Remarks by German Chancellor Angela Merkel gave the markets a boost today, amid economic data which showed more signs of weakness in the US housing sector.
The number of Americans filing for unemployment benefits last week rose 2,000 to a seasonally adjusted 366,000, according to the Labor Department. That number was in line with expectations. Meanwhile, the four-week moving average fell close to a 4-year low, to 363,750.
Also on the economic front, the Commerce Department is reporting a 1.1 percent drop in housing starts in July, to a seasonally adjusted annual rate of 746,000 units.
Cisco (NASDAQ:CSCO) beat earnings expectations, due to job cuts and price reductions. The company also hiked its dividend from 8 cents to 14 cents a share.
Shares of Walmart(NYSE:WMT) are trading lower today, after the retailer forecast full-year profit which may fall short of expectations.
Tomorrow, we'll take a look at the consumer sentiment report as well as earnings results from JM Smucker (NYSE:SJM)
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.