1. Retail trouble: Macy's and Nordstrom will report results on Thursday and Wall Street is bracing for more signs of a retail apocalypse. The department stores are likely to paint a gloomy picture about their busiest and most critical time of the year.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -27.00 | | -12.25 | | -4.25 | | -0.11% | | -0.19% | | -0.16% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -45.11 | | +12.33 | | -4.71 | | 22,868.71 | | 3,427.79 | | 7,525.01 | | -0.20% | | +0.36% | | -0.06% | | | |
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| | | Biggest Winners | | Perrigo Company PLC | +14.16% | | | | Albemarle Corp | +1.67% | | | | NetApp Inc | +1.32% | | | | Cabot Oil & Gas Corp | +1.26% | | | Biggest Losers | | CenturyLink Inc | -7.75% | | | | Advanced Micro Devices Inc | -1.79% | | | | International Business Machines Corp | -0.97% | | | | Starbucks Corp | -0.71% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Retail apocalypse; Trump deals in China; AT&T and Time Warner | By Ivana Kottasová
Thursday, November 9th, 4:54am | | | | 1. Retail trouble: Macy's and Nordstrom will report results on Thursday and Wall Street is bracing for more signs of a retail apocalypse. | | | | The department stores are likely to paint a gloomy picture about their busiest and most critical time of the year. | | | | Morgan Stanley recently warned that sales will outright decline during the holiday quarter at both companies. | | | | It's yet another sign that the rise of Amazon and resurgence of Walmart have taken a toll on many traditional retailers. | | | | 2. Trump deals in China: U.S. and Chinese officials are touting more than $250 billion in deals signed during President Trump's visit to China. | | | | The agreements span energy, aviation and technology. However, a number of the deals signed were only framework agreements, meaning the details are still up for negotiations. | | | | Boeing and Qualcomm have both announced deals during the trip. | | | | 3. AT&T and Time Warner: AT&T's acquisition of Time Warner has hit a serious snag. | | | | Negotiations between the companies and the U.S. Department of Justice have turned so contentious that now both sides are arguing publicly over what the dispute is even about. | | | | Both sides agree that there was a pivotal meeting on Monday between AT&T CEO Randall Stephenson and DOJ's antitrust chief Makan Delrahim. | | | | The two men discussed asset sales that might satisfy the government's concerns, but sources offer differing accounts of that conversation. | | | | CNN, which is owned by Time Warner, is one of the assets that has been mentioned in multiple reports. | | | | "Throughout this process, I have never offered to sell CNN and have no intention of doing so," AT&T CEO Randall Stephenson said in a statement on Wednesday. | | | | 4. Burberry falls: Shares in Burberry fell more than 10% in London after the company said it does not expect sales to increase until fiscal 2021. | | | | CEO Marco Gobbetti also said that he wants to shift the fashion brand upmarket — a change analysts say could be costly. | | | | "The transition is bound to be painful," said Luca Solca, head of luxury goods at Exane BNP Paribas. | | | | Burberry announced in late October that long-time creative director Christopher Bailey would be leaving the company. | | | | 5. Global market overview: U.S. stock futures were in negative territory. | | | | European markets were mixed, following a similar session in Asia. | | | | The Dow Jones industrial average closed at a new record high for a fifth day in a row on Wednesday. The S&P 500 and the Nasdaq also hit all-time highs. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 6. Earnings and economics: Disney will release its fourth quarter results after the close. CEO Bob Iger warned in September that earnings could be flat this quarter. | | | | Canada Goose, DISH Network, Kohl's, Norwegian Cruise Line, Office Depot, Party City, Time, and TransCanada will release earnings before the opening bell. | | | | Franklin Covey, Kona Grill, Lions Gate Entertainment, News Corp., Noodles & Co and NVIDIA will follow after the close. | | | | China inflation data came out slightly above expectations on Thursday, with prices rising 1.9% over the previous year in October. | | | | The European Commission will publish its Autumn European Economic Forecast. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Thursday -- Nordstrom, Macy's, Disney and News Corp earnings
Friday -- Consumer confidence survey | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $57.08 | +0.27 / +0.48% | | | Gold | $1,285.40 | +1.70 / +0.13% | | | 10-yr | 2.33% | +0.02 / +0.78% | | | Euro | $1.16 | +0.00 / +0.29% | | | |
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