Daily Market Update
with JJ Kinahan

5 min read

Headlights on Deere, Retail Earnings: Higher Costs Compete With Strong Demand

(Friday Market Open) What a difference a day makes. After a weak early start to the week, equities regained their mojo Thursday, with all 11 sectors solidly in the green. As Friday began, focus turned toward fresh earnings data and mixed markets overseas.

Deere (DE) was in the headlights early Friday after the company reported mixed results, coming in higher than Wall Street analysts had expected on revenue but missing earnings estimates. It was especially interesting to look past the headline numbers, because some of the trends affecting DE might reflect broader economic patterns worth watching.

For instance, DE talked about the high cost of raw materials and employees, with trucking expenses in focus. The company appears to be getting squeezed in these areas. They’re operating in a tough environment, but demand for their products is definitely there, as revenue data showed. DE shares fell 2% in pre-market trading.

Speaking of demand, Nordstrom (JWN) seems to be benefitting from it. The stock was up nearly 9% in pre-market trading after reporting excellent results highlighted by a big increase in online sales and same-store sales that grew 4%, up from analysts

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Daily Market Update

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