Investors take a breather; Cisco looks sick; Walmart earnings

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1. Take a deep breath: traders are taking stock after markets took a big tumble on Wednesday, unnerved via events on the White home.

U.S. stock futures are conserving regular at this time.

The Dow Jones industrial reasonable and S&P 500 dropped 1.8% and the Nasdaq was down 2.6% on Wednesday, as a series of scandals engulfing the Trump administration induced investors to hit the sell button.

Trump’s presidency has helped elevate stocks for months in keeping with expectations that he’ll cut taxes and regulations and put money into infrastructure, however investors are beginning to query his capacity to ship.

international stock markets stay worried. All European and Asian indexes are off by means of about 0.5%. The Nikkei 225 index in Japan was once among the worst performers of the day after a 1.three% drop.

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2. stock market movers — L brands, Cisco, Pandora: get ready for some dramatic moves from L manufacturers (LB) and Cisco methods (CSCO, Tech30) when shares start trading on Thursday.

investors are cheering the most recent quarterly results from Victoria’s Secret-proprietor L manufacturers, which got here out on Wednesday afternoon.

but they’re promoting shares in Cisco after the company pronounced disappointing revenue figures. The tech large also mentioned it planned to cut a further 1,a hundred body of workers.

Shares in Pandora Media (P) are also rising with the aid of about 12% in accordance with experiences that Sirius XM is taking into consideration bidding for the streaming radio agency. Rumors have been swirling for months that Sirius could acquire Pandora. Sirius declined to comment on the topic.

three. cash: Alibaba (BABA, Tech30), Ralph Lauren (RL) and Walmart (WMT) are releasing earnings ahead of the open on Thursday.

hole (GPS) and Salesforce.com (CRM, Tech30) plan to release cash after the close.

four. jap comeback: Japan is taking part in its longest run of economic boom in additional than a decade.

the world’s 0.33 biggest economic system elevated 2.2% in the first three months of the year, in step with authentic data Thursday, up from 1.four% in the earlier quarter.

it can be the fifth quarter of growth in a row for Japan, the u . s . a .’s longest profitable streak due to the fact 2006.

the most recent numbers verify that “the japanese financial system is still on strong footing,” mentioned Naohiko Baba, chief Japan economist at Goldman Sachs.

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5. Coming this week:

ThursdayWalmart (WMT) and hole (GPS) earnings
FridayFoot Locker (FL) earnings

CNNMoney (London) First published may 18, 2017: 4:fifty nine AM ET

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