| What to watch today: Dow to drop as Trump threatens China tariffs | | |  | FRI, MAY 01, 2020 | | | | AS OF FRI, MAY 01, 2020 • 08:26 ET | | Dow Jones Fut | | 24,345.72 | | Current: | 23,780.00 | | Change: | -450.00 | | Impl. Open: | -459.72 | | | S&P 500 Fut | | 2,912.43 | | Current: | 2,841.00 | | Change: | -61.50 | | Impl. Open: | -63.43 | | | NASDAQ 100 Fut | | 9,000.51 | | Current: | 8,763.50 | | Change: | -225.00 | | Impl. Open: | -225.01 | | | Russell 2000 Mini | | 1,310.66 | | Current: | 1,269.50 | | Change: | -37.20 | | Impl. Open: | -33.96 | | | Dow futures were pointing to a sharp decline at Friday's open after President Donald Trump threatened new tariffs on China over the coronavirus outbreak, which originated in the Chinese city of Wuhan late last year. The negative tone in the market on the first day of May comes after the Dow broke its three-month losing streak and finished April with its best monthly gain since January 1987. (CNBC) | | | | On Friday's economic calendar, two different measures of U.S. manufacturing activity are out this morning: One from financial information provider Markit at 9:45 am. ET, the other from the Institute of Supply Management at 10 a.m. ET. The government issues March construction spending figures at 10 a.m. ET. (CNBC) | | | | Warren Buffett has yet to comment on the coronavirus-driven stock market rout and economic nosedive. But that will change on Saturday, when the "Oracle of Omaha" takes the stage at Berkshire Hathaway's annual shareholders' meeting. There won't be an audience due to the outbreak. The event will be streamed on Yahoo Finance. (CNBC) | | Amazon, which has benefited from surging e-commerce demand and cloud reliance during the pandemic, missed estimates on first-quarter earnings but beat on revenue. Amazon said it plans to spend all of its estimated $4 billion in second-quarter profit on responding to the coronavirus crisis. (CNBC) | | | | Boeing has raised a massive $25 billion in a bond offering, the ailing aircraft maker's biggest debt sale ever. As a result, Boeing said Thursday it won't be seeking federal coronavirus aid as it faces what's expected to be a multiyear slump in air travel because of the pandemic. (CNBC) | | | | United Airlines (UAL) posted a quarterly loss of $2.57 per share, smaller than the loss of $3.47 a share that analysts were anticipating. Revenue came in below estimates, but the company said it believes it's positioned to bounce back strongly when air travel demand returns. Separately, United, along with rivals American Airlines (AAL) and Delta Air Lines (DAL), will require passengers to wear face coverings on flights. (CNBC) | | | | Joe Biden on Friday categorically denied the sexual assault allegation threatening to disrupt his presidential campaign in a statement released ahead of an interview on MSNBC's "Morning Joe," the first time the Democratic contender addressed the accusation personally. | | Restaurant Brands (QSR), The parent of Popeyes, Tim Hortons, and Burger King, fell 3 cents a share shy of consensus estimates, with quarterly profit of 48 cents per share, with revenue matching forecasts. Popeyes comparable sales surged a better-than-expected 26.2%, but Tim Hortons saw same-restaurant sales fall by a more-than-expected 10.3%. | | | | Colgate-Palmolive (CL) beat estimates by a penny a share, with quarterly profit of 75 cents per share. Revenue came in above estimates as well, boosted by a nearly 9% jump in sales of its personal care products in North America. | | | | Whirlpool (WHR) Whirlpool came in 34 cents a share ahead of estimates, with quarterly profit of $2.82 per share. The appliance maker's revenue was above forecasts as well. Whirlpool forecast a larger-than-expected double-digit decline in sales for this year as consumers put off buying some large appliances. | | | | Estee Lauder (EL) came in 13 cents a share ahead of estimates, with quarterly earnings of 86 cents per share. The cosmetics maker's revenue also was above Wall Street projections. The quarter's sales fell nearly 11%, however, due to the closure of stores and salons amid the coronavirus outbreak. | | | | Honeywell (HON) reported quarterly earnings of $2.21 per share, beating the consensus estimate of $1.95 a share. Revenue missed Street forecasts, however. Honeywell suspended full-year guidance due to the coronavirus outbreak and said it expects sales challenges as long as current market conditions persist. | | | | MGM Resorts (MGM) lost 45 cents per share for its latest quarter, 10 cents a share more than Wall Street was expecting. The casino operator's revenue also missed estimates. MGM said it planned to open two or three of its casinos in Las Vegas when the Strip is cleared to reopen. | | The fight against the coronavirus pandemic is as much about dispelling fake news and debunking conspiracy theories, as it is a global health crisis. Disinformation and false remedies have been making their rounds on social media and digital platforms as the world clamors for more information. (CNBC) | |  | | |
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