1. Retailers report: Another round of retail earnings is keeping the US-China trade war front of mind for investors. Retailers including Abercrombie & Fitch and Dick's Sporting Goods report earnings from the first three months of the year on Wednesday. Both are expected to post results before the US market open.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -159.00 | | -61.00 | | -17.00 | | -0.63% | | -0.84% | | -0.61% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -256.77 | | +4.79 | | -93.18 | | 21,003.37 | | 2,914.70 | | 7,175.77 | | -1.21% | | +0.16% | | -1.28% | | | |
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| Biggest Winners | | Hartford Financial Services Group Inc | +1.32% | | | | Newmont Goldcorp Corp | +0.57% | | | | Perrigo Company PLC | +0.34% | | | Biggest Losers | | General Mills Inc | -3.58% | | | | TechnipFMC PLC | -2.09% | | | | DowDuPont Inc | -1.95% | | | | EOG Resources Inc | -1.54% | | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Retailers report; Stocks slide; Exxon meeting | | By Julia Horowitz, CNN Business | | | | 1. Retailers report: Another round of retail earnings is keeping the US-China trade war front of mind for investors. | | | | Retailers including Abercrombie & Fitch and Dick's Sporting Goods report earnings from the first three months of the year on Wednesday. Both are expected to post results before the US market open. | | | | DSW parent company Designer Brands, Gap and Costco will follow suit and report earnings on Thursday. | | | | Major retailers have developed strategies to blunt the impact of tariffs so far. But they're starting to warn that the trade war is affecting business. | | | | Walmart, Target, Home Depot, Kohl's and Macy's all said that the tariffs have forced them to either alter their financial outlooks, remodel carefully crafted supply chains or consider raising price tags for customers. | | | | 2. Markets slide: US stock futures were pointing lower on Wednesday after a rough start to the week. | | | | The Dow is set to open down 148 points, or 0.6%. The Nasdaq could drop 0.8% and the S&P 500 is poised to fall 0.6%. | | | | That follows a difficult trading session in Asia. Hong Kong's Hang Seng index dropped 0.5% and Japan's Nikkei shed 1.2%. The exception was the Shanghai Composite index, which gained almost 0.2%. | | | | Want more markets? Watch CNN's "Markets Now" digital live show Wednesday at 12:45 p.m. ET. | | | | European markets are building off those losses in early trading. Britain's FTSE 100 dropped 1.1%, while France's CAC 40 lost 1.6% and Germany's DAX index fell 1.2%. | | | | The Dow lost almost 240 points, or 0.9%, on Tuesday as trade anxiety continued to weigh on stocks. The S&P 500 dipped 0.8%, and the Nasdaq lost 0.4%. | | | | 3. Exxon meeting: ExxonMobil is bracing for stiff opposition at Wednesday's annual shareholder meeting from activists and shareholders upset with the oil giant's stance on climate change. | | | | Significant attention will be paid to a shareholder proposal that calls for Exxon to install an independent board chairman during its next CEO transition. Exxon opposes the measure, but the structural change has support from key shareholders including the Church of England's endowment fund and the New York state pension fund. | | | | A key source of tension: Exxon's successfully lobbied the SEC to block a separate resolution they proposed that would have urged the company to adopt and disclose greenhouse gas emissions targets. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | | | | |
| | | | | | Wednesday — Abercrombie & Fitch and Dick's Sporting Goods earnings; ExxonMobil shareholder meeting
Thursday — Second estimate of US Q1 GDP; Dollar General, DSW parent company Designer Brands, Gap and Costco earnings
Friday — UK consumer confidence; US personal spending | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $57.91 | -1.23 / -2.08% | | | Gold | $1,282.50 | +5.40 / +0.42% | | | 10-yr | 2.27% | -0.06 | | | Euro | $1.12 | -0.00 / -0.10% | | | |
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