Another Oregon Company Gets Bought

Orders for manufactured goods surged in April, but continued to see weakness in business spending. Durable goods orders jumped 3.4% last month after an upwardly revised 1.9% increase in March. Manufacturing accounts for 12% of the economy. (Commerce Department) U.S. home sales in April rose 5.1% moth over month, hitting the highest level in a…

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Sears and Costco: Two halves of retail

Stocks are higher following the best two-day rally since March. The S&P 500 and Nasdaq are coming off their highest closes in nearly a month. (CNBC) Total mortgage applications climbed 2.3% week over week. Applications are 24% higher than one year ago. Mortgage applications to purchase a home rose 5% for the week and up…

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Tight new home inventory

The rally of yesterday is looking at a second day in early trading. Tuesday the S&P 500 had its biggest one-day gain since March 11th. (Seeking Alpha) New single-family home sales surged 16.6% to an annual rate of 619,000 units, the highest level since January 2008. Prices hit a record high. With tight supply, the…

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Yuan not a Market Currency

Best Buy’s first-quarter profits climbed 78% to $229 million. Sales fell 1.3% to $8.4 billion in the quarter. Sales at U.S. Best Buy stores open at least a year fell 0.1%. The stock is down over 5% in early trading on a poor sales forecast going forward and the departure of the CFO. (USA Today)…

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Starting a new week on an up note

Stocks are essentially flat this morning. Friday’s surge pushed the S&P 500 to break a three-week losing streak and the Nasdaq to end a streak of four down weeks in a row. (CNBC) U.S. existing home sales increased 1.7% in April to an annual rate of 5.45 million units. Home sales surged in the Midwest…

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Lots of money being borrowed

Those green machines, Deere & Co, cut its money making forecast as they suffer through a global farm recession and weak construction equipment markets. The company forecast 2016 sales will decline 9%. Deere profits fell to $495.4 million. Sales decreased 4% to $7.88 billion. (Reuters) The index of leading economic indicators shot up 0.6% in…

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