— This is the script of CNBC's news report for China's CCTV on January 8, Wednesday.
Welcome to the CNBC Business Daily.
The extreme winter weather having an impact on some market sectors. CNBC's Sheila Dharmarajan reports:
The big chill is impacting a lot of market sectors, especially in commodities. Natural gas prices soared, hitting a new record today. Winter wheat higher on concerns about crop freeze. Orange juice originally saw a spike, but now down again on news that the orange crop appeared to have escaped the big freeze.
And finally, cattle futures also getting a bump. It takes more feed to keep the cattle warm, temperatures also making transportation harder, which is one reason behind the gains. The retail sector is also being closely watched, as to the impact of the cold weather. On the one hand, cold weather does mean that people tend to stay in more, which means less mall traffic.
Citigroup estimated Storm Hercules could have affected retail sales negatively, by as much as one percent in the fourth quarter. But on the other hand, if you're inside, it seems like a pretty good day to do some online shopping, and folks always need to dress warmly.
That's where companies like VF Corp. come in. The company owns North Face and Timberland brands, which is about a third of its sales and even more of its profits.
Or Under Armour, whose compression shirts are a popular choice among US consumers as an under layer to ward off the cold. And finally, Deckers, parent company of Ugg Boots. Gotta keep the feet warm when it's bitterly cold outside. Star AG said in a recent note that retailers are reporting sales growth of 20 percent in the month of December.
But whether it impacts the stocks or not, get ready to hear a lot of weather talk from US companies. In fact, Geometries and Wendy's were downgraded recently, one reason analysts cited - what else, the weather.
Li Sixuan, from CNBC's Singapore headquarters.
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