Stocks continued to decline after disappointing numbers came in for weekly jobless claims, with the Labor Department reporting an unexpected gain of 9,000 last week to a seasonally adjusted 429,000. That is more than economists expected.
Also in economic news, the Commerce Department posted a 2.1 percent drop in new home sales in May, to a seasonally adjusted 319,000, which was higher than analysts expected.
On the earnings front, homebuilder Lennar (LEN) reported a plunge in fiscal second quarter profit today, although results still exceeded analyst expectations.
Shares of Bed, Bath and Beyond (BBBY) are trading up today, after the company posted an increase in first quarter earnings that exceeded expectations. Following that strong earnings report, Goldman Sachs upped it's price target for the home furnishings retailer, as well it's EPS estimates.
Burger chain Sonic (SONC) reported a third quarter loss, but adjusted earnings of $0.21 per share, beat expectations.
Tomorrow, we'll get a look at GDP, as well as durable goods orders.
For MarketNewsVideo.com, I'm Sayoko Murase.
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