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Investors Weigh Better than Expected Economic Reports in Midday Trading

U.S. stocks are down but trying to pick up after falling on this morning's fresh Economic data. The better than expected reports have investors once again weighing economic growth versus interest rates rising. The ISM service index climbed to its biggest reading in nine years for July at 58.7. Separately, Factor Orders for U.S. goods rose 1.1% in June. The highest level in twelve years. Shares of Coach (COH) are up despite reporting North America sales decreased. The handbag designer did post earnings that beat expectations. Target (TGT) is down after cutting its Q2 earnings outlook. The big box retailer is taking a hit from last year's holiday data breach. Other reasons Target gives for lowering guidance include higher promotions and costs of paying down retirement debt. Gannett (GCI) is splitting into two publicly traded companies, one digital and the other print. The owner of USA Today is also buying the remaining stake it has in cars.com for $1.8 billion. More earnings after the bell from Disney (DIS), Papa John's (PZZA) and Zillow (Z).