Deere Surges to Record on Optimism for Upturn in Farm Economy

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 due to the impact of Donald Trump’s tariffs.

Investors are betting the worst is over for Deere as farm markets stabilize and frictions between China and the US over tariffs seem to be abating, paving the way for a recovery in sales next year.