It was a mixed open on Wall Street today with the markets heading into negative territory following the release of the latest Fed minutes.
The Commerce Department is reporting a sharp drop in housing starts, which fell 8.5 percent to a seasonally adjusted annual rate of 890,000 last month.
Meanwhile, applications for U.S home mortgages fell 1.7 percent last week, according to the Mortgage Bankers Association. This marks the second week of declines.
On the earnings front, Toll Brothers reported quarterly results which fell short of expectations, due to a decline in home prices. Shares of the nation's largest luxury homebuilder are trading lower today.
In M&A news, Office Depot (NYSE:ODP) and Office Max (NYSE:OMX) confirmed a merger today which had been rumored for some time. The combined company would have reportedly have had a revenue of $18 billion in 2012.
Tomorrow, we'll take a look at the numbers for weekly jobless claims as well as earnings from Wal-Mart (NYSE:WMT).
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