BREAKING NEWS DA: Red Bluff man arrested on suspicion of murder will not face charges Full Story
BREAKING NEWS 'A community icon.' Former Redding police chief dies at 72 Full Story
BREAKING NEWS Multi-state double murder investigation lands 3 in Butte County Jail Full Story

US stocks weaken; Walmart earnings; HSBC stumbles

1. More volatility?: US stock futures are pointin...

Posted: Feb 20, 2018 1:06 PM
Updated: Feb 20, 2018 1:06 PM

1. More volatility?: US stock futures are pointing down on Tuesday after investors had a long weekend to consider their next moves.

The Dow Jones industrial average and S&P 500 are set to start trading on the back foot following a six-day winning streak.

Global stock markets dropped sharply earlier this month, with many falling by about 10%. They've been in recovery mode since then.

European markets are mostly rising in early trading, though the gains are modest.

Most Asian markets ended the day with losses. The Nikkei in Tokyo dropped 1%.

2. Takeover time: Shares in Rite Aid are surging on Tuesday after Albertsons agreed to buy the drug store company and its thousands of stores.

Rite Aid recently struck a deal with Walgreens Boots Alliance worth $4.4 billion to hand over nearly 2,000 of its stores. Albertsons is now buying the rest.

The deal has been designed in such a way that, once completed, the privately held Albertsons will become a publicly traded company on the New York Stock Exchange.

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

3. Earnings: Walmart and Home Depot are two of the bigger names reporting earnings ahead of the opening bell.

Walmart, the nation's largest private-sector employer, beat Wall Street forecasts last quarter and posted impressive online growth. Since then, Walmart has announced that it is both raising pay and shutting 63 Sam's Clubs locations, so executives will have a lot to talk about.

Home Depot has also been in the headlines, announcing plans last week to add 80,000 seasonal or permanent part-time workers, the same number it hired last year. To make it easier to fill the jobs it is allowing applicants to schedule interviews online for the first time.

Additionally, Cracker Barrel, Domino's Pizza, Gannett, MGM Resorts and Six Flags are releasing earnings before the open. Transocean and La-Z-Boy plan to release earnings after the close.

4. Market movers -- HSBC, InterContinental Hotels: Shares in HSBC are dropping by about 4.5% in London as investors reacted to the global bank's latest annual results and news that it plans to raise up to $7 billion in new capital in the first half of this year.

Fiona Cincotta, a senior market analyst at City Index, said the earnings showed "a disappointing loss of momentum," rising exposure to bad debts and profit margins that were under pressure.

Investors were also left disappointed that the company didn't announce a new plan for share buybacks.

"Overall, though, the bank is in far greener pastures than it was a few years ago," Cincotta said.

Shares in InterContinental Hotels Group are also dropping by about 5% in London after the hotel chain reported its latest annual results.

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

5. Coming this week:

Tuesday - Home Depot and Walmart earnings
Wednesday - FOMC minutes released
Thursday - Hewlett-Packard Enterprise and Chesapeake Energy earnings
Friday - Potbelly earnings

California Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 893364

Reported Deaths: 17256
CountyConfirmedDeaths
Los Angeles2940656956
Riverside653861279
San Bernardino615501070
Orange578481434
San Diego53498866
Kern33630415
Fresno30328430
Sacramento24957480
Santa Clara23679385
Alameda23001456
San Joaquin21473488
Contra Costa18342240
Stanislaus17455395
Tulare17365282
Ventura14050160
Imperial12668336
San Francisco12000138
Monterey1122586
San Mateo10961157
Santa Barbara9688119
Merced9415154
Sonoma9099134
Kings818683
Solano724974
Marin7038128
Madera494574
San Luis Obispo409232
Placer405257
Yolo311958
Butte304151
Santa Cruz274425
Napa191815
Shasta183930
Sutter183012
San Benito141915
El Dorado13064
Yuba128810
Mendocino111821
Tehama8248
Lassen7641
Lake67815
Glenn6493
Nevada6018
Humboldt5619
Colusa5496
Calaveras33917
Amador31316
Tuolumne2584
Inyo22015
Siskiyou1870
Mono1762
Del Norte1751
Mariposa782
Plumas630
Modoc280
Trinity250
Sierra60
Alpine30
Unassigned00
Chico
Clear
79° wxIcon
Hi: 81° Lo: 48°
Feels Like: 79°
Oroville
Clear
78° wxIcon
Hi: 79° Lo: 49°
Feels Like: 78°
Paradise
Clear
79° wxIcon
Hi: 74° Lo: 51°
Feels Like: 79°
Chester
Clear
59° wxIcon
Hi: 66° Lo: 38°
Feels Like: 59°
Red Bluff
Clear
81° wxIcon
Hi: 82° Lo: 49°
Feels Like: 81°
Willows
Clear
79° wxIcon
Hi: 82° Lo: 45°
Feels Like: 79°
Winds will not be as strong today, but the Red Flag Warning for high fire danger will continue through 5pm. Pleasant conditions are ahead for your Saturday, but then a more substantial wind event will bring extreme fire danger back into our forecast from Sunday through Monday.
KHSL Severe
KHSL Radar
KHSL Temperatures

Community Events