The US markets rebounded on Wednesday afternoon despite tensions escalating in the Middle East. The Western nations of the world are still contemplating a military response in Syria which could impact equity, fixed income and commodity prices.
In economic news, the National Association of Realtors reported its Pending Home Sales Index declined 1.3% to a reading of 109.5. This marks the second straight month of declines for the index, possibly indicating that higher mortgage rates are slowing the housing recovery.
In corporate news, Zale (NYSE:ZLC) reported fiscal fourth quarter loss of $8 million, or 25 cents per share, as revenue climbed to $417.1 million. The company said despite the loss in the fourth quarter, it was still able to post a full year profit -- the first since 2008.
After the bell, investors will have earnings from Fresh Market (NASDAQ:TFM) and Guess? (NYSE:GES). Before the market opens on Thursday, earnings reports from Campbell Soup (NYSE:CPB), Corinthian Colleges (NASDAQ:COCO) and Golar LNG (NASDAQ:GLNG) will be released.
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