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Deere Surges to Record After Beating Quarterly Profit Estimates

(Bloomberg) -- Deere & Co. jumped to a record after earnings beat the highest of analyst estimates, even as the world’s largest farm machinery maker trimmed its profit outlook for the year. Most Read from BloombergAs Coastline Erodes, One California City Considers ‘Retreat Now’How a Highway Became San Francisco’s Newest ParkPower-Hungry Data Centers Are Warming Homes in the NordicsMaryland’s Credit Rating Gets Downgraded as Governor Blames Trump NYC Commuters Brace for Chaos as NJ Transit Rail S

US manufacturing output falls in April on weak auto production

U.S. manufacturing production fell more than expected in April amid a sharp decline in motor vehicle output, and the sector could struggle to regain its footing in the second quarter because of tariffs. Factory output dropped 0.4% last month after an upwardly revised 0.4% gain in March, the Federal Reserve said on Thursday. Economists polled by Reuters had forecast production would slip 0.2% after a previously reported 0.3% rise.