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Big GDP report; Amazon delivers; Chipotle surges

1. Great expectations: The US government releases its first look at second quarter GDP at 8:30 a.m. ...

Posted: Jul 27, 2018 12:36 PM
Updated: Jul 27, 2018 12:36 PM

1. Great expectations: The US government releases its first look at second quarter GDP at 8:30 a.m. ET, and it could be big.

Economists surveyed by Thomson Reuters are predicting economic growth will top 4%.

The combination of tax cuts and a tight labor market may have helped power growth during the quarter. Some economists say trade concerns may have boosted the numbers too, as countries raced to import US goods before tariffs took effect.

The American economy has been growing for nine years, making this the second-longest boom on record.

2. Amazon delivers: The tech company has topped $2 billion in quarterly profit for the first time in its history, an impressive run fueled by continued growth in Prime subscriptions, cloud computing and its nascent advertising business.

Amazon said Thursday that it earned $2.5 billion in profit for the three months ending in June, a staggering jump from the $197 million it posted in the same period last year.

It marked the third consecutive quarter that Amazon has topped $1 billion in profit, a remarkable feat for a company once known for investing so much in its business that it often lost money.

Shares in Amazon were up in premarket trade.

3. Disney deal: Disney's acquisition of most of 21st Century Fox is about to become official. Fox shareholders are scheduled to meet on Friday and are expected to approve the deal.

Comcast was bidding for the same assets but dropped out earlier this month.

During the bidding war, Fox's market value surged 36%. Disney may now have the most formidable content portfolio in all of Hollywood, adding to an already impressive stable that includes Marvel, Pixar and LucasFilm.

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4. Market movers: Twitter stock is down 15% premarket after the messaging platform reported earnings ahead of the open. The company saw its user base shrink in the second quarter.

Shares in Expedia and Chipotle were among the top gainers in premarket trading.

Facebook shares bounced back 2% premarket after sustaining record-breaking losses on Thursday.

Shares in Chinese e-commerce firm Pinduoduo, which shot up 40% during their Nasdaq debut on Thursday, were set to rise another 7%.

Intel and Electronic Arts dipped premarket as investors reacted to their latest earnings.

5. Deal makers: Shares in BHP advanced 4% in London after the company announced it sold its US shale assets for $10.8 billion. Most were purchased by UK energy giant BP.

Chesapeake Energy also made a deal: The firm announced it was selling all its shale land in Ohio to Encino Acquisition Partners for about $1.9 billion. Chesapeake stock surged 10% premarket.

6. Global market overview: US stock futures were holding steady.

European markets were mostly edging up in early trading. Asian markets ended the day with mixed results.

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7. Coming this week:

Friday - Exxon Mobil and Merck report earnings; 21st Century Fox holds shareholder meeting; US reports Q2 GDP data

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 154411

Reported Deaths: 3836
CountyCasesDeaths
DeSoto10409104
Hinds10279202
Harrison7313112
Jackson6566128
Rankin5887106
Lee529496
Madison5014107
Forrest389786
Jones369088
Lauderdale3594147
Lafayette338253
Washington3246108
Lamar297850
Oktibbeha252362
Lowndes247064
Bolivar244384
Panola232653
Neshoba2249121
Marshall222851
Leflore208591
Monroe206778
Pontotoc204231
Lincoln197366
Sunflower192655
Warren180258
Tate177751
Union171926
Copiah167940
Pike165359
Yazoo160140
Scott159430
Itawamba157635
Alcorn155628
Pearl River155368
Coahoma152743
Simpson152653
Prentiss151331
Adams144752
Grenada143345
Leake139744
Holmes133461
Covington128639
Tippah128430
George128325
Winston125526
Hancock124341
Wayne121323
Marion119446
Attala119334
Tishomingo112443
Chickasaw109432
Newton108229
Tallahatchie98127
Clay94727
Clarke93653
Jasper85223
Stone80615
Calhoun78713
Walthall77629
Montgomery76926
Carroll74115
Lawrence73814
Smith73216
Yalobusha73128
Noxubee72717
Perry68326
Tunica62619
Greene61522
Jefferson Davis59017
Claiborne58916
Amite56615
Humphreys54719
Benton50018
Quitman5007
Webster46714
Kemper45018
Wilkinson40522
Jefferson37112
Choctaw3617
Franklin3555
Sharkey32417
Issaquena1204
Unassigned00

Alabama Coronavirus Cases

Cases: 252900

Reported Deaths: 3638
CountyCasesDeaths
Jefferson33526501
Mobile20103365
Madison13723151
Tuscaloosa13366154
Montgomery12552236
Shelby1079677
Baldwin9051137
Lee787266
Morgan696451
Calhoun6598121
Etowah656167
Marshall647357
Houston541038
DeKalb498137
Cullman462443
St. Clair441956
Limestone440445
Lauderdale426754
Elmore421164
Walker3735111
Talladega370157
Jackson340423
Colbert332042
Blount306140
Autauga281842
Franklin257434
Coffee250015
Dale239054
Dallas231532
Chilton228939
Russell22663
Covington225034
Escambia202331
Tallapoosa187291
Chambers182750
Pike161514
Clarke161019
Marion144736
Winston137523
Lawrence133436
Pickens126518
Geneva12508
Marengo123424
Bibb120418
Barbour118911
Butler118642
Randolph105522
Cherokee105124
Hale98131
Fayette94616
Washington93219
Clay92824
Henry8896
Monroe83011
Lowndes80929
Cleburne78814
Macon75522
Crenshaw72230
Bullock70119
Lamar7018
Conecuh70014
Perry6916
Wilcox64818
Sumter58622
Greene43518
Choctaw43114
Coosa3664
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