Tencent earnings; Global slowdown; Oil stabilizes

1. Tencent earnings: WeChat owner Tencent (...

Posted: Nov 14, 2018 11:39 AM
Updated: Nov 14, 2018 11:39 AM

1. Tencent earnings: WeChat owner Tencent (TCEHY) reported an increase in sales on Wednesday despite regulatory headaches in China.

The company said revenue jumped 24% in the third quarter compared to the same period last year. Tencent attributed the growth to payment-related services, online advertising, digital content sales and its cloud service.

Banking, finance and investments

Business, economy and trade

Cisco Systems Inc

Companies

Company activities and management

Company earnings

Economic indicators

Economy and economic indicators

Financial markets and investing

Financial performance and reports

Financial results

Government and public administration

Government organizations - US

Nordstrom Incorporated

Politics

Securities trading

Stock indexes

Stock markets

US Congress

Wall Street

Exports and imports

International trade

Trade and development

Economic conditions

Economic decline

Globalization

Tencent Holdings Limited

The technology and entertainment conglomerate has had a tough year. Its stock is down about 30% so far in 2018.

The company was hit hard by a Chinese government crackdown on gaming. China is the world's biggest gaming market, and Tencent is the world's biggest gaming company.

Tencent released 10 new smartphone games this year and said Wednesday it has 15 more ready to go, pending regulatory approval. Smartphone games sales increased 7% over the previous year, while PC gaming revenue declined 15%.

2. Global slowdown: Worries about a global slowdown have increased after Japan and Germany said their economies contracted in the third quarter.

The problems plaguing the economies are different, but their size means the pain cannot be ignored: Japan boasts the world's third largest economy, while Germany is ranked fourth.

The German economy contracted 0.2% in the third quarter compared to the previous three months, its first decline in more than three years. Data showed the slowdown was mainly due to weak exports and a fall in consumer spending.

Global trade tensions and new vehicle emissions tests have also hit the country's massive car industry.

Japan said its GDP shrunk 0.3% in the third quarter. The country recently enjoyed its longest streak of economic growth in decades, but momentum has stalled this year.

Inflation remains below the central bank's target of 2% despite a massive stimulus program and unusual policies like negative interest rates.

There were other reasons to worry about Europe: New data showed the eurozone economy grew 0.2% in the third quarter, just half the rate reported for the previous three months. Growth in the wider European Union also slowed.

Watch CNNMoney's 'Markets Now' today at 12:45 p.m. ET

3. Global market overview: US stock futures were pointing lower.

European markets opened lower, following a negative session in Asia.

Italian banks were under pressure after the country's government refused to cave to pressure from the European Commission to slash its planned budget deficit.

The Dow closed 0.4% lower on Tuesday. The S&P 500 dipped 0.2% and the Nasdaq was flat.

US crude futures have stabilized after dropping 7% on Tuesday. It was crude's worst day since September 2015 and a record 12th consecutive decline. Oil was trading up 0.8% on Wednesday at $56.00 per barrel.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

4. Earnings and economics: Macy's (M) is set to report results before the opening bell. The retailer's stock is up more than 40%, but investors are worried the momentum is slowing.

Blue Apron (APRN) said Tuesday it will cut 4% of its workforce in order to become more profitable. The company is shedding customers and reported a $34 million loss in the third quarter.

US inflation data for October will be released at 8:30 a.m. ET.

The pound was jittery ahead of a crucial meeting of Prime Minister Theresa May's cabinet.

The European Union and the United Kingdom have agreed a draft Brexit divorce, but a key test comes later on Wednesday when May will seek her divided cabinet's backing.

Markets Now newsletter: Get a global markets snapshot every afternoon. Sign up now!

5. Coming this week:

Wednesday — Progressive (PGR), Cisco Systems (CSCO) and Macy's (M) earnings; Inflation numbers for October
Thursday — Nvidia (NVDA), Nordstrom (JWN), Walmart (WMT), and Manchester United (MANU) earnings; October retail sales
Friday — Williams-Sonoma (WSM) earnings

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 307332

Reported Deaths: 7095
CountyCasesDeaths
DeSoto20757248
Hinds19869408
Harrison17475302
Rankin13307275
Jackson13095243
Madison9886210
Lee9854169
Jones8289160
Forrest7522146
Lauderdale7185237
Lowndes6261144
Lamar610284
Lafayette6026117
Washington5279132
Bolivar4769129
Oktibbeha455297
Panola4440103
Pearl River4418139
Warren4277118
Marshall4267100
Pontotoc416472
Monroe4056132
Union403575
Neshoba3984176
Lincoln3869107
Hancock371985
Leflore3468124
Sunflower329389
Tate322681
Pike3177104
Scott310472
Yazoo304268
Alcorn297664
Itawamba296776
Copiah292965
Coahoma289677
Simpson287484
Tippah284668
Prentiss275659
Marion265679
Wayne261341
Leake260973
Grenada254882
Covington254380
Adams245882
Newton244859
George237647
Winston225981
Tishomingo222067
Jasper219748
Attala213273
Chickasaw204857
Holmes186471
Clay182354
Stone179131
Clarke176676
Tallahatchie175240
Calhoun163130
Yalobusha158636
Smith158534
Walthall130543
Greene129433
Lawrence126223
Noxubee125833
Montgomery125542
Perry125138
Carroll120826
Amite119941
Webster113432
Jefferson Davis105332
Tunica102525
Claiborne101330
Benton97225
Kemper95126
Humphreys94332
Franklin81723
Quitman78916
Choctaw72817
Jefferson64828
Wilkinson64727
Sharkey49617
Issaquena1686
Unassigned00

Alabama Coronavirus Cases

Cases: 518588

Reported Deaths: 10712
CountyCasesDeaths
Jefferson753351487
Mobile37698798
Madison33829494
Tuscaloosa25245443
Montgomery23942565
Shelby23094238
Baldwin20617300
Lee15510165
Calhoun14277311
Morgan14137268
Etowah13660345
Marshall11952219
Houston10379278
Elmore9988200
Limestone9806147
Cullman9467188
St. Clair9422234
Lauderdale9208227
DeKalb8745181
Talladega8042171
Walker7087275
Jackson6753110
Autauga6715103
Blount6480135
Colbert6200130
Coffee5397112
Dale4766110
Russell428238
Franklin419882
Chilton4080109
Covington4053114
Tallapoosa3892146
Escambia387574
Dallas3526149
Chambers3499122
Clarke346360
Marion3065100
Pike305475
Lawrence295295
Winston272272
Bibb256258
Marengo248561
Geneva245875
Pickens232959
Barbour224755
Hale218675
Butler212266
Fayette208960
Henry187844
Cherokee182044
Randolph176741
Monroe171240
Washington163838
Macon154348
Clay149354
Crenshaw149257
Cleburne146041
Lamar139234
Lowndes136453
Wilcox124327
Bullock121340
Conecuh109028
Perry107926
Sumter102932
Coosa99228
Greene90734
Choctaw58624
Out of AL00
Unassigned00
Tupelo
Clear
67° wxIcon
Hi: 76° Lo: 48°
Feels Like: 67°
Columbus
Clear
67° wxIcon
Hi: 76° Lo: 49°
Feels Like: 67°
Oxford
Clear
61° wxIcon
Hi: 74° Lo: 45°
Feels Like: 61°
Starkville
Clear
61° wxIcon
Hi: 75° Lo: 47°
Feels Like: 61°
High pressure brings sunny skies and dry conditions for Sunday with highs in the mid 70s. Rain chances build in during the week.
WTVA Radar
WTVA Temperatures
WTVA Severe Weather