It was a choppy day of trading on Wall Street as investors took in the latest round of earnings reports.
The Mortgage Bankers Association released data that showed mortgage applications rose 3.4 percent from a week earlier, despite an increase in interest rates.
The U.S. Postal Service announced today there will no more mail delivery on Saturdays. Packages will continue to be delivered six days a week. The agency has been struggling financially and this latest move will reportedly save $2 billion a year.
CVS Caremark (NYSE:CVS) posted a better than expected quarterly profit, sending shares higher today. The drugstore retailer also boosted its earnings forecast for the year.
Ralph Lauren (NYSE:RL) said its third quarter profit was up 27 percent, thanks to a strong holiday shopping season. Earnings blew past expectations and the company also offered an upbeat outlook.
Tomorrow, we'll take a look at the numbers for weekly jobless claims as well as earnings from Credit Suisse (NYSE:CS).
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