Here are five things you must know for Thursday, June 28:
1. -- Stocks Mixed Amid Worries Rally Has Run Its Course
U.S. stock futures rose on Thursday, June 28, and
ower, with shares in Asia falling to the lowest level in nine months, as investors continued to count the cost of trade tariffs and protectionism among the world's biggest economies.
Sentiment was soured by signals that growth was starting to slow because of the tit-for-tat trade wars that have escalated since early March, and a statement from Donald Trump's top economic adviser that Trump was "not retreating" in his approach to trade with China.
With the U.S. Treasury yield curve showing persistent signs of a slowdown, copper prices falling to a three-month low and oil prices rising to the highest in nearly four years, it appeared investors have grown increasingly concerned that the global equity market rally may have run its course.
2. -- Walgreens, Nike and GDP Highlight Thursday's Calendar
The U.S. economic calendar on Thursday includes the third estimate for first-quarter GDP at 8:30 a.m. ET. Economists expect GDP at a 2.2% annualized rate, unchanged from the second estimate. Also on the calendar are weekly Jobless Claims at 8:30 a.m.
Walgreens Boots Alliance Inc. (WBA) - Get Report posted fiscal third-quarter earnings of $1.53 a share, well ahead of Wall Street forecasts of $1.48. Sales rose 14% to $34.3 billion, with the bulk of coming from the company's American retail pharmacy division.
The company, which joined the Dow Jones Industrial Average this week, also unveiled a $10 billion share buyback. The stock fell 0.7% in premarket trading.
3. -- Amazon Wants You to Deliver Its Packages
In a statement, Amazon said it would take an "active role" in helping entrepreneurs start, set up and manage their own delivery business. According to Amazon, successful owners can earn as much as $300,000 in annual profit operating a fleet of up to 40 delivery vehicles.
Owners will be able be able to lease blue vans with the Amazon logo stamped on it, buy Amazon uniforms for drivers and get support from Amazon to grow their business. In return, Amazon gets more ways to ship its packages to shoppers without having to rely on United Parcel Service Inc., FedEx Corp. and other package delivery services.
4. -- Walmart Unveils Virtual Shopping Tour
Walmart Inc. (WMT) - Get Report said it has begun testing a "a new experience" that allows customers to take a virtual shopping tour of a curated apartment showcasing nearly 70 items from both national brands and the retailer's private label offerings.
As customers virtually explore the apartment, they can click on different products in each room to get more information, Walmart said.
Starting in July, Walmart said it would allow customers to add a group of items to their carts that will provide a complete look for their apartments and homes.
5. -- Chipotle Will Close Up to 65 Stores
Chipotle Mexican Grill Inc. (CMG) - Get Report fell 2.6% in after-hours trading on Wednesday, June 27, after the burrito chain said it would close up to 65 stores and incur restructuring costs of $115 million to $135 million.
The company also laid out plans for easier-to-understand digital ordering and faster moving lines at restaurants, including clearly marked pick-up shelves.
Chipotle's CEO Brian Niccoll told TheStreet's Executive Editor Brian Sozzi that moving faster on digital was key to unlocking the company's growth potential.
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