Google gadgets; Microsoft bets on Grab; IMF downgrades

1. Google's big event: Google is holding its gadget event on Tuesday.Hardware is a s...

Posted: Oct 9, 2018 11:52 AM
Updated: Oct 9, 2018 11:52 AM

1. Google's big event: Google is holding its gadget event on Tuesday.

Hardware is a small part of Google's business, but Android and Google Assistant are crucial to the future of Alphabet, Google's parent company.

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Google (GOOGL) is expected to debut a new Pixel 3 and Pixel 3 XL phone, more Google Home devices (perhaps a speaker with a screen) and showcase its plans for mobile and voice software.

The event threatens to be overshadowed by other Google news. On Monday, the company shuttered its long ailing social network Google+ for consumer use after it reportedly failed to disclose a security bug.

2. Microsoft bets on Grab: Microsoft is teaming up with the ride hailing and payment startup Grab.

As part of the deal, Grab will adopt Microsoft Azure as its preferred cloud platform. In exchange, Microsoft (MSFT) will make a strategic investment in Grab. The two companies did not reveal the size of the investment.

Grab is a key player in southeast Asia, where it recently bought out Uber's regional business. Grab was valued at around $11 billion in August, according to a source with knowledge of the matter.

3. Trade war downgrade: The International Monetary Fund has cut its economic growth forecasts for the United States and China as the countries clash over trade.

Despite healthy momentum in the United States, IMF economists now expect growth there to slow to 2.5% next year from 2.9% this year. They cut the 2019 forecast by 0.2 percentage points because trade conflicts.

China's growth is now expected to drop to 6.2%, from 6.6% this year. The new 2019 forecast is 0.2 percentage points lower than the fund's previous forecast, reflecting the waves of new tariffs that have taken effect since then.

The more pessimistic forecast comes as the clash between Washington and Beijing threatens to keep escalating and cause damage in other countries.

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

European markets opened higher following a mixed trading session in Asia.

The Dow Jones industrial average closed 0.2% higher on Monday. The S&P 500 was flat, and the Nasdaq shed 0.7% as tech stocks continued to struggle.

5. Companies and economics: AZZ (AZZ) and Helen of Troy (HELE) will release earnings before the open.

Aviva (AVVIY) announced that Mark Wilson is stepping down as CEO. Wilson led the UK insurance company through a transformation that included the £5.6 billion ($7.3 billion) purchase of rival Friends Life.

Mexico's inflation report will be released at 9 a.m. ET.

UK retail sales growth has slumped to the lowest in five months, according to the British Retail Consortium.

6. Coming this week:
Tuesday — Google hardware event
Thursday — Delta (DAL) earnings; Walgreens Boots Alliance (WBA); Deadline for Sky shareholders to accept Comcast offer; Monthly OPEC report
Friday — Citigroup (C), JPMorgan Chase (JPM), Wells Fargo earnings (WFC); US consumer sentiment for October

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 501652

Reported Deaths: 10024
CountyCasesDeaths
Harrison34353540
DeSoto32162408
Hinds31977631
Jackson24508383
Rankin22015390
Lee15596235
Madison14597280
Jones13867243
Forrest13461252
Lauderdale11998317
Lowndes11065188
Lamar10522136
Pearl River9547237
Lafayette8557140
Hancock7740127
Washington7443160
Oktibbeha7147133
Monroe6787178
Warren6706176
Pontotoc6677104
Neshoba6642206
Panola6542131
Marshall6476135
Bolivar6323150
Union605794
Pike5824152
Alcorn5676102
Lincoln5439135
George497479
Scott473098
Tippah470381
Prentiss469182
Leflore4663144
Itawamba4640105
Adams4592119
Tate4592111
Copiah448792
Simpson4448116
Yazoo444887
Wayne440072
Covington429094
Sunflower4240105
Marion4232108
Coahoma4168107
Leake408688
Newton381779
Grenada3711108
Stone360664
Tishomingo360092
Attala331789
Jasper330165
Winston314691
Clay308977
Chickasaw301067
Clarke292594
Calhoun279447
Holmes267987
Smith264150
Yalobusha234547
Tallahatchie228251
Greene219449
Walthall218764
Lawrence213140
Perry205956
Amite205256
Webster203046
Noxubee186840
Montgomery179657
Jefferson Davis172243
Carroll169338
Tunica160039
Benton149239
Kemper141941
Choctaw133326
Claiborne132837
Humphreys129638
Franklin120328
Quitman106528
Wilkinson105139
Jefferson94734
Sharkey64220
Issaquena1937
Unassigned00

Alabama Coronavirus Cases

Cases: 820312

Reported Deaths: 15407
CountyCasesDeaths
Jefferson1148731924
Mobile726221339
Madison52362697
Shelby37640350
Baldwin37266552
Tuscaloosa35120612
Montgomery34123740
Lee23540246
Calhoun22236488
Morgan20958378
Etowah19838500
Marshall18381304
Houston17394412
St. Clair16078339
Cullman15468293
Limestone15354199
Elmore15271286
Lauderdale14323295
Talladega13851283
DeKalb12664261
Walker11221370
Blount10207176
Autauga10048148
Jackson9877184
Coffee9211191
Dale8904185
Colbert8877201
Tallapoosa7093198
Escambia6778134
Covington6715183
Chilton6648162
Russell637559
Franklin5969105
Chambers5612142
Marion5010127
Dallas4979200
Pike4796106
Clarke475884
Geneva4575127
Winston4522103
Lawrence4327117
Bibb425386
Barbour357876
Marengo338390
Monroe331664
Randolph329864
Butler326796
Pickens316584
Henry312866
Hale311688
Cherokee302960
Fayette294180
Washington251651
Cleburne247760
Crenshaw245375
Clay243368
Macon234863
Lamar224847
Conecuh186353
Coosa180340
Lowndes175464
Wilcox168939
Bullock151744
Perry138940
Sumter133238
Greene126744
Choctaw88527
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