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 (NYSE: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 (NYSE: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 (NYSE:GIS) and Discover Financial (NYSE:DFS).
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