Pages

Thursday, May 30, 2019

Uber earnings; More retail; Mixed markets

The company is set to release earnings from the first three months of 2019 after US markets close.
Investors will look for management to more clearly outline Uber's plans to start making money. Right now, the company isn't profitable. That's weighing on Uber shares, which have dipped 4% below their IPO price.
Uber said Wednesday that it will begin to boot riders off its app if their rating is too low, setting up standards for passengers that mirror those for drivers.
The announcement comes as Uber is expected to release a safety transparency report this year, which will include data on claims of sexual assaults and other safety incidents by drivers on its platform.
2. More retail: Another batch of retailers will share first quarter results Thursday. They'll need to impress in order to buck the dismal narrative set by rivals earlier this week.
DSW owner Designer Brands (DBI), Dollar General (DG), Dollar Tree (DLTR) and Express (EXPR) report earnings before US markets open. Gap (GPS) and Costco (COST) will follow after the close.
Despite strain from the US-China trade war, Walmart (WMT) and Target (TGT) both had strong starts to the year, and analysts expect Costco to continue big box retailers' hot streak.
Others in the sector haven't been so lucky. Abercrombie & Fitch (ANF) shares plummeted more than 26% on Wednesday after it reported weak sales growth. Canada Goose (GOOS), which also reported slowing growth, saw its stock drop 31%.
3. Mixed markets: US stock futures point slightly higher after starting the week in trouble.
The Dow is set to open up 59 points, or 0.2% higher. The Nasdaq and S&P 500 are both poised to gain 0.3%.
That follows a lower trading session for stocks in Asia. Hong Kong's Hang Seng index dipped 0.4%, while Japan's Nikkei fell 0.3%.
European markets, on the other hand, opened higher. Britain's FTSE 100 rose 0.4% and stocks in Germany and France gained about 0.6%.
US stocks are battling against the tide. The Dow fell 221 points on Wednesday to three-month lows. The S&P 500 was down 0.7%, and the Nasdaq lost 0.8%.
Nervous investors continue to flock to the bond market, sending the yield on benchmark 10-year Treasury notes to levels unseen since late 2017.
4. Coming this week:
Thursday — Second estimate of US Q1 GDP; US crude oil inventories; Dollar General (DG), DSW parent company Designer Brands, Gap and Costco earnings
Friday — UK consumer confidence; US personal spending

Let's block ads! (Why?)

from CNN.com - RSS Channel kalo berita gak lengkap buka link disamping https://cnn.it/2WrK4vT

No comments:

Post a Comment