Macy's reported a 7.4% decline in first-quarter sales, the fifth straight quarter of decline, as customers cut back on buying apparel and the strong dollar discouraged tourists from buying. The CEO says he sees continued weakness in consumer spending. Macy's shares are down more than 10% in 2016 and are more than 52% lower in the past 12 months. (Bloomberg)
Kohl's first-quarter results missed estimates as profits fell and sales were down almost 4% from a year earlier. Sales at stores open at least a year, a key gauge of a retailer's health, declined 3.9%. Kohl shares are down more than 6% in early trading. (AP)
Jack in the Box stock is up more than 10% in early trading as the fast-food operator reported profits climbing 26% from a year-ago. Sales were $361 million in the quarter essentially flat from a year ago. Better margins and cost controls were key reasons for the better-than-expected profits. (Market Watch)
This is a bright spot for a company working through tough economic times. Caterpillar says the heavy equipment maker is poised to move quickly into the Cuban market once the U.S. trade embargo is lifted. (Reuters)
MSCI International Index is flat.
Oil is up 59 cents at $46.82 a barrel.
Gold is down $6 at $1270 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.