US stocks weaken; Walmart earnings; HSBC stumbles

1. More volatility?: US stock futures are pointin...

Posted: Feb 20, 2018 4:06 PM
Updated: Feb 20, 2018 4:06 PM

1. More volatility?: US stock futures are pointing down on Tuesday after investors had a long weekend to consider their next moves.

The Dow Jones industrial average and S&P 500 are set to start trading on the back foot following a six-day winning streak.

Global stock markets dropped sharply earlier this month, with many falling by about 10%. They've been in recovery mode since then.

European markets are mostly rising in early trading, though the gains are modest.

Most Asian markets ended the day with losses. The Nikkei in Tokyo dropped 1%.

2. Takeover time: Shares in Rite Aid are surging on Tuesday after Albertsons agreed to buy the drug store company and its thousands of stores.

Rite Aid recently struck a deal with Walgreens Boots Alliance worth $4.4 billion to hand over nearly 2,000 of its stores. Albertsons is now buying the rest.

The deal has been designed in such a way that, once completed, the privately held Albertsons will become a publicly traded company on the New York Stock Exchange.

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

3. Earnings: Walmart and Home Depot are two of the bigger names reporting earnings ahead of the opening bell.

Walmart, the nation's largest private-sector employer, beat Wall Street forecasts last quarter and posted impressive online growth. Since then, Walmart has announced that it is both raising pay and shutting 63 Sam's Clubs locations, so executives will have a lot to talk about.

Home Depot has also been in the headlines, announcing plans last week to add 80,000 seasonal or permanent part-time workers, the same number it hired last year. To make it easier to fill the jobs it is allowing applicants to schedule interviews online for the first time.

Additionally, Cracker Barrel, Domino's Pizza, Gannett, MGM Resorts and Six Flags are releasing earnings before the open. Transocean and La-Z-Boy plan to release earnings after the close.

4. Market movers -- HSBC, InterContinental Hotels: Shares in HSBC are dropping by about 4.5% in London as investors reacted to the global bank's latest annual results and news that it plans to raise up to $7 billion in new capital in the first half of this year.

Fiona Cincotta, a senior market analyst at City Index, said the earnings showed "a disappointing loss of momentum," rising exposure to bad debts and profit margins that were under pressure.

Investors were also left disappointed that the company didn't announce a new plan for share buybacks.

"Overall, though, the bank is in far greener pastures than it was a few years ago," Cincotta said.

Shares in InterContinental Hotels Group are also dropping by about 5% in London after the hotel chain reported its latest annual results.

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

5. Coming this week:

Tuesday - Home Depot and Walmart earnings
Wednesday - FOMC minutes released
Thursday - Hewlett-Packard Enterprise and Chesapeake Energy earnings
Friday - Potbelly earnings

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 34574

Reported Deaths: 2134
CountyConfirmedDeaths
Marion9853578
Lake3616190
Allen161869
Cass15877
Elkhart132228
St. Joseph127434
Hendricks116971
Hamilton115993
Johnson1105108
Madison58659
Porter53928
Bartholomew51135
Clark50441
LaPorte43323
Howard40828
Tippecanoe4023
Jackson3891
Delaware38537
Shelby37322
Hancock33827
Floyd31839
Boone31535
Morgan27724
Vanderburgh2742
Montgomery24117
White2358
Noble23221
Clinton2321
Decatur22431
Grant21122
Dubois1993
Harrison19422
Henry18211
Greene16924
Vigo1698
Dearborn16821
Monroe16612
Warrick16628
Lawrence16324
Miami1401
Putnam1377
Kosciusko1351
Jennings1304
Orange12822
Scott1203
Franklin1108
Ripley1096
Marshall1082
Carroll932
Daviess8816
Steuben832
Wayne825
LaGrange812
Wabash782
Newton7810
Fayette777
Jasper671
Washington521
Jay520
Clay511
Fulton491
Rush472
Randolph473
Pulaski460
Jefferson451
Whitley423
Starke393
DeKalb371
Sullivan361
Owen351
Brown331
Perry330
Wells320
Benton300
Huntington282
Knox280
Tipton251
Blackford252
Crawford240
Fountain212
Switzerland200
Spencer201
Parke180
Gibson172
Posey160
Adams151
Ohio130
Warren121
Martin110
Vermillion100
Union90
Pike60
Unassigned0167
West Lafayette
Overcast
71° wxIcon
Hi: 76° Lo: 64°
Feels Like: 71°
Kokomo
Clear
70° wxIcon
Hi: 73° Lo: 62°
Feels Like: 70°
Rensselaer
Overcast
70° wxIcon
Hi: 73° Lo: 63°
Feels Like: 70°
Fowler
Overcast
70° wxIcon
Hi: 74° Lo: 63°
Feels Like: 70°
Williamsport
Overcast
70° wxIcon
Hi: 76° Lo: 63°
Feels Like: 70°
Crawfordsville
Scattered Clouds
68° wxIcon
Hi: 74° Lo: 63°
Feels Like: 68°
Frankfort
Overcast
73° wxIcon
Hi: 74° Lo: 63°
Feels Like: 73°
Delphi
Broken Clouds
71° wxIcon
Hi: 74° Lo: 63°
Feels Like: 71°
Monticello
Broken Clouds
71° wxIcon
Hi: 73° Lo: 62°
Feels Like: 71°
Logansport
Overcast
70° wxIcon
Hi: 74° Lo: 61°
Feels Like: 70°
Mild Today, Much Warmer Weather Tomorrow.
WLFI Radar
WLFI Temps
WLFI Planner

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events