Stocks rally at open; Shake Shack sizzles; Walmart vs Amazon

Wall Street in an upbeat mood after struggling a bit the past few days.  Stocks (^GSPC) heading higher as investors weigh better-than-expected news on jobs and some surprising headlines on inflation.

Yahoo Finance Senior Columnist Michael Santoli feels the Labor Department's report showing weekly jobless claims fell to 264,000 is further indication the job market is strong.

"It really is plumbing the low end of the range and as an overall percentage of the size of the working-age population, really low," he says. "I think a lot of people are looking at -- not too long in the future -- a sub-5% unemployment rate if this continues."

However, the government's gauge of wholesale inflation--the Producer Price Index-- showed a decline of 0.4% last month.

"It seems as if we're getting some more deflationary noises," Santoli adds. "We have to see how the bond market reacts, bond yields have been lifting.  And if we get a little reprieve from that, you're going to start to hear people say the Fed's not going to move soon."

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Shake Shack rocks

Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.

Shake Shack (SHAK) shares are soaring in early trading. The boutique burger joint raised it revenue outlook for the year after serving up a surprise first quarter adjusted profit of $0.04 a share, that was much better than the $0.03 per share loss analysts' were expecting. Revenue also topped estimates with sales jumping 56% from a year earlier thanks to strong same-store sales growth.

Kohl's (KSS) shares are falling this morning. The department store chain posting weaker-than-expected same-store sales growth due to the cold February in the first quarter. That weighed on revenue which slightly missed forecasts, but earnings per share came in way above analysts' estimates.

Related: Shake Shack soars; Kohl's gets clobbered; Penney raises sales outlook

J.C. Penney (JCP) shares are on the move in early trading. The department store chain's turnaround efforts may be showing some encouraging signs. Penney's raised its sales forecast for the year after posting a narrower-than-expected loss in the first quarter. Revenue was in line with Wall Street views as sales rose 2% from a year earlier.

Cisco Systems (CSCO) shares also in focus. The networking equipment maker reporting first quarter earnings and revenue that slightly beat forecasts. The company reporting revenue rose 5% from a year earlier thanks to solid sales of its switching systems. This comes as Chief Executive Officer John Chambers prepares to hand the reins to Chuck Robbins at the end of July.

Walmart vs. Amazon

The world's biggest retailer is taking on the largest online store.  Walmart (WMT) is testing a new unlimited shipping service for $50 a year, about half the price of Amazon Prime (AMZN). For now, Walmart's service is being offered on an invitation only basis.

Fiat Chrysler's (FCAU) Jeep is apparently planning to enter the luxury SUV market. Bloomberg reports that the vehicle would rival the Range Rover and could command up to $100,000 dollars.

College enrollment is dropping as millennials head back to work. A new report finds that spring enrollment dropped nearly 2% from last year. Community colleges and for-profit institutions were among the hardest hit.