In a blow to the optimism that had surrounded the housing sector in recent months, housing starts drop sharply in October to their lowest level in six months, the Commerce Department reports.

  Women’s clothing retailer Chico’s FAS Inc. reports Wednesday that its fiscal third-quarter profit surges more than expected after the company lowers discounts and controlled costs while selling more products at full price. That sends its shares up 11% in pre-market trading.

  A roundup of the latest corporate earnings reports and what companies are saying about future quarters.

  U.S. consumer prices increase a seasonally adjusted 0.3% in October as energy prices increase for the fifth time in six months to offset another rare decline in rents, the Labor Department reports.

  British supermarket and clothing retailer Marks &Spencer has poached Marc Bolland, the boss of rival Morrison Supermarkets, to be its new chief executive.

  European shares gained on Wednesday, rising for the fifth time in six sessions, with companies leveraged to an improving economy performing well.

  London shares moved higher on Wednesday, propelled by gains from miners, retailer Marks &Spencer and chocolate maker Cadbury.

  Among the shares expected to see active trade in Wednesday's session are those of Autodesk, BJ’s, Elbit Systems, Hershey, Salesforce, Sara Lee, Target and VimpelCom.

  Belgium’s KBC Group said that the European Commission has approved its restructuring plan and that it will be able to keep its combined insurance and banking model, though it will have to sell some assets.

  The U.S. dollar was on the defensive versus major rivals Wednesday, sinking as equities and commodities gained ground and signaled a comeback in investors’ appetite for risk.