Tencent (TCEHY) is expected to release its fourth-quarter earnings on March 21. Analysts polled by Thomson Reuters expect the company’s revenues to rise 2.1% sequentially to 82.2 billion renminbi. However, the company’s EPS is expected to fall to 1.72 renminbi in the fourth quarter from 2.44 renminbi in the third quarter.
Tencent was hit by China’s ban on new video games last year. In the US market, gaming stocks like Take-Two Interactive Software (TTWO) and Activision Blizzard (ATVI) have fallen this year amid growth concerns. However, Apex Legends’ success has lifted Electronic Arts (EA).
Church & Dwight (CHD) and Clorox (CLX) have underperformed peers so far this year.
JCPenney (JCP) is slated to announce its results for the first quarter of fiscal 2019, which ended on May 4, on May 21.
The key point of contention in the US-China trade dispute is the large trade deficit the United States runs against China.
On May 16, the Labor Department reported jobless claims for last week. Initial jobless claims fell by 16,000 to 212,000 for the week ended May 11.
Jeffrey Gundlach recommended investors take advantage of the volatility in interest rates at the recent Sohn Conference.
Tesla (TSLA) has fallen 4.2% as of 11:55 AM EDT on May 17. While US equity markets opened in the red today, they've recouped their losses.
According to Reuters, on May 16, Vale (VALE) told prosecutors that a dam was at risk of rupturing at its Gongo Soco mine.