Housing starts jumped to their highest level in nearly 7-1/2 years in April and permits soared. Starts surged 20.2% to an annual pace of 1.14 million units, the highest since November 2007. The percent increase was the biggest since February 1991. Permits for future home construction jumped 10.1% to a 1.14 million-unit rate, the highest since June 2008. Permits have been above a 1 million-unit pace since July. (Reuters)

Lowe's saw sales and profit rise in the first quarter to $673 million. Sales climbed to $14.13 billion. Same store sales rose 5.2%. Lowe's maintained its projections for earnings of about $3.29 per share for the year, with sales rising 4.5% to 5%. (AP)

The retailer Target posted first-quarter earnings of $1.10 per share, up from 70 cents a share last year. Revenue rose to $17.12 billion. Target has started a $2 billion cost-savings plan. In March, the retailer outlined plans to lay off 1,700 workers. The company last month closed the last of its 133 Canadian stores. The Company also raised its minimum wage to $9 an hour for all workers starting last month. (CNBC)