1. Retail therapy: It's a big day for US retail earnings. Walmart, Dillard's and JCPenney are set to release earnings before the open. Nordstrom will follow after the close.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +146.00 | | +49.25 | | +12.75 | | +0.58% | | +0.67% | | +0.45% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -12.18 | | -18.07 | | +47.92 | | 22,192.04 | | 2,705.19 | | 7,545.79 | | -0.05% | | -0.66% | | +0.64% | | | |
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| | | Biggest Winners | | Cisco Systems Inc | +6.95% | | | | Symantec Corp | +4.58% | | | | TechnipFMC PLC | +2.10% | | | | Macy's Inc | +1.56% | | | Biggest Losers | | Kraft Heinz Co | -0.32% | | | | Chevron Corp | -0.10% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Retail earnings; Tencent pain; Cisco surge | | By Alanna Petroff | | | | 1. Retail therapy: It's a big day for US retail earnings. | | | | Walmart, Dillard's and JCPenney are set to release earnings before the open. Nordstrom will follow after the close. | | | | Consumer spending accounts for more than two-thirds of the American economy, making these retail reports especially important to assess the country's economic health. | | | | 2. Pain in China: Stocks were under pressure in China on Thursday as investors reacted to disappointing earnings from Tencent. | | | | Shares in the Chinese tech giant fell sharply at the open in Hong Kong, before recovering some lost ground to trade down 3%. | | | | Tencent posted a rare earnings miss on Wednesday, a performance it attributed to a lack of sales from popular tactical tournament games and the timing of new game releases. | | | | Hong Kong's Hang Seng fell 0.8% on Thursday, pushing it closer to bear market territory. The Shanghai Composite dropped 0.6%. | | | | 3. Trade developments: China announced that new talks with the United States are scheduled to take place amid a trade war between the two economic superpowers. | | | | The Chinese Commerce Ministry said a delegation will travel to the United States later this month for the talks. The visit is at the invitation of the United States, the ministry said in a short statement. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 3. Global market overview: Despite negative sentiment in Asia, US stock futures were higher. | | | | European markets were mostly positive in early trading, with the exception of the Italian FTSE MIB index, which was down by about 2%. | | | | Italian stocks were dragged lower by a 25% drop in shares in Atlantia, the operator of a bridge that collapsed earlier this week in Genoa. | | | | The Turkish lira continued to recover after several weeks of steep losses. The main Turkish stock index is down just 1%. | | | | The Turkish government took steps on Wednesday to discourage short sellers, and announced $15 billion in new investment from Qatar. | | | | 4. One to watch -- Cisco: Shares in Cisco Systems are expected to surge at the open by about 6% as investors react positively to its earnings. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| | | | | | Thursday — JCPenney, Nordstrom, Walmart and Nvidia earnings
Friday — Deere earnings, consumer sentiment | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $65.01 | 0.00 / 0.00% | | | Gold | $1,186.90 | +1.90 / +0.16% | | | 10-yr | 2.85% | -0.04 / -1.49% | | | Euro | $1.14 | +0.00 / +0.25% | | | |
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