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Major U.S. Markets Open Higher, S&P Near its All Time High


Major U.S. markets opened higher. The S&P 500 is near its all-time high. Investors will keep a close eye on the meeting of top central bankers in Jackson Hole, Wyoming. Fewer Americans applied for unemployment benefits than expected last week. The Labor Department reported weekly jobless claims fell by 14,000 to 298,000, analysts were expecting 300,000. Sears Holdings (SHLD), the operator of both Sears and Kmart Stores reported a wider-than-expected loss for the second quarter. This is the ninth straight quarterly loss for Sears. Victoria's Secret parent company, L Brands (LB) beat Wall Street's expectations by a penny on quarterly results. The retailer also raised its full year earnings outlook. Carl Icahn has nearly an 8.5% stake in Hertz Global Holdings (HTZ). The billionaire activist investor says the shares are 'UNDERVALUED' and plans to talk to management on its issues. Icahn's disclosure helped Hertz shares rebound after the stock plummeted once the company withdrew its guidance for 2014.