STOCKS/ECONOMY
-Stock futures are lower after Monday's 650-point loss for the Dow, larger 1.8 percent selloff for the S&P 500, and a 2.6 percent fall for the Nasdaq. Investors are bracing for impact as new tariffs on Canadian and Mexican imports did go into effect as-scheduled today.
-The yield on the 10-year Treasury bond is down to 4.14 percent.
-Gold is up to the $2,935 per ounce level. Bitcoin is down to the $83,400 level.
-Asian markets closed mostly lower today, led by a 1.2 percent selloff for the Nikkei. The Hang Seng lost 0.3 percent, and the Shenzhen gained 0.3 percent.
OIL/ENERGY
-U.S. crude prices are down and at the $67 a barrel level.
-Gasoline prices are holding at $3.09 a gallon, national average.
-Saudi state oil producer Aramco suffered a decline in net profit to $106.2 billion in 2024 from more than $121 billion in 2023. As a result, the company is slashing its annual dividend by 31 percent.
RETAIL WOES
-Target (TGT) reported better than expected quarterly profits and revenues, but warned that its February sales were weaker than hoped. Its shares are down 2 percent in the premarket.
-Best Buy (BBY) reported better than expected quarterly profits and revenues, but it's also warning that it expects inflation to hit its sales figures in the current quarter and the entire year. Best Buy shares are down 3 percent in the premarket.
MOVING AMERICA
-In response to new tariffs, Honda (HMC) is moving production of its Civic hybrid model from Mexico to Indiana. Honda shares are down slightly in the premarket.
DRUGSTORE CHANGE
-Walgreens (WBA) is reportedly close to a $10 billion deal to take itself private. Its shares are up 5 percent in the premarket.
down 140 650 yesterday
retail woese target and best buy (2 & 3)
tariffs at play honda
Oil prices are down aramco dividend down 31%
also watching the 10-year yield 4,14%
WBA going private
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