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Jerome Powell speaks; Steel tariffs; Big earnings day

1. Powell talks, markets listen: US Federal Reserve chair Jerome Powell will appear before the Senat...

Posted: Mar 1, 2018 12:46 PM
Updated: Mar 1, 2018 12:46 PM

1. Powell talks, markets listen: US Federal Reserve chair Jerome Powell will appear before the Senate Banking Committee on Thursday.

The new central bank chief made investors nervous on Tuesday, when comments made before the House Financial Services Committee suggested faster-than-expected interest rate hikes.

Powell took over from former Fed boss Janet Yellen less than a month ago, and investors are still hungry for clues on how he will steer the central bank.

2. Tariff talk: President Trump could slap new, high tariffs on steel and aluminum imports on Thursday, according to media reports.

The Commerce Department sent Trump several recommendations last month, including across-the-board tariffs and stiffer targeted penalties on certain nations that sell steel and aluminum in the US.

Both metals are crucial raw material for autos, airplanes and appliances made in the US. The construction, oil and utility industries use the metals for beams, pipelines and wires, as well as cans for food and drinks.

Imports make up about a third of the 100 million tons of steel used by American businesses every year.

"Trade protection [of this kind] remains a key risk to our generally optimistic economic and market view," said Paul Donovan, global chief economist at UBS Wealth Management. "The trend towards protectionism is ... worrying for markets."

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3. Earnings: AMC Entertainment, Barnes & Noble, Best Buy, Kohl's and Sotheby's will report quarterly results.

Gun-maker American Outdoor Brands, along with Equifax, Gap and Nordstrom will release earnings after the close.

Shares in Anheuser-Busch InBev shot 6% higher in Brussels after the brewer reported results.

Shares in advertising conglomerate WPP were down 14% in London after it told investors that 2017 "was not a pretty year."

4. Auto focus: US auto manufacturers will report February sales data on Thursday.

5. Global market overview: US stock futures were soft and European markets dipped in early trading.

Asian markets ended the day with mixed results.

The Dow Jones industrial average dropped 1.5% on Wednesday and the S&P 500 and Nasdaq also declined.

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6. Coming this week:

Thursday - Earnings from Best Buy, Kohl's, Nordstrom, Gap and Barnes & Noble; Powell testifies before the Senate Banking Committee
Friday - Foot Locker and JCPenney earnings

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 143879

Reported Deaths: 3676
CountyCasesDeaths
DeSoto956999
Hinds9541193
Harrison6825105
Jackson6068116
Rankin523796
Lee480294
Madison4602102
Forrest367185
Jones344687
Lauderdale3343142
Lafayette313347
Washington3088106
Lamar281849
Bolivar237883
Oktibbeha237760
Lowndes228362
Neshoba2171113
Panola211047
Marshall207247
Leflore200789
Pontotoc193227
Monroe189577
Sunflower189554
Lincoln183964
Warren172157
Tate163349
Union160125
Pike160058
Copiah158840
Yazoo150638
Scott149929
Coahoma147342
Itawamba145533
Alcorn143724
Simpson143553
Pearl River142967
Prentiss139526
Grenada136344
Adams135948
Leake131643
Holmes124461
George121623
Tippah120930
Covington117234
Winston115824
Wayne115722
Hancock114137
Marion110746
Attala106233
Tishomingo106042
Newton102829
Chickasaw102332
Tallahatchie94727
Clarke88253
Clay86726
Jasper81121
Walthall74328
Stone72314
Montgomery71925
Calhoun71213
Carroll70514
Lawrence69914
Noxubee69017
Smith68616
Yalobusha67926
Perry65225
Tunica59519
Greene58422
Claiborne57416
Jefferson Davis54117
Humphreys52518
Amite50814
Benton48217
Quitman4786
Webster41614
Kemper40815
Wilkinson38422
Jefferson34011
Franklin3185
Sharkey30617
Choctaw3057
Issaquena1114
Unassigned00

Alabama Coronavirus Cases

Cases: 234080

Reported Deaths: 3459
CountyCasesDeaths
Jefferson30620491
Mobile19306358
Tuscaloosa12501148
Madison12410146
Montgomery12040232
Shelby980576
Baldwin826984
Lee753964
Morgan618247
Calhoun5997113
Etowah590564
Marshall581953
Houston507038
DeKalb463535
Cullman412636
Limestone404544
St. Clair398455
Elmore393961
Lauderdale382953
Walker349096
Talladega335942
Colbert296341
Jackson291924
Blount276336
Autauga263439
Franklin244833
Coffee233415
Dale226654
Dallas220231
Russell21803
Chilton216937
Covington212533
Escambia194431
Tallapoosa169290
Chambers168048
Pike155514
Clarke155419
Marion134535
Winston123723
Lawrence122436
Geneva11748
Marengo116924
Barbour116110
Pickens115318
Bibb114217
Butler113741
Randolph99821
Cherokee98924
Hale91631
Washington90018
Clay89423
Fayette84416
Henry8426
Lowndes78729
Monroe76811
Cleburne74414
Crenshaw70330
Macon70020
Bullock69019
Conecuh66814
Perry6686
Lamar6267
Wilcox62418
Sumter55322
Choctaw41713
Greene40217
Coosa3074
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