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Buffett's big buyback; SoftBank sticks with Saudis; Amazon's offer

1. Trade optimism wanes: Stock markets across Asia fell on Monday, as hopes of a potential ...

Posted: Nov 5, 2018 11:46 AM
Updated: Nov 5, 2018 11:46 AM

1. Trade optimism wanes: Stock markets across Asia fell on Monday, as hopes of a potential ceasefire in the trade war between the United States and China faded.

Hong Kong's Hang Seng index dropped more than 2%, while Japan's Nikkei and China's Shanghai Composite fell around 1.5% and 0.5% respectively. European markets opened mixed, while US futures were edging lower.

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China's President Xi Jinping spoke out against protectionism in a speech in Shanghai on Monday, in what appeared to be a veiled swipe at President Donald Trump. "A global economy is an irreversible trend and won't change because of one person," Xi said.

Trump's economic adviser Larry Kudlow on Friday downplayed the possibility of a trade agreement with China. "There's no massive movement to deal with China," Kudlow told CNBC.

2. Buffett's Berkshire buyback: Berkshire Hathaway (BRKB), the company owned by renowned investor Warren Buffett, has repurchased nearly $1 billion of its own stock after removing limits earlier this year that essentially prevented it from doing so.

Berkshire announced the $928 million stock buyback, its first in nearly six years, over the weekend. The company also said its net income rose from $4.1 billion to $18.5 billion in the past year.

Berkshire shares jumped around 3% in premarket trading Monday. The company's stock is already up more than 4% this year.

3. SoftBank sticks with Saudis: The Japanese tech giant will maintain close financial ties with Saudi Arabia despite the outcry over the killing of Saudi journalist Jamal Khashoggi.

SoftBank (SFTBF) CEO Masayoshi Son expressed "strong regret" over Khashoggi's death during an earnings presentation in Tokyo on Monday, but said the company must "fulfill its responsibility for the future of the Saudi people."

Saudi Arabia provided $45 billion of the $93 billion that SoftBank raised for its Vision Fund, which has made big investments in startups such as WeWork and Slack.

4. Amazon holiday offer: Amazon is giving its customers a bit of festive cheer, announcing that all holiday orders will be eligible for free shipping. The offer will apply to all orders arriving in time for Christmas, the company said, covering hundreds of millions of products.

Meanwhile, Amazon (AMZN) is battling the rumor mill over the location of its second headquarters, known as HQ2. A key executive hit back at a Washington Post report that said the company was close to picking Crystal City, Virginia, as the location.

5. Iran sanctions kick in: The latest US sanctions on Iran took effect Monday, but their impact on global oil markets may not be as severe as expected after a number of countries were granted temporary exemptions.

Eight "jurisdictions" will temporarily be allowed to keep buying Iranian oil, US Secretary of State Mike Pompeo said Friday, without revealing the names of those exempted. Six of those jurisdictions will import Iranian crude oil at greatly reduced levels, while two will completely end their imports, Pompeo added.

The United States and Saudi Arabia have ramped up their oil output in recent months, easing fears of a shortage. Oil prices ticked lower early on Monday.

6. Coming this week:

Monday — Avis Budget Group (CAR), SeaWorld Entertainment (SEAS), Paramount (PGRE), Michael Kors (KORS), and Mylan (MYL) earnings

Tuesday — Eli Lilly and Co. (LLY), 21st Century Fox (FOXA), CVS Health (CVS), Wendy's (WEN), Etsy (ETSY), GoDaddy (GDDY), Zillow Group (ZG), Match Group (MTCH), Overstock (OSTK) earnings; US midterm elections

Wednesday — Monster Beverage (MNST), Sinclair Broadcast Group (SBGI), Hostess Brands (TWNK), Tribune Publishing (TPCO), News Corp. (NWSA), Groupon (GRPN), Humana (HUM), Qualcomm (QCOM), TripAdvisor (TRIP), Roku Inc. (ROKU), IAC (IAC), Wynn Resorts (WYNN) earnings; FOMC meeting

Thursday — AMC Entertainment (AMC), Activision Blizzard (ATVI), Crocs (CROX), Gannett (GCI), Walt Disney (DIS), Party City (PRTY), Discovery (DISCA), Dropbox (DBX), Hertz Global Holdings (HTZ), Yelp (YELP), FOMC meeting

Friday — E.W. Scripps Co. (SSP), McClatchy (MNI) earnings; consumer sentiment

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 154411

Reported Deaths: 3836
CountyCasesDeaths
DeSoto10409104
Hinds10279202
Harrison7313112
Jackson6566128
Rankin5887106
Lee529496
Madison5014107
Forrest389786
Jones369088
Lauderdale3594147
Lafayette338253
Washington3246108
Lamar297850
Oktibbeha252362
Lowndes247064
Bolivar244384
Panola232653
Neshoba2249121
Marshall222851
Leflore208591
Monroe206778
Pontotoc204231
Lincoln197366
Sunflower192655
Warren180258
Tate177751
Union171926
Copiah167940
Pike165359
Yazoo160140
Scott159430
Itawamba157635
Alcorn155628
Pearl River155368
Coahoma152743
Simpson152653
Prentiss151331
Adams144752
Grenada143345
Leake139744
Holmes133461
Covington128639
Tippah128430
George128325
Winston125526
Hancock124341
Wayne121323
Marion119446
Attala119334
Tishomingo112443
Chickasaw109432
Newton108229
Tallahatchie98127
Clay94727
Clarke93653
Jasper85223
Stone80615
Calhoun78713
Walthall77629
Montgomery76926
Carroll74115
Lawrence73814
Smith73216
Yalobusha73128
Noxubee72717
Perry68326
Tunica62619
Greene61522
Jefferson Davis59017
Claiborne58916
Amite56615
Humphreys54719
Benton50018
Quitman5007
Webster46714
Kemper45018
Wilkinson40522
Jefferson37112
Choctaw3617
Franklin3555
Sharkey32417
Issaquena1204
Unassigned00

Alabama Coronavirus Cases

Cases: 252900

Reported Deaths: 3638
CountyCasesDeaths
Jefferson33526501
Mobile20103365
Madison13723151
Tuscaloosa13366154
Montgomery12552236
Shelby1079677
Baldwin9051137
Lee787266
Morgan696451
Calhoun6598121
Etowah656167
Marshall647357
Houston541038
DeKalb498137
Cullman462443
St. Clair441956
Limestone440445
Lauderdale426754
Elmore421164
Walker3735111
Talladega370157
Jackson340423
Colbert332042
Blount306140
Autauga281842
Franklin257434
Coffee250015
Dale239054
Dallas231532
Chilton228939
Russell22663
Covington225034
Escambia202331
Tallapoosa187291
Chambers182750
Pike161514
Clarke161019
Marion144736
Winston137523
Lawrence133436
Pickens126518
Geneva12508
Marengo123424
Bibb120418
Barbour118911
Butler118642
Randolph105522
Cherokee105124
Hale98131
Fayette94616
Washington93219
Clay92824
Henry8896
Monroe83011
Lowndes80929
Cleburne78814
Macon75522
Crenshaw72230
Bullock70119
Lamar7018
Conecuh70014
Perry6916
Wilcox64818
Sumter58622
Greene43518
Choctaw43114
Coosa3664
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