The markets were mostly in positive territory today as the latest economic data shows more signs of recovery for the job market.
The Labor Department is reporting a drop in the number of Americans filing first time unemployment benefits, down 22,000 last week to a seasonally adjusted 344,000. The four-week moving average of applications fell to 355,000.
Also on the economic front, the Commerce Department released a report which showed the U.S. economy grew at a 0.1 percent annual rate in the fourth quarter, marking the slowest rate of growth in almost 2 years.
Shares of JCPenney (NYSE:JCP) took a plunge after the the department store chain reported a steep drop in quarterly sales, prompting several price target cuts on the company's stock.
Fellow retailer Kohl's (NYSE:KSS) missed earnings expectations and the company's full-year profit forecast also fell short of expectations.
Tomorrow, we'll take a look at the consumer sentiment report as well as earnings from Best Buy (NYSE:BBY).
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