts for February, to a seasonally adjusted annual rate of 698,000 units, falling just shy of economists expectations. However, import permits climbed to their highest level in more than 3 years.
Tiffany (TIF) posted fourth quarter earnings which edged down slightly but the company is forecasting higher sales for the year, sending shares higher today.
Shares of Michael Kors (KORS) also surged today on strong same store sales, up nearly 36 percent and the company also raised its fourth-quarter guidance.
Jefferies Group (JEF) posted first quarter results which beat expectations, due to strong growth from investment banking revenue.
Tomorrow, we'll take a look at the numbers for weekly mortgage applications, as well as earnings from General Mills (GIS) and Discover Financial (DFS).
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