Business News

Nordstrom's Tanks

It is Friday the 13th and markets are a little skittish. US stocks are lower this morning. The Nasdaq is headed toward a fourth consecutive losing week and the Dow and S&P 500 to a third straight week of losses. (CNBC)

Nordstrom shares are down 17% in early trading. The upscale department-store chain says its profits fell by 64% in the first quarter to $46 million. Sales came in at $3.2 billion, up 2.5% from a year ago. (USA Today)

Wal-Mart is taking another step in competing with Amazon. The world's largest retailer is moving its free-shipping pilot program to two days from a three.  They are also cutting the membership price to $49 per year. Wal-Mart's program is named ShippingPass, allows users to purchase more than one million items at For now, it is only a pilot. (AP)

U.S. import prices rose in April for a second straight month led by petroleum products. Import prices increased 0.3%. But the prices for imported goods declined 5.7% percent in the last 12 months. Imported petroleum prices increased 4.1% and imported food prices jumped 1.3%. (Reuters)

Join us this weekend for Financial Focus Radio when we will tell you why you should not be spooked by election season.

MSCI International Index is down 1%.

Oil is down 50 cents at $46.20 a barrel.

Gold is up $5 at $1277 a Troy ounce.

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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