It was a mixed day for the markets as investors considered the latest economic data from the Labor Department which showed some signs of recovery in the job market.
On the economic front, the number of Americans filing for unemployment benefits fell 6,000 to a seasonally adjusted 361,000, according to the Labor Department.
Meanwhile, the four-week moving average for new claims increased to 368,250.
The Commerce Department is reporting a 0.2 percent drop in wholesale inventories in June, marking the biggest decline in almost a year.
Kohl's (NYSE:KSS) beat earnings expectations, despite a 20 percent drop in second quarter net income due to weak sales. The retailer also lowered its full year earnings forecast.
IN M&A news, National Oilwell Varco (NYSE:NOV) announced it will buy Robbins and Myers (RBN) for $2.54 billion. The acquisition will help the company expand its product line and the deal is expected to close in the fourth quarter.
Tomorrow, we'll get earnings results from JC Penney as well a look back at the week's top stories.
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