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 (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 (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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