U.S. Markets Open Higher Despite Weak Economic Data

TheStreet

U.S. Markets opened higher on Wednesday as investors kept a close eye on earnings as well as geopolitical tensions. Applications for U.S. home mortgages fell last week. Loan requests for both purchase and refinancing applications declined despite rates not changing from the week before. Retail Sales were unexpectedly little changed in July. The Commerce Department reported the American consumer held back last month making July's reading the weakest since January. Shoppers were not in a buying mood and that also put Macy's (M) in the spotlight. The Department store chain reported disappointing earnings before the opening bell. Macy's also cut its full-year sales forecast. King Digital (KING) shares slid in early trade after the maker of the Candy Crush video game missed Wall Street's expectations on second-quarter revenue and cut its full year outlook.