Shutdown looms; IBM drops; Schlumberger earnings

1. Shutdown looms: There is a very real possibility that the United States government will be forced...

Posted: Jan 19, 2018 1:58 PM
Updated: Jan 19, 2018 1:58 PM

1. Shutdown looms: There is a very real possibility that the United States government will be forced to shut down at midnight.

But investors don't appear to be too worried.

House Republicans approved a bill late Thursday that would keep the U.S. government running until mid-February. But Democrats in the Senate, some of whose support is needed to pass the measure, appear poised to take a stand.

Democrats, who have been frustrated by a lack of progress on immigration, are hoping to extract concessions in return for their votes.

Market reaction has so far been muted. U.S. stock futures were steady on Friday, and most global markets posted gains.

A brief government shutdown is not expected to have a large economic impact. But it could hurt investor, consumer and business confidence because it signals a major breakdown in the political process.

"The economic damage of a shutdown should be limited, if the shutdown is relatively short lived ... A longer slowdown would start to do more serious damage," warned Paul Donovan, global chief economist at UBS Wealth Management.

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2. Stocks to watch -- IBM, American Express: Shares in IBM and American Express could stumble on Friday.

IBM reported its first sales increase in 22 quarters after the market closed on Thursday.

Sales grew 1% last quarter, but that might not be enough to convince investors that IBM has turned its fortunes around. Shares were down by as much as 4% after the market closed on Thursday.

American Express shares were also lower in extended trading after the firm posted its first net loss since 1992.

The company said the recent tax code overhaul was the culprit. American Express estimates that it will face a $2.6 billion "charge" because of the new law, most of which will go toward a tax on profits earned overseas.

3. Hotels halted: Trading in Wanda Hotel Development was halted in Hong Kong, and investors are waiting for news about the potential sale of a business unit.

Wang Jianlin, who heads up the Wanda real estate and entertainment empire, is among China's richest men.

Wanda has been scaling back parts of its sprawling operations after coming under heightened scrutiny by Chinese authorities last year.

4. Earnings: SunTrust Banks and Schlumberger will release earnings before the open.

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5. Coming this week:

Friday -- January consumer sentiment report released by the University of Michigan; Potential government shutdown at midnight

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 62303

Reported Deaths: 1724
CountyConfirmedDeaths
Hennepin19677840
Ramsey7775269
Dakota4558106
Anoka3792115
Stearns291320
Washington219247
Olmsted178123
Nobles17736
Scott160822
Mower11072
Rice10428
Blue Earth9415
Wright9035
Carver8903
Clay79240
Sherburne73710
Kandiyohi7051
St. Louis60020
Todd4292
Lyon4253
Freeborn3601
Nicollet35113
Steele3512
Watonwan3281
Benton3233
Winona26516
Beltrami2490
Crow Wing24614
Le Sueur2301
Martin2095
McLeod2080
Chisago2071
Goodhue2029
Otter Tail1983
Cottonwood1770
Becker1611
Pipestone1589
Polk1564
Waseca1490
Itasca14612
Carlton1450
Douglas1442
Unassigned13346
Dodge1310
Isanti1310
Pine1290
Murray1241
Chippewa1091
Morrison931
Wabasha920
Brown892
Faribault890
Meeker872
Rock850
Sibley842
Koochiching803
Jackson790
Cass762
Pennington751
Mille Lacs723
Fillmore710
Renville675
Lincoln590
Grant563
Swift551
Roseau530
Yellow Medicine520
Pope480
Houston440
Aitkin401
Norman400
Kanabec372
Redwood360
Hubbard350
Wilkin353
Marshall290
Mahnomen271
Wadena270
Red Lake240
Big Stone220
Lake220
Stevens180
Clearwater140
Traverse110
Lac qui Parle80
Cook50
Lake of the Woods40
Kittson30

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 49830

Reported Deaths: 948
CountyConfirmedDeaths
Polk10535208
Woodbury375452
Black Hawk318066
Linn244588
Johnson212320
Dallas191335
Buena Vista179712
Scott175814
Dubuque172231
Marshall145226
Pottawattamie135029
Story118115
Wapello92733
Muscatine85748
Webster8428
Crawford7363
Sioux6503
Cerro Gordo64417
Warren5821
Tama55629
Jasper48427
Wright4781
Plymouth47412
Clinton4214
Dickinson3854
Louisa37814
Washington30510
Boone2663
Hamilton2521
Franklin24812
Bremer2317
Clarke2063
Clay2031
Carroll1962
Des Moines1942
Emmet1934
Shelby1871
Hardin1850
Marion1770
Floyd1633
Benton1601
Poweshiek1598
Allamakee1584
Jackson1581
Mahaska14217
Guthrie1375
Henry1364
Cedar1351
Jones1342
Buchanan1301
Butler1272
Madison1272
Delaware1231
Hancock1232
Humboldt1221
Lee1214
Lyon1192
Pocahontas1182
Cherokee1101
Harrison1101
Clayton1083
Taylor1000
Iowa971
Winneshiek971
Page960
Kossuth950
Mills931
Monona910
Palo Alto900
Winnebago890
Jefferson870
Calhoun862
Fayette860
Sac860
Osceola850
Cass821
Grundy821
Mitchell800
Union781
Monroe748
Lucas734
Worth680
Davis612
Montgomery604
Chickasaw560
Appanoose523
Howard500
Fremont440
Greene420
Keokuk391
Van Buren361
Adair340
Ida320
Audubon291
Decatur260
Ringgold231
Wayne201
Adams170
Unassigned70
Rochester
Clear
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Mason City
Clear
74° wxIcon
Hi: 85° Lo: 65°
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Albert Lea
Clear
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Hi: 83° Lo: 67°
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Austin
Clear
73° wxIcon
Hi: 85° Lo: 66°
Feels Like: 73°
Charles City
Few Clouds
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Sever storm chances return for Friday night
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