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.

Confirmed Cases: 14372

Reported Deaths: 693
CountyConfirmedDeaths
Hinds92024
Lauderdale69957
Madison68721
Scott62310
Neshoba56534
Jones52519
Forrest51137
DeSoto4936
Leake39512
Rankin3736
Holmes37324
Jackson30013
Copiah2854
Attala27715
Monroe25324
Leflore25030
Lincoln25022
Newton2504
Harrison2457
Lamar2275
Yazoo2233
Pearl River20731
Pike20211
Adams19015
Lowndes1828
Noxubee1696
Washington1636
Warren1587
Oktibbeha15010
Bolivar14911
Wayne1480
Jasper1483
Covington1411
Clarke13517
Smith13311
Kemper13110
Chickasaw12812
Lafayette1254
Lee1175
Carroll11410
Coahoma1133
Marion1129
Winston1051
Clay1043
Lawrence991
Simpson930
Hancock8711
Yalobusha855
Wilkinson859
Itawamba857
Grenada823
Montgomery811
Sunflower783
Union785
Marshall763
Jefferson Davis752
Tippah7111
Tate691
Panola643
Claiborne642
Calhoun614
Webster591
Amite561
Humphreys537
Tunica523
Walthall510
Perry492
Prentiss413
Jefferson400
Choctaw352
Stone300
Pontotoc283
Franklin272
Tishomingo260
Quitman250
Tallahatchie251
George201
Benton140
Alcorn141
Greene111
Sharkey70
Unassigned00

Alabama Coronavirus Cases

Confirmed Cases: 16310

Reported Deaths: 590
CountyConfirmedDeaths
Mobile2085112
Jefferson167397
Montgomery144634
Marshall6609
Tuscaloosa63212
Lee52632
Franklin4986
Shelby47019
Tallapoosa41063
Butler39113
Chambers34024
Madison3154
Elmore3007
Baldwin2829
Walker2821
DeKalb2403
Etowah24011
Dallas2323
Coffee2191
Lowndes21610
Morgan2111
Sumter2106
Autauga1923
Houston1854
Bullock1763
Pike1730
Colbert1612
Calhoun1523
Marengo1506
Choctaw1487
Russell1480
Lauderdale1452
Hale1416
Wilcox1327
Barbour1301
Clarke1282
Randolph1247
Marion11711
St. Clair1081
Pickens964
Dale960
Talladega963
Chilton931
Greene914
Cullman880
Limestone860
Winston770
Covington751
Jackson742
Bibb711
Henry702
Macon672
Crenshaw662
Washington656
Blount531
Escambia483
Lawrence460
Geneva400
Perry360
Conecuh351
Coosa341
Monroe342
Cherokee332
Clay272
Lamar210
Cleburne131
Fayette130
Unassigned00
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