Midday Report: Nordstrom Falls on Weak Margins; Crude Drops

U.S. stocks endured another day of slight losses as worries over crude oil persisted. Crude pulled below $30 a barrel as hopes of a production freeze agreement from OPEC members began to fade. Nordstrom (JWN) tumbled after increased promotions over the recent quarter hit margins. The retailer heavily discounted its goods, while an unseasonably warm start to the winter deterred consumers from shopping. Applied Materials (AMAT) jumped after besting analysts' quarterly estimates on its top- and bottom-line. However, the chipmaker did suffer weaker demand in its recent quarter with sales down 5% and new orders dropping 6%. Best Buy (BBY) slipped after Goldman Sachs downgraded to NEUTRAL from BUY. TheStreet's Keris Lahiff has details from Wall Street.