Tariff reaction; Brexit speech; Earnings pain

1. Tariff reaction: Traders around the world are demonstrating their disapproval of President Trump'...

Posted: Mar 2, 2018 1:17 PM
Updated: Mar 2, 2018 1:17 PM

1. Tariff reaction: Traders around the world are demonstrating their disapproval of President Trump's plans for heavy tariffs on steel and aluminum imports.

Investors are worried Trump's protectionist stance could set off a wave of retaliatory moves that would hurt businesses from South Korea to Canada.

The United States is the world's biggest importer of steel and aluminum, so the introduction of import tariffs is expected to ripple throughout the global economy.

European markets declined in early trading, with some indexes down by more than 1%. Asian markets closed with losses.

Steelmakers were hard hit. In Europe, ThyssenKrupp was down 3%, Salzgitter dropped by nearly 5% and ArcelorMittal was off by nearly 4%. China's Baoshan Iron & Steel and Japan's Nippon Steel both dropped nearly 4%.

US stock futures were negative. The Dow Jones industrial average dropped 1.7% on Thursday, the S&P 500 fell by 1.3% and the Nasdaq declined 1.3%.

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2. Brexit focus: UK Prime Minister Theresa May will deliver what's billed as a major speech on Brexit.

According to excerpts from the speech, she will say that Britain and the EU should be able to forge a deeper and broader free trade agreement than anywhere else in the world.

May has said that she wants trade between the UK and Europe to be "as frictionless as possible" after Brexit.

But what will be possible outside the EU's internal market and customs union?

"There can be no frictionless trade outside of the customs union and the single market," Donald Tusk, president of the council of all 28 EU member states, said on Thursday. "Friction is an inevitable side effect of Brexit. By nature."

3. Stock market movers -- Gap, Nordstrom, American Outdoor Brands: Shares in Gap were up 9% premarket after the company reported better-than-expected earnings.

Shares in Nordstrom were down 4% premarket after the retailer published disappointing results on Thursday.

Shares in American Outdoor Brands were set to tank 12% after it posted rough quarterly earnings. The company, which owns the Smith & Wesson brand, reported a 33% drop in sales from the previous year, and profits that sank 65%.

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4. Coming this week:

Friday - Earnings from Foot Locker, JCPenney and JD.com, University of Michigan releases its final Consumer Sentiment Index for February

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 308737

Reported Deaths: 7139
CountyCasesDeaths
DeSoto20931250
Hinds19961410
Harrison17562303
Rankin13369277
Jackson13156243
Madison9950212
Lee9890170
Jones8310161
Forrest7542148
Lauderdale7221237
Lowndes6289144
Lamar613384
Lafayette6072117
Washington5291133
Bolivar4776129
Oktibbeha457197
Panola4458103
Pearl River4437141
Warren4299119
Marshall4286102
Pontotoc417572
Monroe4062132
Union404675
Neshoba4005176
Lincoln3886109
Hancock373385
Leflore3471124
Sunflower331589
Tate325384
Pike3215105
Scott311472
Yazoo305069
Alcorn299465
Itawamba297877
Copiah293965
Coahoma290479
Simpson289586
Tippah285168
Prentiss276659
Marion266279
Leake261773
Wayne261541
Grenada256484
Covington255280
Adams246982
Newton245761
George238547
Winston226081
Tishomingo222567
Jasper220048
Attala213673
Chickasaw205457
Holmes187172
Clay183254
Stone179733
Clarke177776
Tallahatchie176140
Calhoun165431
Yalobusha160136
Smith159334
Walthall131043
Greene129633
Lawrence126623
Noxubee126534
Montgomery125742
Perry125238
Carroll120926
Amite120741
Webster113832
Jefferson Davis105532
Tunica103225
Claiborne101330
Benton97525
Kemper95628
Humphreys94632
Franklin82923
Quitman78916
Choctaw73917
Wilkinson65128
Jefferson64828
Sharkey49817
Issaquena1686
Unassigned00

Alabama Coronavirus Cases

Cases: 521623

Reported Deaths: 10739
CountyCasesDeaths
Jefferson754061493
Mobile39067799
Madison34040496
Tuscaloosa25367444
Montgomery24019567
Shelby23186239
Baldwin20701302
Lee15589165
Calhoun14342311
Morgan14158271
Etowah13685346
Marshall11995220
Houston10404278
Elmore10011200
Limestone9852147
Cullman9503189
St. Clair9463234
Lauderdale9265228
DeKalb8757181
Talladega8115171
Walker7139275
Jackson6756110
Autauga6750103
Blount6519134
Colbert6229130
Coffee5424113
Dale4772111
Russell430038
Franklin420782
Chilton4101109
Covington4061114
Tallapoosa3907146
Escambia390174
Dallas3525149
Chambers3514122
Clarke347060
Marion3072100
Pike306176
Lawrence295995
Winston273172
Bibb256059
Marengo248361
Geneva246075
Pickens233259
Barbour226455
Hale218575
Butler212967
Fayette209460
Henry188044
Cherokee182644
Randolph177241
Monroe172540
Washington165238
Macon155648
Clay150155
Crenshaw149457
Cleburne146741
Lamar139734
Lowndes136553
Wilcox124427
Bullock121640
Conecuh109428
Perry107626
Sumter103232
Coosa99428
Greene91434
Choctaw58824
Out of AL00
Unassigned00
Tupelo
Cloudy
66° wxIcon
Hi: 69° Lo: 55°
Feels Like: 66°
Columbus
Cloudy
65° wxIcon
Hi: 69° Lo: 56°
Feels Like: 65°
Oxford
Cloudy
61° wxIcon
Hi: 65° Lo: 52°
Feels Like: 61°
Starkville
Cloudy
63° wxIcon
Hi: 68° Lo: 54°
Feels Like: 63°
Some spotty showers will move through our area this morning but should clear out by the afternoon. We should see some breaks in the clouds and temperatures reaching the mid to upper 60s.
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