Stock markets dip; Diesel ban ruling; Tobacco company suffers

1. Negative sentiment takes hold: US stock futures...

Posted: Feb 22, 2018 11:10 AM
Updated: Feb 22, 2018 11:10 AM

1. Negative sentiment takes hold: US stock futures are pointing down again, indicating it could be another negative day on Wall Street.

The Dow Jones industrial average and S&P 500 have declined for the past two consecutive days. The Nasdaq has ended down three days in a row.

European markets are also falling in early trading, with Germany's Dax index leading the way with a 1.1% drop. The Ifo business climate index released Thursday showed a considerable cooling in business sentiment in February.

Most Asian markets ended the day in the red. But major Chinese indexes bucked the trend, closing higher on the first day of trading after a holiday.

U.S. Treasury yields continue to sit near four-year highs around 2.9%, providing an increasingly tempting alternative to stocks.

2. Germany's diesel ruling: The highest court in Germany will rule later Thursday on whether big cities such as Stuttgart and Duesseldorf should introduce strict limits on diesel vehicles, or possibly outright bans.

German drivers and automakers -- including Volkswagen, BMW and Mercedes Benz-maker Daimler -- have been bracing for bans in some cities due to growing concern about air pollution and its impact on health.

About 40% of cars in Europe use diesel, according to the European Automobile Manufacturers' Association.

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3. Earnings: Chesapeake Energy, Gildan Activewear, Hormel Foods and JAKKS Pacific are releasing earnings before the open Thursday.

Then GoDaddy, Herbalife, Hewlett Packard Enterprise, HP, Intuit, Planet Fitness, Red Robin Gourmet and Wingstop are set to release earnings after the close.

4. Market movers -- Qantas, Barclays, Ruger, British American Tobacco: Shares in Qantas soared by nearly 6% on Thursday after the Australian airline reported well-received half-year results.

Shares in Barclays are also rising by about 5% in London as investors cheered the company's annual report.

Shares in gun manufacturer Sturm Ruger are expected to dip a bit when trading opens in the US. The company said on Wednesday that net sales fell 27% in the fourth quarter of 2017, and profits were nearly cut in half.

The company, which makes a wide variety of handguns and rifles, said weaker demand was partly to blame.

One of the worst performers is British American Tobacco. Its stock is down by about 5% in London after the cigarette maker reported disappointing annual results.

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5. Coming this week:

Thursday - Hewlett Packard Enterprise and Chesapeake Energy earnings
Friday - Potbelly earnings

California Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 122168

Reported Deaths: 4444
CountyConfirmedDeaths
Los Angeles596922532
Riverside8303345
San Diego7798283
Orange6783165
San Bernardino5650209
Alameda364197
Santa Clara2850144
San Francisco264443
Imperial249330
Kern246245
San Mateo224484
Tulare208392
Fresno194437
Santa Barbara171414
Contra Costa154738
Sacramento149058
Ventura119035
Kings11876
San Joaquin102436
Stanislaus79230
Monterey62110
Sonoma5934
Solano55922
Marin52517
Merced3107
San Luis Obispo2881
Placer2599
Santa Cruz2192
Yolo21624
Madera1293
Napa1263
Humboldt1044
El Dorado980
San Benito962
Butte601
Nevada491
Sutter482
Del Norte470
Shasta404
Mono371
Mendocino330
Yuba311
Lake300
Inyo201
Glenn170
Calaveras160
Mariposa161
Amador100
Siskiyou90
Colusa70
Tehama61
Tuolumne50
Lassen50
Plumas40
Alpine20
Sierra10
Trinity10
Unassigned00
Chico
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We're finally seeing some relief from the heat on the way for your Friday. We'll be around 10 degrees cooler than Thursday on Friday and clouds will be returning for your afternoon. Much cooler with the chance for active weather on the way for your weekend.
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