1. Harvey energy havoc: Harvey has knocked more Gulf Coast refineries offline, sending gasoline futures to around $2 a gallon. Thirteen oil refineries have been shut down or are in the process of closing, while several others are operating at reduced rates. Altogether, the storm has knocked out about a fifth of America's refining capacity, according to S&P Global Platts.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +56.00 | | +12.75 | | +5.95 | | +0.26% | | +0.21% | | +0.24% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +139.70 | | -2.82 | | +44.51 | | 19,646.24 | | 3,360.81 | | 7,409.77 | | +0.72% | | -0.08% | | +0.60% | | | |
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| Key Stats | Latest | Today's Change | | | Oil | $46.09 | +0.13 / +0.28% | | | Gold | $1,311.00 | -3.10 / -0.24% | | | 10-yr | 2.14% | +0.01 / +0.33% | | | Euro | $1.18 | -0.00 / -0.35% | | | |
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| News: What you need to know about the markets | | | | | | | Harvey energy squeeze; Brexit talks; Uber's fresh start? | By Ivana Kottasová
Thursday, August 31st, 4:55am | | | | 1. Harvey energy havoc: Harvey has knocked more Gulf Coast refineries offline, sending gasoline futures to around $2 a gallon. | | | | Thirteen oil refineries have been shut down or are in the process of closing, while several others are operating at reduced rates. Altogether, the storm has knocked out about a fifth of America's refining capacity, according to S&P Global Platts. | | | | The Colonial Pipeline, which carries huge amounts of gasoline and other fuel between Houston and the East Coast, is also shutting down after Harvey, which is now considered a tropical depression, forced the closure of refineries and some of the pipeline's own facilities. | | | | 2. Brexit talks round three: The third round of divorce talks between the U.K. and the EU is set to conclude on Thursday. | | | | Negotiators are expected to give an update on the status of discussions. | | | | Recent comments from EU officials suggest that little progress has been made because of disagreements over a financial settlement. | | | | 3. Uber's new start: Incoming Uber CEO Dara Khosrowshahi met with the embattled startup's employees for the first time on Wednesday. | | | | "This company has to change," Khosrowshahi told employees, according to the company. "What got us here is not what's going to get us to the next level." | | | | The Expedia CEO said he will start at Uber on Tuesday. | | | | 4. Global market overview: U.S. stock futures were pointing higher on Thursday. | | | | Major European markets gained in early trade, while Asian markets ended the session mixed. | | | | The Dow Jones industrial average closed 0.1% higher on Wednesday, while the S&P 500 added 0.5% and the Nasdaq gained 1.2%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Earnings and economics: Lands' End and Dollar General are set to release earnings before the open. | | | | Campbell Soup will also report before the bell. CEO Denise Morrison recently criticized President Trump's response to the violence in Charlottesville, Virginia, and quit his business council. | | | | Sports clothing retailer lululemon athletica will publish results after the closing bell. | | | | Shares in French supermarket chain Carrefour dropped 14% in Paris after it reported disappointing results. | | | | The U.S. Bureau of Economic Analysis will release its personal income and spending report for July at 8:30 a.m. ET. | | | | Government data showed Chinese manufacturing unexpectedly strengthened in August. However, the construction and service sectors appear to be losing momentum. | | | | Eurozone inflation and unemployment data will be published at 5:00 a.m. | | | | India's latest GDP data will be published at 7:30 a.m. Canada will follow with its own GDP report at 8:30 a.m. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Thursday -- Campbell Soup, lululemon athletica earnings; Personal income & spending report; Chinese manufacturing PMI; Eurozone unemployment and inflation reports; Canada GDP data; BRICS summit in China begins; India GDP; IFA electronics show
Friday -- Jobs report; NAFTA talks; The University of Michigan sentiment report | | | | | | | |
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