Retailers report; GDP updates; Stocks muddle along

1. Retail review: Several retailers are reporting earnings this week after Macy's kicked things off ...

Posted: Feb 28, 2018 12:23 PM
Updated: Feb 28, 2018 12:23 PM

1. Retail review: Several retailers are reporting earnings this week after Macy's kicked things off on Tuesday with better-than-expected results.

Macy's offered a healthy outlook for this year, suggesting there is still room in the market for traditional stores even though online companies like Amazon are encroaching on their territory.

L Brands, Crocs and TJX are set to publish their results on Wednesday, alongside Lowe's, which has mostly avoided the troubles plaguing the rest of the industry.

Kohl's, Nordstrom, Best Buy and Gap are set to report Thursday. And Foot Locker and JCPenney report Friday.

2. Economic update: The US Bureau of Economic Analysis is releasing its updated report on fourth quarter GDP at 8:30 a.m. ET. The original GDP estimate showed the economy grew at an annual rate of 2.6% in the fourth quarter.

Paul Donovan, global chief economist at UBS Wealth Management, said investors shouldn't get too "worked up" over any potential revisions.

"The broad picture is of a US economy performing at or above trend," he said.

India is also due to publish its GDP figures at 7 a.m. ET. A Reuters poll estimates the economy grew by 6.9% in the October-December quarter.

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

3. Global market overview: There's a fair bit of negativity in global stock markets right now.

US stock futures are indicating Wall Street could inch higher at the open, but most key markets are sinking in Europe and Asia.

A worse-than-expected Chinese manufacturing report for February is blamed for hitting market sentiment in Asia.

This comes after the Dow Jones industrial average, S&P 500 and Nasdaq all dropped by more than 1% on Tuesday. The selling was blamed on concerns about more interest rate hikes after Federal Reserve chair Jerome Powell publicly expressed confidence about growth prospects for the American economy.

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

4. Coming this week:

Wednesday - Second estimate of US Q4 GDP; Earnings from Lowe's, TJX, Salesforce, L Brands, Monster Beverage and Mylan
Thursday -
Earnings from Best Buy, Kohl's, Nordstrom, Gap and Barnes & Noble; Federal Reserve chairman Jerome Powell testifies before the Senate Banking Committee
Friday - Foot Locker and JCPenney earnings

Huntsville
Few Clouds
70° wxIcon
Hi: 87° Lo: 68°
Feels Like: 70°
Florence
Clear
72° wxIcon
Hi: 90° Lo: 69°
Feels Like: 72°
Fayetteville
Clear
72° wxIcon
Hi: 86° Lo: 68°
Feels Like: 72°
Decatur
Clear
69° wxIcon
Hi: 88° Lo: 68°
Feels Like: 69°
Scottsboro
Clear
68° wxIcon
Hi: 86° Lo: 67°
Feels Like: 68°
WAAY Radar
WAAY WAAY-TV Cam
WAAY Temperatures

Alabama Coronavirus Cases

Confirmed Cases: 14478

Reported Deaths: 551
CountyConfirmedDeaths
Mobile1996109
Jefferson161488
Montgomery118630
Marshall6499
Tuscaloosa50512
Lee49832
Franklin4476
Shelby43319
Tallapoosa39662
Butler34411
Chambers33623
Madison2964
Baldwin2749
Elmore2637
Etowah23610
DeKalb2213
Coffee2001
Walker1981
Dallas1973
Sumter1916
Lowndes18610
Houston1644
Morgan1621
Autauga1593
Calhoun1413
Choctaw1414
Pike1360
Colbert1362
Marengo1336
Hale1293
Russell1280
Lauderdale1282
Randolph1257
Wilcox1187
Marion11310
Bullock1111
Barbour1101
Clarke1022
St. Clair1021
Pickens934
Talladega912
Greene894
Chilton871
Dale830
Cullman760
Limestone740
Jackson692
Covington651
Washington645
Winston620
Macon602
Bibb591
Crenshaw582
Henry562
Blount491
Escambia433
Lawrence420
Coosa331
Geneva330
Cherokee332
Perry310
Monroe282
Clay272
Conecuh251
Lamar200
Cleburne131
Fayette110
Unassigned00

Tennessee Coronavirus Cases

Confirmed Cases: 20111

Reported Deaths: 336
CountyConfirmedDeaths
Davidson451857
Shelby433694
Trousdale13934
Rutherford99822
Sumner81145
Bledsoe6071
Hamilton55214
Williamson51210
Tipton4263
Lake4090
Putnam3775
Robertson3711
Wilson3558
Out of TN3394
Knox3315
Bedford2654
Montgomery2403
Rhea1950
Hardeman1890
Madison1652
McMinn13413
Loudon1320
Cumberland1091
Fayette1072
Cheatham1040
Dickson1010
Macon1003
Bradley931
Blount823
Maury780
Unassigned750
Washington730
Sevier722
Coffee650
Wayne630
Sullivan612
Gibson611
Monroe572
Hickman540
Lauderdale511
Greene482
Dyer480
Franklin461
Anderson391
Marion361
DeKalb330
Hawkins312
Grundy311
Smith301
Haywood292
Henry290
Marshall281
Jefferson270
White270
Carroll271
Hamblen262
Lincoln260
Weakley260
Meigs250
Obion241
Lawrence240
Overton200
Cocke200
Carter191
Warren190
Morgan170
Cannon170
Campbell171
Jackson170
Crockett151
Roane150
Johnson150
Polk140
Perry130
McNairy120
Henderson120
Chester120
Giles120
Humphreys121
Hardin112
Scott110
Sequatchie100
Fentress100
Stewart90
Claiborne80
Houston70
Benton71
Clay70
Grainger60
Decatur50
Van Buren40
Union40
Lewis30
Moore30
Pickett30
Unicoi30
Hancock10

 

 

Community Events