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: 297321

Reported Deaths: 6805
CountyCasesDeaths
DeSoto19814231
Hinds18949395
Harrison16886282
Rankin12842265
Jackson12750234
Lee9720163
Madison9516204
Jones8035148
Forrest7289138
Lauderdale6872228
Lowndes6061140
Lamar593381
Lafayette5767114
Washington5232130
Bolivar4630124
Oktibbeha443095
Panola433698
Pearl River4212132
Warren4144115
Pontotoc411071
Marshall405995
Monroe3996129
Union397174
Neshoba3848171
Lincoln3624104
Hancock352978
Leflore3400121
Sunflower320986
Tate303974
Pike302697
Scott296171
Alcorn292763
Yazoo292066
Itawamba290675
Coahoma283069
Tippah280065
Copiah279959
Simpson277581
Prentiss271258
Marion258878
Wayne255641
Leake254172
Covington250280
Grenada248878
Adams235778
George232745
Newton232753
Winston222179
Jasper214145
Tishomingo213266
Attala206971
Chickasaw201954
Holmes182870
Clay179452
Stone173429
Tallahatchie171739
Clarke170773
Calhoun158628
Smith153833
Yalobusha145736
Greene128133
Walthall125441
Montgomery123540
Noxubee123431
Perry123235
Lawrence121421
Carroll119425
Amite112435
Webster111132
Jefferson Davis102731
Tunica99824
Claiborne99030
Benton94024
Humphreys93128
Kemper91423
Quitman77514
Franklin76420
Choctaw70117
Jefferson62827
Wilkinson62727
Sharkey49217
Issaquena1676
Unassigned00

Alabama Coronavirus Cases

Cases: 499411

Reported Deaths: 10149
CountyCasesDeaths
Jefferson719951403
Mobile36396741
Madison32674469
Tuscaloosa24391423
Montgomery22789523
Shelby22250219
Baldwin19915289
Lee15070161
Calhoun13961296
Morgan13785255
Etowah13413327
Marshall11458215
Houston10121264
Elmore9509190
Limestone9435139
St. Clair9050228
Cullman8993183
Lauderdale8628214
DeKalb8507175
Talladega7643165
Walker6600260
Jackson6551104
Autauga634492
Blount6252128
Colbert6007121
Coffee5261104
Dale4680107
Russell407534
Franklin400779
Covington3996107
Chilton3911104
Escambia379473
Tallapoosa3637143
Clarke344553
Chambers3432111
Dallas3428142
Pike292973
Marion288796
Lawrence285787
Winston258568
Bibb246058
Marengo244657
Geneva240270
Pickens225757
Barbour213851
Hale212569
Fayette202657
Butler201466
Henry183541
Cherokee178140
Monroe166739
Randolph165141
Washington157036
Macon147845
Crenshaw146755
Clay146254
Cleburne140141
Lamar133933
Lowndes133151
Wilcox123225
Bullock117736
Conecuh107224
Perry106427
Sumter100832
Coosa90324
Greene88732
Choctaw55723
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