STREAMING NOW: Watch Now

Market turmoil; Big Tech earnings; Automakers in trouble

1. Market turmoil: Stocks appear to have found firmer ground following rough trading sessio...

Posted: Oct 25, 2018 11:18 AM
Updated: Oct 25, 2018 11:18 AM

1. Market turmoil: Stocks appear to have found firmer ground following rough trading sessions in Asia and the United States.

US stock futures were pointing higher on Thursday, and major European indexes dropped less than 1%.

Banking, finance and investments

Barclays PLC

Business, economy and trade

Companies

Company activities and management

Company earnings

Donald Trump

Economic indicators

Economy and economic indicators

Financial markets and investing

Financial performance and reports

Financial results

Government and public administration

Government organizations - US

International trade

Political Figures - US

Political organizations

Political platforms and issues

Politics

Public finance

Securities trading

Stock indexes

Stock markets

Tax cuts

Taxes and taxation

Trade and development

US Congress

US political parties

US Republican Party

Technology

Wall Street

Continents and regions

Nasdaq

North America

The Americas

United States

Daimler AG

Automakers and manufacturing

Automotive industry

Business and industry sectors

Benchmark indexes in Asia did drop sharply, with the main market in Tokyo closing down 3.7%. Stocks dropped 1% in Hong Kong and 1.6% in Seoul.

The rout started in the United States on Wednesday.

The Dow fell more than 600 points, a 2.4% drop. The S&P 500 sank more than 3%. The Nasdaq slumped 4.4%, its worst day since August 2011.

"Investors have been worried about the potential negative impacts of higher interest rates, signs of weaker global growth and potential disruption from tariffs," said Mark Haefele, chief investment officer at UBS Global Wealth Management.

"Still, the nearly 10% decline in US stocks over the last month appears excessive relative to the risks that we highlighted."

2. Big Tech earnings: Twitter (TWTR), will publish its latest numbers before the opening bell on Thursday, while Alphabet (GOOG), Amazon (AMZN), Snap (SNAP), Expedia Group (EXPE) and Intel (INTC) will follow after the close.

It could be a painful day for Snap. The struggling messaging app is dealing with a revolving door of executives, and the stock is down a staggering 53% for the year. Analysts expect the company will report another decline in users when it releases its third quarter finances this week.

The tech earnings come amid major drops in the sector. Netflix (NFLX) nosedived 9% on Wednesday, while Facebook (FB) was down 6% and Amazon dropped 5%. Apple (AAPL) shed about 3%.

Tech stocks sank following disappointing results from Texas Instruments and AT&T (T), CNN's parent company. Concerns about increased regulations abroad in the wake of privacy scandals are also putting pressure on the sector.

3. Mercedes pain: Daimler (DDAIF), the maker of Mercedes Benz cars, has been hit by a major slowdown sales in Germany, where it faces new regulatory barriers.

The carmaker said that global sales dropped 1% compared to the same quarter last year, while net profit plunged 21%.

"The automotive industry and thus also Daimler are still in a very challenging environment. The continued high demand from our customers makes us confident for the fourth quarter," CEO Dieter Zetsche said in a statement.

Daimler shares were up 1% on Thursday.

Separately, Daimler has announced a new joint venture with China's Geely to launch an upscale ride-hailing service in China next year.

South Korea's Hyundai Motors (HYMTF) said Thursday that its net profit plunged 68% in the third quarter. Shares in the company dropped 6%.

4. Earnings and economics: The following companies will report earnings before the open: Alaska Air (ALK), American Airlines (AAL), Anheuser-Busch InBev (BUD), Bristol-Myers (BMY), Brunswick (BC), Comcast (CMCSA), ConocoPhillips (COP), Dunkin (DNKN), GrubHub (GRUB), Hershey Foods (HSY), Merck (MRK), Nielsen (NLSN), Raytheon (RTN), Royal Caribbean (RCL), Sherwin-Williams (SHW), Southwest Air (LUV), Stanley Black & Decker (SWK), T. Rowe Price (TROW), Twitter (TWTR), Union Pacific (UNP) and World Wrestling (WWE).

Chipotle Mexican Grill (CMG) and Mattel (MAT) will follow after the close.

The European Central Bank is scheduled to announce a policy decision at 7:45 a.m. ET. The bank is expected to keep benchmark rates on hold, but investors will be watching for any change in language from bank president Mario Draghi.

5. Coming this week:
Thursday — Alphabet (GOOGL), Amazon (AMZN), Altria (MO), Ally Financial (ALLY), American Airlines (AAL), Alaska Air Group (ALK), Southwest (LUV), AK Steel (AKS), Dunkin' Brands (DNKN), Boyd Gaming (BYD), Stanley Black & Decker (SWK), Sherwin-Williams (SHW), Merck & Co. (MRK), Hershey (HSY), GrubHub (GRUB), Snap Inc. (SNAP) earnings
Friday — Colgate-Palmovie (C) and Charter Communications (CHTR) earnings

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 90942

Reported Deaths: 2021
CountyConfirmedDeaths
Hennepin26054922
Ramsey10572318
Dakota7216125
Anoka5801132
Stearns381223
Washington361055
Scott245833
Olmsted231927
Nobles193616
Blue Earth16116
Wright15407
St. Louis140034
Carver13607
Rice13088
Mower12935
Clay128140
Sherburne110414
Kandiyohi9332
Winona85218
Lyon6524
Waseca5338
Freeborn5223
Steele5222
Benton5153
Watonwan5064
Nicollet50416
Todd4792
Chisago4581
McLeod4522
Le Sueur4454
Crow Wing43918
Otter Tail4004
Beltrami3795
Goodhue3329
Martin3299
Pine2840
Itasca28213
Polk2754
Isanti2650
Douglas2622
Becker2482
Carlton2451
Cottonwood2190
Pipestone2159
Unassigned21252
Morrison2081
Dodge2020
Chippewa1971
Sibley1843
Meeker1832
Brown1802
Wabasha1800
Yellow Medicine1622
Murray1572
Rock1550
Mille Lacs1503
Redwood1420
Renville1367
Jackson1341
Faribault1320
Cass1313
Swift1231
Roseau1170
Houston1140
Pennington1121
Fillmore1110
Koochiching1113
Kanabec1098
Lincoln1020
Stevens931
Pope890
Hubbard830
Aitkin731
Big Stone700
Wadena670
Grant594
Lake570
Wilkin563
Norman520
Marshall501
Lac qui Parle470
Mahnomen461
Red Lake390
Traverse300
Clearwater260
Lake of the Woods211
Kittson120
Cook60

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 80698

Reported Deaths: 1275
CountyConfirmedDeaths
Polk15366259
Woodbury504263
Johnson501127
Black Hawk437586
Linn3808108
Story331517
Dubuque282341
Scott281827
Dallas269838
Pottawattamie200238
Buena Vista195112
Marshall176234
Sioux13723
Wapello127157
Webster120214
Clinton107419
Muscatine106854
Plymouth105820
Crawford10145
Cerro Gordo100221
Warren9326
Jasper77232
Des Moines7407
Marion7265
Tama69431
Carroll6375
Henry6204
Lee5997
Wright5631
Dickinson4876
Boone4788
Bremer4687
Washington43211
Louisa42515
Mahaska34619
Delaware3423
Franklin34218
Hamilton3153
Jackson3043
Floyd3023
Winneshiek2995
Clay2963
Benton2871
Hardin2841
Winnebago27511
Butler2622
Lyon2603
Clarke2563
Emmet25210
Poweshiek2528
Buchanan2511
Allamakee2486
Jones2483
Shelby2441
Clayton2343
Guthrie2315
Kossuth2310
Cedar2231
Chickasaw2220
Sac2200
Grundy2062
Madison2062
Cherokee2042
Fayette2002
Iowa1921
Mitchell1830
Howard1826
Harrison1812
Humboldt1763
Hancock1742
Calhoun1722
Mills1691
Palo Alto1630
Pocahontas1542
Lucas1526
Monroe15010
Page1420
Monona1401
Cass1362
Jefferson1341
Osceola1300
Appanoose1253
Taylor1241
Union1223
Davis1164
Van Buren1111
Ida1030
Worth1030
Keokuk911
Fremont900
Greene890
Montgomery885
Wayne842
Audubon681
Adair671
Decatur600
Ringgold442
Adams290
Unassigned70
Rochester
Clear
58° wxIcon
Hi: 80° Lo: 55°
Feels Like: 58°
Mason City
Clear
55° wxIcon
Hi: 82° Lo: 54°
Feels Like: 55°
Albert Lea
Clear
61° wxIcon
Hi: 80° Lo: 56°
Feels Like: 61°
Austin
Clear
57° wxIcon
Hi: 81° Lo: 55°
Feels Like: 57°
Charles City
Broken Clouds
55° wxIcon
Hi: 81° Lo: 53°
Feels Like: 55°
Warmer Weather Ahead
KIMT Radar
KIMT Eye in the sky

Community Events