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Retail earnings; Tencent pain; Cisco surge

1. Retail therapy: It's a big day for US retail earnings.Walmart, Dillard's and JCPe...

Posted: Aug 16, 2018 12:10 PM
Updated: Aug 16, 2018 12:10 PM

1. Retail therapy: It's a big day for US retail earnings.

Walmart, Dillard's and JCPenney are set to release earnings before the open. Nordstrom will follow after the close.

Consumer spending accounts for more than two-thirds of the American economy, making these retail reports especially important to assess the country's economic health.

2. Pain in China: Stocks were under pressure in China on Thursday as investors reacted to disappointing earnings from Tencent.

Shares in the Chinese tech giant fell sharply at the open in Hong Kong, before recovering some lost ground to trade down 3%.

Tencent posted a rare earnings miss on Wednesday, a performance it attributed to a lack of sales from popular tactical tournament games and the timing of new game releases.

Hong Kong's Hang Seng fell 0.8% on Thursday, pushing it closer to bear market territory. The Shanghai Composite dropped 0.6%.

3. Trade developments: China announced that new talks with the United States are scheduled to take place amid a trade war between the two economic superpowers.

The Chinese Commerce Ministry said a delegation will travel to the United States later this month for the talks. The visit is at the invitation of the United States, the ministry said in a short statement.

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4. Global market overview: Despite negative sentiment in Asia, US stock futures were higher.

European markets were mostly positive in early trading, with the exception of the Italian FTSE MIB index, which was down by about 2%.

Italian stocks were dragged lower by a 25% drop in shares in Atlantia, the operator of a bridge that collapsed earlier this week in Genoa.

The Turkish lira continued to recover after several weeks of steep losses. The main Turkish stock index is down just 1%.

The Turkish government took steps on Wednesday to discourage short sellers, and announced $15 billion in new investment from Qatar.

5. One to watch -- Cisco: Shares in Cisco Systems are expected to surge at the open by about 6% as investors react positively to its earnings.

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6. Coming this week:

Thursday — JCPenney, Nordstrom, Walmart and Nvidia earnings
Friday — Deere earnings, consumer sentiment

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 144544

Reported Deaths: 3729
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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