US stocks weaken; Walmart earnings; HSBC stumbles

1. More volatility?: US stock futures are pointin...

Posted: Feb 20, 2018 3:06 PM
Updated: Feb 20, 2018 3:06 PM

1. More volatility?: US stock futures are pointing down on Tuesday after investors had a long weekend to consider their next moves.

The Dow Jones industrial average and S&P 500 are set to start trading on the back foot following a six-day winning streak.

Global stock markets dropped sharply earlier this month, with many falling by about 10%. They've been in recovery mode since then.

European markets are mostly rising in early trading, though the gains are modest.

Most Asian markets ended the day with losses. The Nikkei in Tokyo dropped 1%.

2. Takeover time: Shares in Rite Aid are surging on Tuesday after Albertsons agreed to buy the drug store company and its thousands of stores.

Rite Aid recently struck a deal with Walgreens Boots Alliance worth $4.4 billion to hand over nearly 2,000 of its stores. Albertsons is now buying the rest.

The deal has been designed in such a way that, once completed, the privately held Albertsons will become a publicly traded company on the New York Stock Exchange.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

3. Earnings: Walmart and Home Depot are two of the bigger names reporting earnings ahead of the opening bell.

Walmart, the nation's largest private-sector employer, beat Wall Street forecasts last quarter and posted impressive online growth. Since then, Walmart has announced that it is both raising pay and shutting 63 Sam's Clubs locations, so executives will have a lot to talk about.

Home Depot has also been in the headlines, announcing plans last week to add 80,000 seasonal or permanent part-time workers, the same number it hired last year. To make it easier to fill the jobs it is allowing applicants to schedule interviews online for the first time.

Additionally, Cracker Barrel, Domino's Pizza, Gannett, MGM Resorts and Six Flags are releasing earnings before the open. Transocean and La-Z-Boy plan to release earnings after the close.

4. Market movers -- HSBC, InterContinental Hotels: Shares in HSBC are dropping by about 4.5% in London as investors reacted to the global bank's latest annual results and news that it plans to raise up to $7 billion in new capital in the first half of this year.

Fiona Cincotta, a senior market analyst at City Index, said the earnings showed "a disappointing loss of momentum," rising exposure to bad debts and profit margins that were under pressure.

Investors were also left disappointed that the company didn't announce a new plan for share buybacks.

"Overall, though, the bank is in far greener pastures than it was a few years ago," Cincotta said.

Shares in InterContinental Hotels Group are also dropping by about 5% in London after the hotel chain reported its latest annual results.

Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now!

5. Coming this week:

Tuesday - Home Depot and Walmart earnings
Wednesday - FOMC minutes released
Thursday - Hewlett-Packard Enterprise and Chesapeake Energy earnings
Friday - Potbelly earnings

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 296745

Reported Deaths: 6783
CountyCasesDeaths
DeSoto19731230
Hinds18881393
Harrison16780282
Rankin12787265
Jackson12643229
Lee9703161
Madison9484203
Jones8005147
Forrest7250138
Lauderdale6847227
Lowndes6033140
Lamar590980
Lafayette5747113
Washington5229130
Bolivar4620124
Oktibbeha442194
Panola432396
Pearl River4193132
Warren4138115
Pontotoc410771
Marshall404492
Monroe3993128
Union396474
Neshoba3822170
Lincoln3564104
Hancock350277
Leflore3389119
Sunflower319286
Tate303374
Pike301796
Scott295271
Alcorn292463
Yazoo290865
Itawamba290275
Coahoma282069
Tippah279565
Copiah279259
Simpson276680
Prentiss271158
Wayne254541
Leake253172
Marion252778
Covington249780
Grenada248578
Adams235078
George232445
Newton231252
Winston221979
Jasper213845
Tishomingo212965
Attala206870
Chickasaw201453
Holmes182770
Clay179251
Stone173029
Tallahatchie171439
Clarke169672
Calhoun158528
Smith153033
Yalobusha145536
Greene127933
Walthall124540
Noxubee123131
Montgomery122939
Perry122235
Lawrence120621
Carroll119025
Amite112235
Webster111132
Jefferson Davis102731
Tunica99523
Claiborne99129
Benton93924
Humphreys93027
Kemper90423
Quitman77414
Franklin76219
Choctaw69817
Jefferson62827
Wilkinson62427
Sharkey49117
Issaquena1676
Unassigned00

Alabama Coronavirus Cases

Cases: 498076

Reported Deaths: 10094
CountyCasesDeaths
Jefferson716711387
Mobile36294737
Madison32616468
Tuscaloosa24340421
Montgomery22739519
Shelby22174218
Baldwin19873289
Lee15039157
Calhoun13832293
Morgan13753254
Etowah13390325
Marshall11448211
Houston10124264
Elmore9483190
Limestone9420138
St. Clair9022227
Cullman8984182
Lauderdale8612214
DeKalb8489175
Talladega7606165
Walker6585259
Jackson6545104
Autauga632492
Blount6236127
Colbert6001121
Coffee5264103
Dale4671107
Russell406933
Franklin399878
Covington3993106
Chilton3898103
Escambia379173
Tallapoosa3622143
Clarke344053
Chambers3431111
Dallas3422142
Pike293373
Marion288695
Lawrence284985
Winston258368
Bibb246160
Geneva240370
Marengo238857
Pickens225457
Barbour213651
Hale212269
Fayette202057
Butler201466
Henry183541
Cherokee178039
Monroe166739
Randolph164840
Washington156836
Macon147745
Crenshaw146255
Clay145954
Cleburne139841
Lamar133733
Lowndes132751
Wilcox122925
Bullock117336
Conecuh107024
Perry106127
Sumter99732
Coosa90224
Greene88532
Choctaw55323
Out of AL00
Unassigned00
Tupelo
Cloudy
51° wxIcon
Hi: 63° Lo: 42°
Feels Like: 51°
Columbus
Partly Cloudy
56° wxIcon
Hi: 67° Lo: 42°
Feels Like: 56°
Oxford
Cloudy
48° wxIcon
Hi: 59° Lo: 42°
Feels Like: 44°
Starkville
Partly Cloudy
54° wxIcon
Hi: 65° Lo: 41°
Feels Like: 54°
WTVA Radar
WTVA Temperatures
WTVA Severe Weather