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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.

Cases: 3559311

Reported Deaths: 51794
CountyCasesDeaths
Los Angeles118923221241
Riverside2894503767
San Bernardino2860772783
Orange2607213982
San Diego2589823260
Santa Clara1102371777
Kern102627811
Fresno950151422
Sacramento929611464
Alameda802791241
Ventura77395834
San Joaquin665691082
Contra Costa62164674
Stanislaus55887946
Tulare47784746
Monterey42138327
San Mateo38872515
San Francisco34138398
Santa Barbara31763407
Solano30024164
Merced28915395
Sonoma28004298
Imperial26855589
Kings21951218
Placer19763232
San Luis Obispo19612227
Madera15414209
Santa Cruz14588183
Marin13136197
Yolo12787185
Shasta10969174
Butte10922160
El Dorado9095100
Napa899869
Sutter884597
San Benito575259
Yuba573336
Lassen560119
Tehama508152
Tuolumne394659
Nevada394074
Mendocino379643
Amador344841
Humboldt318033
Lake314140
Glenn221923
Colusa212813
Calaveras190547
Siskiyou174014
Inyo128736
Mono12114
Del Norte9875
Plumas6536
Modoc4524
Mariposa3957
Trinity3675
Sierra990
Alpine810
Unassigned00
Chico
Partly Cloudy
63° wxIcon
Hi: 64° Lo: 41°
Feels Like: 63°
Oroville
Clear
63° wxIcon
Hi: 62° Lo: 43°
Feels Like: 63°
Chico
Partly Cloudy
63° wxIcon
Hi: 56° Lo: 38°
Feels Like: 63°
Red Bluff
Clear
65° wxIcon
Hi: 43° Lo: 14°
Feels Like: 65°
Red Bluff
Clear
65° wxIcon
Hi: 61° Lo: 42°
Feels Like: 65°
Chico
Clear
63° wxIcon
Hi: 66° Lo: 43°
Feels Like: 63°
It was a bright and breezy Friday for northern California, however the wind has been much stronger over Modoc County where a High Wind Warning is in effect through this evening. Stronger wind and cooler air will define our weather Saturday.
KHSL Severe
KHSL Radar
KHSL Temperatures

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