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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: 263023

Reported Deaths: 5752
CountyCasesDeaths
DeSoto17675191
Hinds16813331
Harrison14224204
Rankin11167219
Jackson10839190
Lee9050144
Madison8568168
Jones6668114
Forrest6177124
Lauderdale6097192
Lowndes5518120
Lafayette516298
Lamar503965
Washington4923125
Bolivar4104109
Oktibbeha405982
Panola384881
Pontotoc376258
Warren3674103
Monroe3671108
Union355663
Marshall355270
Neshoba3485154
Pearl River3468105
Leflore3111109
Lincoln305688
Hancock291862
Sunflower291475
Tate279662
Alcorn272354
Pike268981
Itawamba268063
Scott259648
Yazoo255256
Prentiss252553
Tippah249250
Copiah249049
Coahoma248054
Simpson242171
Leake237367
Grenada223272
Marion222073
Covington219973
Adams213671
Wayne212634
Winston207371
George204339
Newton199046
Attala196963
Tishomingo194161
Chickasaw189044
Jasper179538
Holmes171768
Clay165837
Tallahatchie156235
Stone151425
Clarke147262
Calhoun140822
Smith129226
Yalobusha122034
Walthall114337
Greene113529
Noxubee112926
Montgomery111636
Carroll106622
Lawrence106517
Perry104531
Amite101426
Webster96124
Tunica88821
Claiborne88325
Jefferson Davis88329
Benton85623
Humphreys84624
Kemper80520
Quitman7089
Franklin69917
Choctaw63213
Wilkinson59825
Jefferson56821
Sharkey45117
Issaquena1606
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Alabama Coronavirus Cases

Cases: 439442

Reported Deaths: 6657
CountyCasesDeaths
Jefferson644371007
Mobile31435569
Madison28158217
Tuscaloosa21492275
Montgomery19873332
Shelby19248132
Baldwin17128189
Lee13137107
Morgan12594142
Etowah12070181
Calhoun11496206
Marshall10420123
Houston8988164
Limestone832081
Cullman8257124
Elmore8183110
DeKalb7871107
Lauderdale7847107
St. Clair7808130
Talladega6445112
Walker6028183
Jackson599145
Colbert548694
Blount546286
Autauga535862
Coffee460764
Dale409685
Franklin374150
Russell354215
Chilton344373
Covington338580
Escambia334544
Tallapoosa3143109
Dallas312996
Chambers303470
Clarke298036
Pike262431
Lawrence253355
Marion253161
Winston233342
Bibb222348
Geneva210247
Marengo208231
Pickens199531
Hale184944
Barbour180538
Fayette177829
Butler173160
Cherokee165131
Henry159525
Monroe152021
Randolph145536
Washington141727
Clay129746
Crenshaw123745
Macon121937
Cleburne121525
Lamar119922
Lowndes114836
Wilcox107922
Bullock103328
Perry99918
Conecuh97822
Sumter90527
Greene77923
Coosa63418
Choctaw51924
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