The markets got off to a positive start this morning fueled by better than expected economic news and a strong retail sales report.
The Commerce Department is reporting that retail sales increased in July for the first time in 4 months, with a 0.8 percent increase, beating economists' expectations.
Business inventories inched up just slightly, up 0.1 percent in June, according to the Commerce Department. This follows a gain of 0.3 percent in May.
Among retailers, Michael Kors (NYSE:KORS) beat earnings expectations and also upped its full-year earnings forecast, sending shares higher today.
TJX (NYSE:TJX) posted a 21 percent increase in second quarter net income, and the discount retailer also boosted it's full-year earnings outlook. TJX shares were also trading higher today.
Tomorrow, we'll take a look at the numbers for weekly mortgage applications as well as earnings results from Target (NYSE:TGT) and Cisco (NASDAQ:CSCO).
For Marketnewsvideo.com, I'm Sayoko Murase.