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Tariff fallout; China's oil trade; Remington bankruptcy

1. Trade war fears: Wall Street is bracing for more fallout from President Donald Trump's tariff ann...

Posted: Mar 26, 2018 1:23 PM
Updated: Mar 26, 2018 1:23 PM

1. Trade war fears: Wall Street is bracing for more fallout from President Donald Trump's tariff announcements.

US Treasury Secretary Steve Mnuchin calmed nerves a little on Sunday, telling Fox News that he was "cautiously hopeful" the United States and China could reach an agreement that would avert the tariffs.

"As President Trump said, we're not afraid of a trade war, but that's not our objective," he said.

Trump said Thursday that he would impose tariffs on about $50 billion worth of Chinese imports after accusing the world's second biggest economy of stealing US intellectual property.

On Friday, Trump's global tariffs on steel and aluminum, which also include China, went into effect. China has announced its own tariffs on $3 billion worth of US imports.

2. Shanghai oil trading: The Shanghai International Energy Exchange launched crude oil futures trading on Monday. It's the first time oil futures will be traded in Asia, with prices settled in Chinese yuan.

Data from Wood Mackenzie show China surpassed the United States to become the world's largest importer of crude in 2017. Its import requirements are expected to grow by more than any other country over the next five years.

"China would want to play a more active role in influencing the price of crude oil," said Sushant Gupta, Wood Mackenzie's research director.

3. Global market overview: US stock futures were pointing up.

Markets in Europe and Asia were mostly higher following heavy losses at the end of last week.

The Dow Jones industrial average closed 1.8% lower on Friday, dropping to its lowest point since November. The S&P 500 shed 2.1% and the Nasdaq declined 2.4%.

US crude futures were 0.8% lower on Monday.

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4. Earnings and economics: Uber is selling its business in Southeast Asia to local rival Grab, the companies said in a statement Monday. Uber had already admitted defeat in China and Russia.

British retailer JD Sports Fashion has announced a deal to buy Finish Line for $558 million. Shares in JD Sports Fashion were trading 3.5% higher in London.

Remington Outdoor Brands, one of the oldest and best-known gun makers in the world, filed for bankruptcy on Sunday. The move allows Remington to stay in business while restructuring its massive debt.

The French statistics agency said the country's economy grew by 0.7% in the fourth quarter. GDP growth for 2107 was 2%.

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5. Coming this week:
Tuesday - Lululemon earnings; US consumer confidence
Wednesday - Blackberry, Gamestop and Walgreens Boots Alliance earnings; US fourth-quarter GDP final look
Thursday - Constellation Brands earnings; UK fourth-quarter GDP final look; US personal spending and consumer sentiment
Friday - US markets closed for Good Friday

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 307519

Reported Deaths: 7096
CountyCasesDeaths
DeSoto20772248
Hinds19888408
Harrison17489302
Rankin13311275
Jackson13097243
Madison9895210
Lee9856169
Jones8290160
Forrest7523146
Lauderdale7187237
Lowndes6262144
Lamar610584
Lafayette6027117
Washington5280132
Bolivar4769129
Oktibbeha455297
Panola4442103
Pearl River4419139
Warren4280118
Marshall4273100
Pontotoc416472
Monroe4057132
Union403675
Neshoba3987176
Lincoln3869108
Hancock372085
Leflore3468124
Sunflower329389
Tate322681
Pike3180104
Scott310572
Yazoo304368
Alcorn297764
Itawamba296776
Copiah292965
Coahoma289677
Simpson287484
Tippah284668
Prentiss275659
Marion265779
Wayne261341
Leake261073
Grenada254982
Covington254580
Adams245882
Newton244859
George237847
Winston225981
Tishomingo222067
Jasper219748
Attala213273
Chickasaw204857
Holmes186471
Clay182454
Stone179131
Clarke176876
Tallahatchie175240
Calhoun163230
Yalobusha158836
Smith158534
Walthall130543
Greene129433
Lawrence126223
Noxubee125933
Montgomery125542
Perry125138
Carroll120826
Amite120041
Webster113432
Jefferson Davis105432
Tunica102525
Claiborne101330
Benton97225
Kemper95226
Humphreys94332
Franklin81823
Quitman78916
Choctaw72817
Jefferson64828
Wilkinson64727
Sharkey49617
Issaquena1686
Unassigned00

Alabama Coronavirus Cases

Cases: 518899

Reported Deaths: 10712
CountyCasesDeaths
Jefferson753641487
Mobile37763798
Madison33859494
Tuscaloosa25266443
Montgomery23962565
Shelby23106238
Baldwin20631300
Lee15524165
Calhoun14284311
Morgan14139268
Etowah13662345
Marshall11957219
Houston10380278
Elmore9993200
Limestone9811147
Cullman9470188
St. Clair9426234
Lauderdale9215227
DeKalb8746181
Talladega8058171
Walker7087275
Jackson6754110
Autauga6723103
Blount6483135
Colbert6203130
Coffee5399112
Dale4767110
Russell428838
Franklin419982
Chilton4083109
Covington4053114
Tallapoosa3893146
Escambia387674
Dallas3527149
Chambers3499122
Clarke346360
Marion3065100
Pike305875
Lawrence295395
Winston272372
Bibb256258
Marengo248661
Geneva245875
Pickens232959
Barbour224755
Hale218775
Butler212266
Fayette208960
Henry187844
Cherokee182044
Randolph176941
Monroe171440
Washington164038
Macon154548
Clay149354
Crenshaw149257
Cleburne146041
Lamar139234
Lowndes136453
Wilcox124327
Bullock121340
Conecuh109028
Perry107926
Sumter102932
Coosa99228
Greene90734
Choctaw58724
Out of AL00
Unassigned00
Tupelo
Clear
85° wxIcon
Hi: 86° Lo: 50°
Feels Like: 82°
Columbus
Clear
83° wxIcon
Hi: 84° Lo: 48°
Feels Like: 81°
Oxford
Clear
81° wxIcon
Hi: 83° Lo: 48°
Feels Like: 79°
Starkville
Clear
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Hi: 84° Lo: 47°
Feels Like: 80°
Sunshine continues into the work week with temperatures climbing well above average on Monday. But as clouds increase with slight rain chances into mid-week, we may see temperatures a bit cooler than average toward the end of the week.
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