A key economic measure fell in January. The Leading Economic Index declined 0.2% in January to 123.2. Stock price declines and weakness in initial claims for unemployment insurance were behind the dip. In spite of the decline, the economy is still on pace for moderate expansion. (The Conference Board)
John Deere's quarterly performance beat expectations, as the company continues to deal with weak sales of farm and construction equipment. Deere costs and expenses declined 12% during the quarter. Deere had profits of $254.4 million, down 35% from a year earlier. Sales totaled $5 billion. Sales for the agriculture and turf unit dropped 12%. Construction and forestry division sales fell 23%. (AP)
Nordstrom reported disappointing results for the holiday season. The Seattle-based company had a profit of $180 million. The Company had sales of $4.14 billion in the quarter. Sales in stores open at least a year rose 1%. Nordstrom operates more than 300 locations in the United States and Canada. Nordstrom expects full-year earnings in the range of $3.10 to $3.35 per share.