The markets extended their losses amid lackluster economic data and worries over the euro zone but stocks made a bit of a recovery this afternoon after the latest Fed minutes suggested stimulus may be on the way.
On the economic front, Existing home sales rose by a less than expected 2.3 percent in July, to an annual rate of 4.47 million units. Meanwhile, the median sales price was higher than a year ago.
The Mortgage Bankers Association is reporting a drop in weekly mortgage applications due to a jump in mortgage rates.
In earnings news, Toll Brothers (NYSE:TOL) said that third quarter profit was up 46 percent as the luxury homebuilder saw a sharp increase in new orders.
Chico's (NYSE:CHS) beat earnings expectations as its second quarter net income increased 22 percent.
The women's clothing retailer also raised the low-end of its 2012 revenue outlook.
Tomorrow, we'll take a look at the numbers for weekly jobless claims as well as earnings results from Hormel Foods(NYSE:HRL) and Big Lots (NYSE:BIG).
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