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The face of Nike; Argentina meets the IMF; JD.com fallout

1. The face of Nike: Nike is throwing its weight behind one of the most polarizing figures ...

Posted: Sep 4, 2018 12:48 PM
Updated: Sep 4, 2018 12:48 PM

1. The face of Nike: Nike is throwing its weight behind one of the most polarizing figures in America: former San Francisco 49ers quarterback Colin Kaepernick.

Kaepernick will be one of the faces of Nike's 30th anniversary commemoration of its iconic "Just Do It" slogan.

The quarterback has not played in the NFL since the 2016 season, when he began kneeling during the national anthem to protest police brutality against African-Americans and other racial injustices.

Nike is gambling that its customers support his protest, or at least that enough of them do. The company is also betting its brand can withstand criticism from conservative corners, including the White House.

2. Argentina meets the IMF: Argentina is getting rid of half of its government ministries and hiking taxes on exports as it grapples with the collapse of its currency.

President Mauricio Macri announced a series of austerity measures on Monday, the day before his government is due to meet officials from the International Monetary Fund.

Argentina is trying to speed up the release of cash from a $50 billion bailout plan.

The Argentine peso has cratered this year with investors worried about the government's ability to pay its debts. It has lost more than 50% of its value against the US dollar.

Last week, the central bank increased interest rates to 60% in an attempt to stabilize the peso.

3. JD.com fallout: Investors will have their first chance Tuesday to react to the arrest of JD.com CEO Richard Liu.

Liu, the billionaire founder of one of China's largest e-commerce sites, has returned to China after being arrested in Minneapolis late Friday on suspicion of sexual misconduct.

JD.com has said Liu was falsely accused while on a business trip.

JD.com is China's second-largest online shopping site after Alibaba. It's listed on the Nasdaq.

4. Global market overview: US stock futures were higher.

European markets were little changed in early trading. Asian markets ended mixed, with indexes in Shanghai and Hong Kong adding roughly 1%.

The Dow Jones industrial average dropped 0.1% on Friday, while the S&P 500 was flat and the Nasdaq gained 0.3%.

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5. Earnings and economics: Restoration Hardware will release earnings after the close.

Amazon closed at $2,012.71 per share on Friday for a market cap of $981.7 billion. It could become the second American company to cross $1 trillion in value after Apple crossed the threshold on August 2.

Bank of England Governor Mark Carney will face questions from UK lawmakers on Tuesday. The big question is whether Carney will remain in his post longer than expected and lead the central bank through Brexit.

Shares in WPP dropped sharply in London after the advertising conglomerate reported a sales decline in North America. Mark Read, who was named Monday as the replacement for former CEO Martin Sorrell, said a review of the firm's structure and strategy was underway.

The Institute for Supply Management will release its US ISM Index for August at 10 a.m. ET.

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6. Coming this week:
Tuesday — Restoration Hardware earnings
Wednesday — DocuSign and Vera Bradley earnings; Twitter and Facebook executives testify before the Senate Intelligence Committee
Thursday — Barnes & Noble, Broadcom and GameStop earnings; NFL regular season begins
Friday — Jobs report

Mississippi Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 30900

Reported Deaths: 1111
CountyConfirmedDeaths
Hinds249840
DeSoto159416
Madison130034
Jones112449
Neshoba98871
Rankin93412
Harrison91211
Lauderdale90979
Forrest86942
Scott77115
Jackson62216
Copiah60215
Washington5849
Leake57819
Holmes55341
Lee54718
Wayne54513
Oktibbeha54126
Warren51518
Yazoo5096
Leflore48751
Grenada4835
Lowndes48313
Lincoln46034
Lamar4587
Pike43112
Monroe40130
Lafayette3914
Sunflower3727
Attala36023
Covington3565
Panola3506
Newton3399
Bolivar33414
Simpson3173
Adams31118
Pontotoc2866
Tate28310
Marion28111
Chickasaw27718
Claiborne27410
Noxubee2638
Jasper2626
Winston2616
Pearl River25432
Clay25010
Marshall2323
Smith21811
Clarke20724
Union2079
Coahoma2016
Walthall1995
Kemper17914
Lawrence1772
Yalobusha1707
Carroll16511
Humphreys1479
Tallahatchie1364
Itawamba1358
Montgomery1322
Calhoun1304
Tippah13011
Hancock12813
Webster12710
Jefferson Davis1114
Prentiss1083
Jefferson1073
Greene1058
Tunica1003
Wilkinson949
Amite912
George883
Tishomingo801
Quitman760
Choctaw744
Alcorn692
Perry664
Stone651
Franklin452
Sharkey370
Benton360
Issaquena91
Unassigned00

Alabama Coronavirus Cases

Confirmed Cases: 44375

Reported Deaths: 984
CountyConfirmedDeaths
Jefferson5221152
Montgomery4127103
Mobile4080134
Tuscaloosa228842
Marshall171110
Madison14307
Lee138437
Shelby128423
Morgan11025
Walker93924
Elmore92514
Franklin89514
Dallas8809
Baldwin8649
Etowah73913
DeKalb7195
Butler63328
Chambers62927
Autauga60712
Tallapoosa59169
Russell5520
Unassigned50323
Houston4964
Limestone4950
Lauderdale4906
Lowndes47221
Cullman4524
Pike4295
Colbert3956
St. Clair3822
Coffee3772
Bullock36910
Covington3587
Calhoun3545
Escambia3506
Barbour3492
Hale31121
Talladega3097
Marengo30211
Wilcox2918
Dale2880
Sumter28512
Clarke2746
Jackson2732
Winston2583
Chilton2462
Blount2351
Monroe2352
Pickens2356
Marion22413
Conecuh2097
Randolph2069
Choctaw19512
Macon1949
Bibb1901
Greene1868
Perry1771
Henry1343
Crenshaw1253
Washington1097
Lawrence1080
Cherokee977
Geneva800
Lamar771
Fayette701
Clay652
Coosa581
Cleburne361
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