1) Retail earnings are mixed. Lowe's had a great quarter, 5.1 percent same store sales growth was close to the 5.8 percent reported by Home Depot Tuesday. Earnings were a penny above estimates, and revenue beat forecasts as well
Lowe's also raised its full-year forecast by 5 cents to $2.65, as well as its guidance for same store sales.
Read More Lowe's earnings, revenue top expectations
The problem I have with Lowe's stock is its expensive. It's at an historic high, trading at 22 times forward earnings.
Jack in the Box, which also owns Qdoba, reported same store sales up 3.1 percent for the fourth quarter, above expectations. The company echoed many restaurateurs, noting commodity inflation of 3.2 percent last quarter, but unlike most they were able to raise prices.
It is providing 2015 same store sales guidance of 1.5 to 2.5 percent growth. It's full-year guidance of $2.73 to $2.81 brackets the $2.81 consensus estimate.
Read MoreOK, Home Depot you tricked us … but why?
Staples reported earnings at 37 cents, a penny short, but more importantly a 12 percent decline from the same period last year. Comparable store sales were down 4 percent, the seventh straight drop. Traffic was down, and order size was flat. Staples is still closing stores. It's been a terrible performer for years.
La-Z-Boy reported adjusted quarterly earnings of 36 cents per share, two cents above estimates, though revenue did come in below forecasts. The furniture maker also raised its quarterly dividend by 33 percent to eight cents per share.
Target also reported great numbers, 54 cents per share versus guidance of 40 to 50 cents. Same store sales were up 1.2 percent, above guidance. Canadian same store sales were also up 1.6 percent. Fourth quarter guidance is slightly disappointing at $1.13 to $1.23, a bit below implied guidance of $1.22 to $1.32, but that is likely conservative.
Read More Target earnings beat, sending shares higher
Courtney Reagan will have an interview with the Target CEO at 12:15 p.m. ET on CNBC's Fast Money Halftime Report.