The face of Nike; Argentina meets the IMF; JD.com fallout

1. The face of Nike: Nike is throwing its weight behind one of the most polarizing figures ...

Posted: Sep 4, 2018 12:48 PM
Updated: Sep 4, 2018 12:48 PM

1. The face of Nike: Nike is throwing its weight behind one of the most polarizing figures in America: former San Francisco 49ers quarterback Colin Kaepernick.

Kaepernick will be one of the faces of Nike's 30th anniversary commemoration of its iconic "Just Do It" slogan.

The quarterback has not played in the NFL since the 2016 season, when he began kneeling during the national anthem to protest police brutality against African-Americans and other racial injustices.

Nike is gambling that its customers support his protest, or at least that enough of them do. The company is also betting its brand can withstand criticism from conservative corners, including the White House.

2. Argentina meets the IMF: Argentina is getting rid of half of its government ministries and hiking taxes on exports as it grapples with the collapse of its currency.

President Mauricio Macri announced a series of austerity measures on Monday, the day before his government is due to meet officials from the International Monetary Fund.

Argentina is trying to speed up the release of cash from a $50 billion bailout plan.

The Argentine peso has cratered this year with investors worried about the government's ability to pay its debts. It has lost more than 50% of its value against the US dollar.

Last week, the central bank increased interest rates to 60% in an attempt to stabilize the peso.

3. JD.com fallout: Investors will have their first chance Tuesday to react to the arrest of JD.com CEO Richard Liu.

Liu, the billionaire founder of one of China's largest e-commerce sites, has returned to China after being arrested in Minneapolis late Friday on suspicion of sexual misconduct.

JD.com has said Liu was falsely accused while on a business trip.

JD.com is China's second-largest online shopping site after Alibaba. It's listed on the Nasdaq.

4. Global market overview: US stock futures were higher.

European markets were little changed in early trading. Asian markets ended mixed, with indexes in Shanghai and Hong Kong adding roughly 1%.

The Dow Jones industrial average dropped 0.1% on Friday, while the S&P 500 was flat and the Nasdaq gained 0.3%.

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5. Earnings and economics: Restoration Hardware will release earnings after the close.

Amazon closed at $2,012.71 per share on Friday for a market cap of $981.7 billion. It could become the second American company to cross $1 trillion in value after Apple crossed the threshold on August 2.

Bank of England Governor Mark Carney will face questions from UK lawmakers on Tuesday. The big question is whether Carney will remain in his post longer than expected and lead the central bank through Brexit.

Shares in WPP dropped sharply in London after the advertising conglomerate reported a sales decline in North America. Mark Read, who was named Monday as the replacement for former CEO Martin Sorrell, said a review of the firm's structure and strategy was underway.

The Institute for Supply Management will release its US ISM Index for August at 10 a.m. ET.

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6. Coming this week:
Tuesday — Restoration Hardware earnings
Wednesday — DocuSign and Vera Bradley earnings; Twitter and Facebook executives testify before the Senate Intelligence Committee
Thursday — Barnes & Noble, Broadcom and GameStop earnings; NFL regular season begins
Friday — Jobs report

Minnesota Coronavirus Cases

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Reported Deaths: 1159
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Hennepin9099657
Ramsey3351149
Stearns205614
Nobles15775
Anoka152779
Dakota144664
Washington70035
Olmsted68911
Rice5243
Kandiyohi5141
Scott4712
Clay44930
Mower4462
Wright3492
Todd3441
Sherburne2492
Carver2402
Benton1853
Steele1700
Freeborn1590
Blue Earth1490
Martin1355
St. Louis11914
Lyon1012
Unassigned9611
Pine930
Nicollet8811
Cottonwood820
Winona8115
Crow Wing815
Watonwan790
Carlton750
Goodhue736
Otter Tail731
Chisago691
Polk632
Itasca5610
Dodge540
Chippewa521
Morrison480
Le Sueur471
Douglas460
Meeker460
Becker440
Jackson420
Murray410
McLeod410
Isanti360
Pennington300
Waseca290
Mille Lacs241
Rock230
Faribault220
Wabasha200
Swift191
Beltrami180
Sibley170
Brown172
Fillmore171
Norman150
Pipestone130
Kanabec121
Aitkin120
Marshall120
Cass112
Big Stone110
Wilkin113
Wadena100
Pope100
Koochiching90
Redwood70
Yellow Medicine70
Renville70
Mahnomen61
Lincoln60
Red Lake40
Traverse40
Grant40
Clearwater30
Houston30
Hubbard30
Lac qui Parle30
Roseau30
Stevens10
Lake10
Kittson10

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 21114

Reported Deaths: 593
CountyConfirmedDeaths
Polk4614140
Woodbury286137
Black Hawk178849
Buena Vista10672
Linn97879
Dallas95226
Marshall91418
Wapello63615
Johnson6198
Muscatine56741
Crawford5512
Tama41129
Scott38510
Dubuque35921
Louisa35011
Pottawattamie31910
Sioux3060
Jasper26917
Wright2210
Washington1968
Warren1671
Plymouth1522
Story1311
Allamakee1204
Mahaska9913
Poweshiek928
Hamilton760
Webster741
Henry732
Boone720
Bremer716
Clarke690
Des Moines681
Taylor660
Clinton651
Guthrie553
Cedar501
Benton431
Cherokee410
Monroe415
Jones370
Shelby370
Osceola360
Jefferson360
Marion350
Dickinson350
Buchanan341
Iowa340
Clayton343
Cerro Gordo331
Madison292
Lee290
Sac280
Davis280
Emmet270
Fayette270
Clay270
Monona260
Harrison260
Hardin240
Lyon240
Winneshiek240
Lucas222
Mills200
Grundy200
Franklin200
Humboldt201
Pocahontas200
Delaware191
Floyd191
Hancock180
Appanoose173
Butler161
Kossuth160
Carroll151
Ida150
Greene150
Keokuk140
Jackson140
Page140
Audubon131
Cass130
Chickasaw130
Howard120
Winnebago110
Calhoun100
Union100
Van Buren90
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Montgomery92
Adams70
Palo Alto70
Ringgold40
Fremont40
Mitchell40
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Unassigned20
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