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Shutdown looms; IBM drops; Schlumberger earnings

1. Shutdown looms: There is a very real possibility that the United States government will be forced...

Posted: Jan 19, 2018 2:58 PM
Updated: Jan 19, 2018 2:58 PM

1. Shutdown looms: There is a very real possibility that the United States government will be forced to shut down at midnight.

But investors don't appear to be too worried.

House Republicans approved a bill late Thursday that would keep the U.S. government running until mid-February. But Democrats in the Senate, some of whose support is needed to pass the measure, appear poised to take a stand.

Democrats, who have been frustrated by a lack of progress on immigration, are hoping to extract concessions in return for their votes.

Market reaction has so far been muted. U.S. stock futures were steady on Friday, and most global markets posted gains.

A brief government shutdown is not expected to have a large economic impact. But it could hurt investor, consumer and business confidence because it signals a major breakdown in the political process.

"The economic damage of a shutdown should be limited, if the shutdown is relatively short lived ... A longer slowdown would start to do more serious damage," warned Paul Donovan, global chief economist at UBS Wealth Management.

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2. Stocks to watch -- IBM, American Express: Shares in IBM and American Express could stumble on Friday.

IBM reported its first sales increase in 22 quarters after the market closed on Thursday.

Sales grew 1% last quarter, but that might not be enough to convince investors that IBM has turned its fortunes around. Shares were down by as much as 4% after the market closed on Thursday.

American Express shares were also lower in extended trading after the firm posted its first net loss since 1992.

The company said the recent tax code overhaul was the culprit. American Express estimates that it will face a $2.6 billion "charge" because of the new law, most of which will go toward a tax on profits earned overseas.

3. Hotels halted: Trading in Wanda Hotel Development was halted in Hong Kong, and investors are waiting for news about the potential sale of a business unit.

Wang Jianlin, who heads up the Wanda real estate and entertainment empire, is among China's richest men.

Wanda has been scaling back parts of its sprawling operations after coming under heightened scrutiny by Chinese authorities last year.

4. Earnings: SunTrust Banks and Schlumberger will release earnings before the open.

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5. Coming this week:

Friday -- January consumer sentiment report released by the University of Michigan; Potential government shutdown at midnight

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 48626

Reported Deaths: 2717
CountyConfirmedDeaths
Marion11723689
Lake5212244
Elkhart332051
Allen2815132
St. Joseph198168
Cass16399
Hamilton1596101
Hendricks1414100
Johnson1288117
Porter73637
Tippecanoe7279
Madison66364
Clark66044
Bartholomew58944
Howard58057
LaPorte57926
Vanderburgh5706
Kosciusko5564
Marshall4926
Noble48428
Jackson4723
LaGrange4719
Delaware45050
Boone44943
Hancock44935
Shelby43025
Floyd38244
Morgan32931
Monroe30128
Montgomery29720
Grant29526
Clinton2892
Dubois2836
Henry28016
White26510
Decatur25532
Lawrence24625
Vigo2368
Dearborn23323
Warrick22129
Harrison21622
Greene19032
Miami1842
Jennings17612
Putnam1708
DeKalb1634
Scott1628
Daviess14717
Wayne1426
Orange13523
Perry1359
Steuben1302
Franklin1268
Ripley1227
Jasper1212
Wabash1132
Carroll1102
Fayette1017
Newton9910
Whitley965
Starke933
Gibson872
Randolph804
Huntington782
Wells751
Jefferson722
Fulton711
Jay680
Washington671
Pulaski661
Knox640
Clay604
Rush583
Adams501
Owen491
Benton480
Sullivan451
Posey440
Spencer411
Blackford392
Brown391
Crawford320
Fountain322
Tipton311
Switzerland270
Martin230
Parke230
Ohio170
Vermillion140
Warren141
Union130
Pike110
Unassigned0193

Ohio Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 58904

Reported Deaths: 2970
CountyConfirmedDeaths
Franklin10587431
Cuyahoga8048379
Hamilton6158204
Lucas2788303
Marion273439
Pickaway220141
Summit2175207
Montgomery213431
Mahoning1849238
Butler163747
Columbiana130660
Stark1133113
Lorain105167
Trumbull97473
Warren88124
Clark7729
Delaware58815
Fairfield58516
Tuscarawas56810
Belmont55422
Medina53632
Lake50819
Licking49612
Miami47231
Portage44959
Ashtabula43644
Wood43651
Clermont4226
Geauga40843
Wayne36352
Richland3475
Allen32341
Mercer2879
Greene2769
Darke25326
Erie24622
Holmes2393
Huron2232
Madison1999
Ottawa15024
Sandusky13714
Crawford1365
Washington13520
Ross1303
Putnam12915
Coshocton1272
Hardin12312
Morrow1171
Auglaize1074
Jefferson912
Monroe8917
Union891
Muskingum861
Hancock791
Hocking788
Preble781
Guernsey743
Lawrence720
Williams722
Shelby694
Clinton680
Logan641
Athens631
Fulton620
Ashland601
Carroll593
Wyandot595
Brown581
Knox521
Defiance513
Fayette460
Highland451
Scioto450
Champaign411
Van Wert380
Perry351
Seneca342
Henry300
Paulding260
Adams241
Jackson240
Pike240
Vinton222
Gallia181
Harrison121
Meigs120
Morgan110
Noble110
Unassigned00
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