All the major indices were sharply lower today on the heels of President Barack Obama's re-election.
On the economic front, the Mortgage Bankers Association is reporting a 5 percent drop in weekly mortgage applications last week, due to Hurricane Sandy which battered the Northeast.
Kraft Foods (NASDAQ:KRFT) said earnings for the third quarter rose 13 percent.  The newly independent packaged food-maker also backed its outlook for 2013.
Time Warner (NYSE:TWC) beat earnings expectations, while revenue fell 3 percent, missing expectations of $6.98 billion.
Also among earnings Macy's (NYSE:M) also topped earnings estimates but issued weak guidance for the holiday season.  
Tomorrow, we'll take a look at the numbers for weekly jobless claims as well as earnings from Disney (NYSE:DIS) and Nordstrom (NYSE:JWN).
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