Big earnings day; Berkshire on the move; SoftBank cashes in

1. Earnings roll on: Newell Brands, SeaWorld Entertainment, Sotheby's and Tyson Foods will ...

Posted: Aug 6, 2018 1:45 PM
Updated: Aug 6, 2018 1:45 PM

1. Earnings roll on: Newell Brands, SeaWorld Entertainment, Sotheby's and Tyson Foods will release earnings before the open.

Hertz Global, Marriott, Weight Watchers and Zillow will follow after the close.

HSBC reported a pretax profit of $10.7 billion for the first half of the year, up 5% from the same period in 2017. SoftBank said its operating profit surged nearly 50% in the first quarter, thanks in part to the sale of its stake in Indian e-commerce firm Flipkart.

2. Global stock market overview: US stock futures were looking soft.

European markets inched lower in early trading, with Germany's DAX dropping 0.6%. Data showed that German factory orders fell 4% in June compared to May.

"Soft German orders data are reviving fears that the European economy is heading in the wrong direction again," said Kit Juckes, a market strategist at Societe Generale.

Asian markets ended the day with mixed results. The Shanghai Composite shed 1.3%.

The Dow Jones industrial average gained 0.1% last week. The S&P 500 and Nasdaq posted stronger gains of 0.8% and 1% over the week.

3. Stock market mover — Berkshire Hathaway: Shares in Berkshire Hathaway were set to jump at the open after the conglomerate released earnings on Friday after the close.

The filings show that Berkshire's 5% stake in Apple is now worth nearly $50 billion. That's by far the most valuable stake it has in any one company.

Berkshire's quarterly operating profits shot up 67% to $6.9 billion.

Berkshire is led by Warren Buffett and operates in the insurance, utility, manufacturing and railroad sectors. It also has a vast investment portfolio.

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4. Sanctions pain: The United States is reimposing sanctions on Iran on Monday, barring Iranian purchases of dollars and metals including gold. It will also prevent Americans from buying the Iranian currency, the country's debt and some Iranian goods.

The sanctions are part of the Trump administrations' decision to pull out of a deal aimed at preventing Iran's development of nuclear weapons.

More sanctions, mostly involving energy and shipping, will take effect November 4.

The Turkish lira hit a fresh record low against the US dollar on Monday amid rising tensions with the United States. The US Treasury Department placed sanctions last week on Turkey's ministers of justice and interior over the detention of pastor Andrew Brunson.

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5. Coming this week:
Monday — Marriott, Weight Watchers and Hertz earnings
Tuesday — Disney, Snap, Papa John's and Avis Budget earnings
Wednesday — 21st Century Fox, CVS Health and New York Times earnings
Thursday — Viacom earnings, Samsung holds its "Unpacked" event where it's expected to unveil a new Galaxy smartphone
Friday — US monthly inflation report

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 485230

Reported Deaths: 6554
CountyCasesDeaths
Hennepin1006801585
Ramsey43047801
Dakota36254390
Anoka33274384
Washington22065255
Stearns18723201
St. Louis14794262
Scott13273107
Wright12517115
Olmsted1177988
Sherburne871572
Carver771040
Clay690387
Rice670091
Blue Earth593835
Kandiyohi579474
Crow Wing519681
Chisago498445
Otter Tail481870
Benton446190
Winona418049
Mower404131
Douglas392568
Nobles386847
Goodhue385568
Polk342762
McLeod339349
Beltrami337351
Morrison324247
Lyon313044
Itasca312746
Becker310941
Isanti305754
Carlton300149
Steele299711
Pine282016
Freeborn280523
Nicollet258141
Todd247830
Brown244637
Le Sueur235020
Mille Lacs227247
Cass219924
Waseca208917
Meeker207434
Martin189328
Wabasha18623
Roseau180217
Hubbard160640
Houston157314
Dodge15214
Renville149540
Redwood147027
Fillmore13728
Chippewa136335
Cottonwood134820
Pennington134116
Wadena130920
Faribault122917
Aitkin118933
Sibley117310
Watonwan11728
Rock115714
Kanabec107419
Pipestone101424
Yellow Medicine97617
Murray9438
Jackson93510
Swift87918
Pope8025
Marshall77815
Stevens7418
Lake73718
Clearwater71914
Lac qui Parle68316
Wilkin67110
Koochiching61811
Big Stone5163
Lincoln5062
Grant4918
Unassigned47968
Norman4768
Mahnomen4417
Kittson40821
Red Lake3625
Traverse3055
Lake of the Woods2191
Cook1180

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 362189

Reported Deaths: 5414
CountyCasesDeaths
Polk58146549
Linn20653312
Scott18288207
Black Hawk16249291
Woodbury14961211
Johnson1383473
Dubuque13537194
Dallas1135890
Pottawattamie10765143
Story1021645
Warren555274
Clinton543284
Cerro Gordo533681
Webster518787
Marshall496272
Sioux494369
Buena Vista473236
Des Moines457661
Muscatine451191
Wapello4330108
Jasper416966
Plymouth394577
Lee375352
Marion359069
Jones294154
Henry292737
Carroll285548
Bremer280154
Crawford274735
Boone259630
Washington254147
Benton252854
Mahaska224346
Jackson221438
Dickinson217439
Tama213465
Kossuth208154
Clay193525
Hamilton192042
Delaware188839
Winneshiek188427
Buchanan185129
Fayette185035
Page183219
Hardin181039
Wright179731
Harrison179669
Cedar177923
Clayton168053
Butler166331
Mills163120
Floyd162740
Madison154518
Cherokee153935
Poweshiek153730
Hancock146829
Lyon145841
Allamakee145646
Iowa144423
Appanoose139147
Grundy139030
Jefferson138232
Winnebago138230
Cass134151
Calhoun133711
Mitchell130840
Louisa128241
Union126331
Chickasaw125213
Sac124218
Emmet121240
Shelby121033
Franklin118419
Humboldt117425
Guthrie116528
Palo Alto104921
Montgomery103936
Howard103121
Clarke100520
Unassigned9890
Keokuk98129
Monroe93128
Adair91928
Ida91032
Pocahontas85519
Davis82623
Monona81627
Greene77310
Lucas73821
Osceola70514
Worth6987
Taylor66412
Fremont5919
Decatur5789
Van Buren55918
Ringgold52020
Wayne48821
Audubon4869
Adams3264
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