Amazon HQ2: who really wins?

With New York and Virginia declared the winners of Amazon's headquarters search, CNN's Jon Sarlin looks at how good it really is to be the "winner."

Posted: Nov 16, 2018 12:39 AM
Updated: Nov 16, 2018 1:12 AM

1. Tech rout: Tech stocks were hit hard Tuesday amid concerns about slowing demand for Apple iPhones.

Apple suppliers in Asia found themselves under pressure. Japan Display was down 9.5%, Hon Hai Precision Industry (HNHPD), known as Foxconn, dropped 3% and Taiwan Semiconductors (TSM) lost 2.5%

The slump was triggered by a 5% slide in Apple (AAPL) shares on Monday after supplier Lumentum (LITE) cut its earnings and sales forecast because of weak demand. JPMorgan also cut its target price on Apple's stock.

That caused widespread pain. Amazon (AMZN) shed 4.5% on Monday and Tesla (TSLA) fell more than 5%. Facebook (FB), Google (GOOGL), Netflix (NFLX) and Microsoft (MSFT) dropped over 2%.

The Dow closed the session down 2.3%. The S&P 500 shed 2% and the Nasdaq slumped 2.8%

2. Amazon decides: Amazon has chosen New York City and Northern Virginia to split duty as its second headquarters, according to the Wall Street Journal. The official announcement could come as early as Tuesday.

The development projects will bring the cities a huge infusion of jobs and tax revenue, but are almost certain to draw fire from critics concerned about their impact on infrastructure and property values.

3. Global market overview: US stock futures were pointing higher.

European markets opened in positive territory, while stocks in Asia were mixed.

US crude futures dropped 2% to trade at $58.70 per barrel. Crude is on track for 12 consecutive days of losses, the longest slide since oil futures trading was introduced on the NYMEX in March 1983. The historic slump knocked oil into a bear market — barely a month after it hit four-year highs.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

4. Earnings and economics: Aramark (ARMK), Home Depot (HD) and Tyson Foods (TSN) will release earnings before the opening bell. SurveyMonkey (SVMK) and Tilray (TLRY) will follow after the close.

Shares in Vodafone (VOD) jumped almost 6% after the UK telecoms firm said it would slash costs and create a virtual company to manage its towers. Vodafone also froze its dividend.

Markets Now newsletter: Get a global markets snapshot every afternoon. Sign up now!

5. Coming this week:

Tuesday — Aramark (ARMK), Home Depot (HD) and Tyson Foods (TSN) earnings
Wednesday — Blue Apron (APRN), Progressive (PGR), Cisco Systems (CSCO), Gap (GPS), and Macy's (M) earnings; Inflation numbers for October
Thursday — Nvidia (NVDA), Nordstrom (JWN), Walmart (WMT), and Manchester United (MANU) earnings; October retail sales
Friday — Williams-Sonoma (WSM) earnings

New York Coronavirus Cases

County data is updated nightly.

Cases: 2012806

Reported Deaths: 51732
CountyCasesDeaths
Kings26711410025
Queens2656739604
Suffolk1945123323
Nassau1782353121
Bronx1760716405
New York1330424342
Westchester1262782246
Erie835241718
Richmond713901760
Monroe617161036
Orange46388782
Rockland45849946
Onondaga36254663
Dutchess28147438
Albany23800347
Oneida21556498
Niagara18486335
Broome17559348
Saratoga14517163
Ulster13159244
Schenectady12471193
Rensselaer10745136
Putnam1027491
Chautauqua8459137
Chemung7209133
Oswego703490
Ontario693992
Steuben6355142
St. Lawrence624695
Sullivan621070
Cayuga591590
Jefferson548765
Wayne530467
Cattaraugus521382
Genesee5102121
Herkimer4946107
Clinton458233
Madison432186
Fulton412288
Tompkins407749
Livingston403858
Montgomery3923117
Columbia3848100
Cortland356960
Tioga345058
Warren341856
Wyoming328251
Otsego322147
Allegany320483
Greene315674
Chenango313874
Washington287955
Orleans280183
Lewis248134
Franklin241312
Delaware219537
Seneca188956
Schoharie156816
Essex150826
Yates111226
Schuyler99314
Hamilton3012
Unassigned13864
Out of NY0218
Rome
Cloudy
36° wxIcon
Hi: 39° Lo: 25°
Feels Like: 23°
Binghamton
Cloudy
32° wxIcon
Hi: 38° Lo: 25°
Feels Like: 20°
Rome
Cloudy
39° wxIcon
Hi: 41° Lo: 27°
Feels Like: 29°
Rome
Cloudy
39° wxIcon
Hi: 34° Lo: 22°
Feels Like: 29°
WKTV Radar
WKTV Temperatures
WKTV Severe Weather
Saluting Those Who Are Proud 2 Serve
Enter the Rock Your Body Giveaway from Alivana Aesthetics
Looking for work or looking to hire? Check out the WKTV Job Fair!