Mixed retail earnings reports

Home Depot reported quarterly profits rose to $1.47 billion from $1.38 billion a year earlier. Sales rose to $20.98 billion. The company raised its quarterly dividend by 17% and announced a $5 billion share buyback plan. Same-store sales, rose 8.9% in the United States. Home Depot benefited from rising home prices, combined with job, wage…

Continue Reading

A Little Inflation?

U.S. inflation in January climbed by the most in nearly 4-1/2 years. The Consumer Price Index, excluding the volatile food and energy components, increased 0.3% last month. In the 12 months through January, the CPI advanced 2.2%, the largest increase since June 2012. Last month, the rental index increased 0.3%, medical costs climbed 0.5%. Apparel…

Continue Reading

The Deere Runs Downhill

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,…

Continue Reading

Three in a Row

U.S. producer prices rose 0.1% in January but lower energy prices and a strong dollar keep inflation in check. In the 12 months through January, the PPI decreased 0.2%. In January, energy prices fell 5.0%. Wholesale food prices rose 1.0%. (Labor Department) U.S. housing starts fell 3.8% in January to an annual pace of 1.1…

Continue Reading

A Three Day Rally?

Columbia Sportswear handily beat Wall Street profit forecasts. Columbia Sportswear’s fourth-quarter profits totaled $63.4 million. Sales totaled $699.4 million, up 3% from a year earlier. For the year, sales grew 11% to $2.3 billion, a record. The company forecast slower growth this year, in part due to the strong U.S. dollar. (Oregon Live) The lower…

Continue Reading

A Second Rally Day?

U.S. consumer spending for retail sales excluding automobiles, gasoline, building materials and food services increased 0.6% in January after declining 0.3% in December. Consumer spending accounts for more than two-thirds of U.S. economic activity. Consumer spending is being supported by a strengthening labor market, which is starting to lift wages. (Reuters) U.S. import prices fell…

Continue Reading

1 61 62 63 64