Stocks Are In The Red

Markets are lower after Monday saw stocks bounce back after their worst week in two years.

The Dow is down 83 points, the S&P 500 is down 11 points, and the Nasdaq is down 29 points.

On the economic calendar, Markit’s services PMI report showed input cost growth in the services sector fell to a 15-month low in July.

We’re also looking for data on factory orders and ISM’s non-manufacturing PMI at 10:00 am ET.

Target shares are down more than 4% after the company slashed its earnings outlook and said costs related to its data breach would come in more than expected.

Shares of Coach are up better than 4% after the luxury accessories maker reported earnings and sales that beat expectations.

Gannett announced plans to split into two companies, separating its publishing business form its broadcasting and digital operations. The company also said it would acquire full ownership of Cars.com for $US1.8 billion. In pre-market trade, shares of Gannett were up more than 6%, but pared those gains to a 1.5% advance after the market open.

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