Business News


The direction of the markets may be influenced by Federal Reserve Chair Janet Yellen's testimony on Capitol Hill today and tomorrow. Investors are hoping for greater clarity on interest rates and the economy. (CNBC)

U.S. home resales fell sharply to their lowest level in nine months in January amid a shortage of properties on the market. The National Association of Realtors says existing home sales declined 4.9% to an annual rate of 4.82 million units. (Reuters)

Home Depot, the world’s No.1 home improvement chain, reported same-store sales rose 7.9% in the fourth quarter and said it would buy back $18 billion of its shares. Home Depot’s profits rose 36% to $1.38 billion. The company also raised its dividend 11%. (Fortune)

Northwest based fitness equipment maker Nautilus reported fourth quarter sales of $94.9 million, a 23% increase from last year. For the quarter, the company had a profit of nearly $10.4 million. Nautilus sells about 60% of its products directly to consumers, through phone or web sales, and about 40% through retailers. (Oregon Live)

The tech laden NASDAQ is on a tear to start the year, but just 5 stocks are contributing all the 218 point gain in the NASDAQ 100.  Those are:

Net Flix                         - 10 points
Gilead                           - 15 points
Biogen                          - 17 points
Amazon                        - 35 points
Apple                          - 141 points (CNBC)
 

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