Stocks: 4 things to know before the bell
Tue Aug 22 2017
Lucy Harlow (474 articles)
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Stocks: 4 things to know before the bell

1. Stocks look sunny: It’s shaping up to be a positive day for the stock market.

U.S. stock futures were pointing higher and European markets gained in early trading. Most Asian markets ended the day with positive results.
This comes after a quiet Monday for stocks. The Dow Jones industrial average and S&P 500 rose 0.1% while the Nasdaq shed 0.1%.

Macy’s(M) shares were trading 1.5% higher premarket after the company announced it had poached an eBay (EBAY) executive, Hal Lawton.

The retailer also said it was simplifying the way it organizes its merchandise and enhancing its “data analytics capabilities.”

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2. Jeep power: Shares in Jeep owner Fiat Chrysler (FCAU) were on the move again on Tuesday thanks to excitement about a potential takeover.

Chinese automaker Great Wall Motors said Monday that it was exploring a bid for Fiat Chrysler, which is the parent company of brands including Jeep, Maserati, Dodge, Ram and Alfa Romeo. Fiat Chrysler, however, said Monday that it has “not been approached by Great Wall Motors.”

Fiat Chrysler shares — which have added roughly 17% in less than two weeks — shot up by 4% on Tuesday before trimming much of their gains.

Shares in Great Wall Motors were suspended from trading in Hong Kong.

3. Earnings and economics: Shoe retailer DSW (DSW) plans to release earnings before the open Tuesday. Intuit (INTU), La-Z-Boy (LZB) and Salesforce.com (CRM, Tech30) will publish earnings after the close.

Norway’s massive sovereign wealth fund said it returned 2.6% in the second quarter. The fund was boosted by the strong performance of its stock holdings, which returned 6.5% in the first half of the year. Its managers, however, warned that they “cannot expect such returns in the future.”

Germany’s closely watched ZEW economic sentiment index fell by much more than expected in August, down from 17.5 to 10.0.

“The significant decrease … reflects the high degree of nervousness over the future path of growth in Germany,” said ZEW president, Achim Wambach. “Both weaker than expected German exports as well as the widening scandal in the German automobile sector in particular have helped contribute to this situation.”

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4. Coming this week:

Tuesday — Trade talks between U.S. and South Korea; Norway’s sovereign wealth fund results
Wednesday — Samsung Galaxy event; Lowe’s (LOW) and HP (HPQ) earnings; U.S. weekly crude inventories data; WPP earnings; ECB’s Mario Draghi speaks
Thursday — Tiffany & Co (TIF) earnings; U.K. GDP; Central bankers meet in Jackson Hole, Wyoming
Friday — Verdict expected in Samsung trial; Japan inflation data; Fed chair Janet Yellen speaks


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Lucy Harlow

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe

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