Durable goods orders climbed 2.8% in January, better than expected. Consumer prices fell 0.7% in January with oil falling and food rising. (Commerce Department)
Sears reported a narrower quarterly loss of $159 million as it slashed costs and will launch a planned property trust by June, raising at least $2 billion for the struggling U.S. retailer. Sales at comparable stores dropped 4.4%, with Sears showing a 7% decline and Kmart stores a 2% drop. (Reuters)
Kohl's reported a 10.5% rise in quarterly profits, helped by higher sales of apparel and accessories in the holiday shopping season. Net sales rose 4%. (Reuters)
Shop local? China has dropped major global tech brands-including Apple, Cisco, and Intel from its approved state purchase lists, while approving thousands of local vendors. (Reuters)
Anheuser-Busch InBev, the world's largest brewer, raised its dividend 46% and announced $1 billion share buyback program. It forecast improved beer sales, particularly with the growth in emerging markets of higher priced premium brands such as Budweiser, 60%of which is now sold outside the United States. (Reuters)
The S&P 500 is up 1 and the NASDAQ is up 4. The MSCI International Index was up 0.10% yesterday.
Oil is up 98 cents at $50.01 a barrel, after settling up 3.5% yesterday and snapping a five-day losing streak on improved views on global oil demand. (Reuters)