1. Retail review: Several retailers are reporting earnings this week after Macy's kicked things off on Tuesday with better-than-expected results. Macy's offered a healthy outlook for this year, suggesting there is still room in the market for traditional stores even though online companies like Amazon are encroaching on their territory.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +50.00 | | +9.25 | | +4.00 | | +0.20% | | +0.13% | | +0.15% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -321.62 | | -32.66 | | -22.89 | | 22,068.24 | | 3,259.41 | | 7,259.56 | | -1.44% | | -0.99% | | -0.31% | | | |
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| | | Biggest Winners | | Qualcomm Inc | +1.37% | | | | Perrigo Company PLC | +1.29% | | | | Macy's Inc | +1.06% | | | | General Electric Co | +0.90% | | | Biggest Losers | | Celgene Corp | -6.82% | | | | Lowe's Companies Inc | -2.91% | | | | General Motors Co | -0.82% | | | | General Mills Inc | -0.65% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Retailers report; GDP updates; Stocks muddle along | By Alanna Petroff
Wednesday, February 28th, 5:01am | | | | 1. Retail review: Several retailers are reporting earnings this week after Macy's kicked things off on Tuesday with better-than-expected results. | | | | Macy's offered a healthy outlook for this year, suggesting there is still room in the market for traditional stores even though online companies like Amazon are encroaching on their territory. | | | | L Brands, Crocs and TJX are set to publish their results on Wednesday, alongside Lowe's, which has mostly avoided the troubles plaguing the rest of the industry. | | | | Kohl's, Nordstrom, Best Buy and Gap are set to report Thursday. And Foot Locker and JCPenney report Friday. | | | | 2. Economic update: The US Bureau of Economic Analysis is releasing its updated report on fourth quarter GDP at 8:30 a.m. ET. The original GDP estimate showed the economy grew at an annual rate of 2.6% in the fourth quarter. | | | | Paul Donovan, global chief economist at UBS Wealth Management, said investors shouldn't get too "worked up" over any potential revisions. | | | | "The broad picture is of a US economy performing at or above trend," he said. | | | | India is also due to publish its GDP figures at 7 a.m. ET. A Reuters poll estimates the economy grew by 6.9% in the October-December quarter. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 3. Global market overview: There's a fair bit of negativity in global stock markets right now. | | | | US stock futures are indicating Wall Street could inch higher at the open, but most key markets are sinking in Europe and Asia. | | | | A worse-than-expected Chinese manufacturing report for February is blamed for hitting market sentiment in Asia. | | | | This comes after the Dow Jones industrial average, S&P 500 and Nasdaq all dropped by more than 1% on Tuesday. The selling was blamed on concerns about more interest rate hikes after Federal Reserve chair Jerome Powell publicly expressed confidence about growth prospects for the American economy. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| | | | | | Wednesday — Second estimate of US Q4 GDP; Earnings from Lowe's, TJX, Salesforce, L Brands, Monster Beverage and Mylan
Thursday — Earnings from Best Buy, Kohl's, Nordstrom, Gap and Barnes & Noble; Federal Reserve chairman Jerome Powell testifies before the Senate Banking Committee
Friday — Foot Locker and JCPenney earnings | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $62.95 | -0.06 / -0.10% | | | Gold | $1,321.20 | +2.60 / +0.20% | | | 10-yr | 2.91% | 0.00 / 0.00% | | | Euro | $1.22 | -0.00 / -0.08% | | | |
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