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AI Likely to Become Functional Part Across Retail Operations, UBS Says
US Markets

AI Likely to Become Functional Part Across Retail Operations, UBS Says

Artificial intelligence will likely become a functional part across retail operations, with implications ranging from demand generation to cost structures, UBS Securities said in a note emailed Friday.The US hardline and food retail sector has mostly used AI in areas such as marketing, customer service chatbots and basic inventory optimization, the brokerage said.However, the technology is now being adopted more broadly across different functions, UBS analysts, including Michael Lasser, said."As consumers increasingly rely on large language models and agentic systems to discover, evaluate, and purchase goods, traditional traffic channels -- stores and websites -- may become less central," Lasser said. "This raises important questions around traffic monetization, particularly for high-margin businesses such as retail media."UBS expects higher-income consumers to influence demand dynamics, as the top 10% of households dictate about half of all spending.AI may exacerbate income inequality, benefiting premium categories and adding pressure on value-oriented segments, according to the UBS note. This means retailers may have to alter strategies to reflect "a more bifurcated consumer landscape."Retailers that use AI-driven marketing are likely to see improved customer acquisition efficiency, Lasser said.On the cost management front, he said working capital needs could drop due to the automation of repetitive processes and improved inventory management systems.While AI helps improve accuracy in stores and distribution centers, it introduces new costs, including cloud computing, data governance and cybersecurity, Lasser said.Retailers with integrated ecosystems are likely best positioned to benefit from mounting AI adoption, according to UBS. They include Walmart (WMT), Costco Wholesale (COST), Target (TGT), Home Depot (HD), Lowe's (LOW) and Kroger (KR).Also on that list are AutoZone (AZO), O'Reilly Automotive (ORLY), Wayfair (W) and Williams-Sonoma (WSM).Price: $120.42, Change: $-0.08, Percent Change: -0.07%

$AZO$COST$HD$KR$LOW$ORLY$TGT$W$WMT$WSM
Wire

Gordon Haskett Adjusts Price Target on Home Depot to $330 From $320

Home Depot (HD) has an average rating of overweight and mean price target of $371.68, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $328.96, Change: $+2.95, Percent Change: +0.90%

$HD
Wire

Home Depot Faces Risk of Missing 2026 Guidance on Cost, Demand Outlook Headwinds, RBC Says

Home Depot (HD) is facing headwinds of stalled housing turnover and a weak cost and demand outlook, which creates a risk in attaining its reaffirmed 2026 guidance, RBC Capital Markets said in a Tuesday note.On the positive side, the company's Q1 total comparable sales grew 0.6% from a year ago, driven by higher average transaction values, partially offset by a decline in transactions. Home Depot is also poised to see an easier comparison in H2, assuming normal storm patterns, as the second half of last year had a historically light hurricane season, according to the note.However, RBC analysts believe there is a risk to meeting its reaffirmed 2026 guidance, given the deteriorating consumer backdrop and higher cost outlook. The company's gross margin decline of 80 basis points was driven by its acquisition of GMS rather than a significant deterioration in core gross margin, the analysts noted.RBC maintained the company's stock rating at sector-perform and reduced the price target to $340 from $377.Price: $307.57, Change: $+5.13, Percent Change: +1.70%

$HD
Research

Research Alert: CFRA Reiterates Hold View On Shares Of The Home Depot, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month price target of $329, down from $362, is based on 22x our FY 2027 EPS estimate of $14.86, a valuation that aligns with the company's ten-year average. This multiple appropriately balances the significant long-term strategic value of its Pro ecosystem and non-discretionary acquisitions against persistent macroeconomic headwinds that are pressuring its core consumer business. Our FY 27 EPS of $14.86 is down from $15.09 and FY 28's $15.78 is down from $16.33. HD's expansion into essential categories provides a powerful hedge against a pullback in discretionary projects, a key source of resilience in the current environment. However, we believe the current share price already reflects market share gains and formidable free cash flow generation, which we forecast will exceed $30B over the next two years. Ultimately, while HD is executing well and is strategically positioned for long-term success, we see limited upside until there is a clearer catalyst for a recovery in big-ticket consumer spending

$HD
Wire

UBS Adjusts Price Target on Home Depot to $430 From $450, Maintains Buy Rating

Home Depot (HD) has an average rating of overweight and mean price target of $376.06, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $299.69, Change: $-2.75, Percent Change: -0.91%

$HD
Nasdaq, S&P 500 Fall For Third Day as Yields Jump
US Markets

Nasdaq, S&P 500 Fall For Third Day as Yields Jump

The Nasdaq Composite and the S&P 500 fell for a third consecutive session on Tuesday and Treasury yields jumped, while traders assessed US President Donald Trump's latest remarks on the conflict with Iran.The Nasdaq declined 0.8% to close at 25,870.7, while the S&P 500 lost 0.7% to 7,353.7. The Dow Jones Industrial Average dropped 0.7% to 49,363.9. Six of the 11 sectors ended in the red, led by materials' 2.3% decline, while healthcare paced the gainers."Investors are still navigating a market shaped by geopolitics, oil prices, and rising bond yields," Saxo Bank said in a report.US Treasury yields were higher in Tuesday late-afternoon trade, with the 10-year rate up 4.2 basis points at 4.67% and the two-year rate rising 2.6 basis points to 4.12%.Global bond yields have climbed, which could be attributed to the rise in long-term inflation expectations, particularly in the US, Macquarie said in a report."That's making nominal coupon-paying assets less attractive, and putting upward pressure on long-term yields," Thierry Wizman, global foreign exchange and rates strategist at Macquarie, said. "Aggravating this move in the US is that the (Federal Reserve) has been late to signal that it has moved toward a neutral policy bias, let alone a tightening bias."West Texas Intermediate crude was last down 0.8% at $107.77 per barrel, while Brent fell 0.9% to $111.09.Trump told reporters Tuesday that the US may need to strike Iran again, Reuters reported.That followed his statement on Monday that the US had postponed a planned military strike on Iran amid ongoing negotiations.The delay would last for "a limited period of time," CNN reported, citing Trump."Oil prices are gyrating between yesterday's increase after tough talk from Trump over the weekend and today's slight pullback after Trump said he held off on launching additional attacks on Iran following appeals from Gulf states," Scotiabank said in a note earlier in the day.Washington and Tehran have had a series of talks, but are yet to finalize a framework on a peace deal."The net effect is that oil prices have been higher since Friday and this reflects the general perception that there is no traction in negotiations," Scotiabank said. "Nor should any progress be expected in what is likely to be a stalemate."In company news, Home Depot (HD) reported fiscal first-quarter results above market expectations despite consumer uncertainty, while the home improvement retailer reiterated its full-year outlook. The company's shares rose 0.9%.Nvidia (NVDA) shares ended a choppy session 0.8% lower. The chipmaking giant is scheduled to report results after the closing bell Wednesday.Nvidia's fiscal first-quarter sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note e-mailed Tuesday.Gold was down 1.2% at $4,504.40 per troy ounce, while silver lost 3.6% to $74.65 per ounce.

Dow JonesNasdaq CompositeS&P 500$HD$NVDA
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Tuesday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 1.1%.In sector news, Redbook US same-store sales last week rose 8.1% from a year earlier after a 9.6% increase in the previous week. "Coming off last-minute Mother's Day shopping on Sunday, sales and traffic slowed across the board in the middle of the week, but picked up during the weekend as graduation, BBQ season, and warm weather approached," Redbook said.In corporate news, Estee Lauder (EL) remains in talks with Puig over a potential business combination, though there's no announcement to make yet, Reuters reported, citing Estee Lauder CEO Stephane de La Faverie. Estee Lauder shares fell 5.4%.Home Depot (HD) reported fiscal Q1 results above market expectations despite consumer uncertainty, while the home improvement retailer reiterated its full-year outlook.The shares rose 0.7%.Wall Street banks started a debt sale on behalf of Warner Bros. Discovery (WBD) comprised of a $5 billion dollar loan and a 1 billion euro ($1.16 billion) loan, Bloomberg reported. Warner Bros. shares were little changed.Amer Sports (AS) raised its full-year guidance after the Finnish sports equipment company reported better-than-expected Q1 results. Amer shares climbed 1.8%.

$AS$EL$HD$WBD
Equity Markets Fall Intraday as Traders Monitor Middle East Developments
US Markets

Equity Markets Fall Intraday as Traders Monitor Middle East Developments

US benchmark equity indexes were lower and Treasury yields jumped after midday Tuesday as traders continued to monitor developments in the Middle East.The Nasdaq Composite was down 0.4% at 25,989.8 intraday, while the S&P 500 fell 0.2% to 7,385. The Dow Jones Industrial Average dropped 0.2% to 49,578.5. Among sectors, materials saw the biggest drop, while healthcare paced the gainers.US Treasury yields were higher intraday, with the 10-year rate up 8.2 basis points at 4.67% and the two-year rate rising 7.8 basis points to 4.14%.In a social media post on Monday, President Donald Trump said the US postponed a planned military strike on Iran amid "serious" ongoing negotiations. Trump, however, cautioned that the US will proceed with a large-scale attack if a deal is not reached.Trump told reporters Tuesday that the US may need to strike Iran again, Reuters reported.West Texas Intermediate crude was down 0.1% at $108.61 per barrel intraday Tuesday, while Brent fell 1.1% to $110.86."Oil prices are gyrating between yesterday's increase after tough talk from Trump over the weekend and today's slight pullback after Trump said he held off on launching additional attacks on Iran following appeals from Gulf states," Scotiabank said in a note.Washington and Tehran have had a series of talks, but are yet to finalize a framework on a peace deal."The net effect is that oil prices have been higher since Friday and this reflects the general perception that there is no traction in negotiations," Scotiabank said. "Nor should any progress be expected in what is likely to be a stalemate."In company news, Home Depot (HD) reported fiscal first-quarter results above market expectations despite consumer uncertainty, while the home improvement retailer reiterated its full-year outlook. The company's shares were up 0.4% intraday.Nvidia (NVDA) shares were up 0.7% intraday, recovering from a slide earlier in the session.The chipmaking giant's fiscal first-quarter sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note e-mailed Tuesday. Nvidia is scheduled to report results after the closing bell Wednesday.Gold was down 1.2% at $4,504.40 per troy ounce, while silver lost 3.6% to $74.65 per ounce.

Dow JonesNasdaq CompositeS&P 500$HD$NVDA
Sectors

Sector Update: Consumer Stocks Mixed Tuesday Afternoon

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 1%.In sector news, Redbook US same-store sales rose by 8.1% from a year earlier in the week ended May 16 after a 9.6% year-over-year increase in the previous week. "Coming off last-minute Mother's Day shopping on Sunday, sales and traffic slowed across the board in the middle of the week, but picked up during the weekend as graduation, BBQ season, and warm weather approached," Redbook said.In corporate news, Home Depot (HD) on Tuesday reported fiscal Q1 results above market expectations despite consumer uncertainty, while the home improvement retailer reiterated its full-year outlook. Its shares rose 0.5%.Amer Sports (AS) raised its full-year guidance on Tuesday after the Finnish sports equipment company reported better-than-expected Q1 results. Amer shares jumped past 4%.Wall Street banks started a loan sale Tuesday on behalf of Warner Bros. Discovery (WBD) comprised of a $5 billion US dollar loan and a 1 billion euro loan, Bloomberg reported. Warner Bros. shares added 0.5%.

$AS$HD$WBD
Sectors

Sector Update: Consumer

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.2%.In corporate news, Home Depot (HD) on Tuesday reported fiscal Q1 results above market expectations despite consumer uncertainty, while the home improvement retailer reiterated its full-year outlook. Its shares rose 0.5%.

$HD
Wire

Gordon Haskett Adjusts Home Depot Price Target to $320 From $330, Maintains Hold Rating

Home Depot (HD) has an average rating of overweight and mean price target of $398.94, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $302.42, Change: $+2.61, Percent Change: +0.87%

$HD
Wire

Wells Fargo Adjusts Home Depot Price Target to $360 From $375, Maintains Overweight Rating

Home Depot (HD) has an average rating of overweight and mean price target of $398.94, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $301.07, Change: $+1.26, Percent Change: +0.42%

$HD
Wire

Top Midday Stories: Home Depot Earnings Top Estimates; Blackstone, Google Form AI Data Center Joint Venture

All three major US stock indexes were down in late-morning trading Tuesday, as the 30-year Treasury yield hit its highest level in almost 19 years.The North Atlantic Treaty Organization is considering helping ships pass through the Strait of Hormuz if it doesn't get unblocked by early July, Bloomberg reported Tuesday, citing a senior official in the military alliance. Several NATO members support the idea, but it doesn't have the necessary unanimous support yet, the report said, citing a diplomat from a NATO country.In company news, Home Depot (HD) reported fiscal Q1 adjusted earnings Tuesday of $3.43 per diluted share, down from $3.56 a year earlier but above the FactSet consensus analyst estimate of $3.41. Fiscal Q1 net sales were $41.77 billion, up from $39.86 billion a year ago and above the FactSet consensus of $41.59 billion. For fiscal 2026, the company said it expects adjusted EPS growth of about flat to 4% from $14.69 in fiscal 2025. Analysts polled by FactSet expect $15.01. The company also said it expects full-year sales growth of 2.5% to 4.5%. Home Depot shares were up 0.5% around midday.Blackstone (BX) said late Monday it's forming a US-based joint venture with Alphabet's (GOOG, GOOGL) Google to provide AI-focused data center capacity and cloud computing services powered by Google's Tensor processing units. Blackstone will invest $5 billion in equity initially for the JV, which plans to bring its first 500 megawatts of capacity online in 2027 and expand further over time, the private equity giant said. Google will provide TPU hardware, software and related services, Blackstone said. Blackstone shares were down 1.5%, while Alphabet's Class C and Class A shares were down 2.3% and 2.5%, respectively.Meta Platforms (META) is moving 7,000 workers into new AI-focused roles as part of a broader restructuring that also includes planned job cuts later this week, Bloomberg reported late Monday, citing an internal memo. The layoffs, which are expected to impact 10% of Meta employees, are expected to get underway on Wednesday, Reuters reported late Monday, citing an internal memo. Meta shares were down 1.1%.Blue Owl (OWL) Co-Founder Doug Ostrover is selling his stake in the NFL's Washington Commanders back to the Josh Harris-led ownership group, Bloomberg reported Tuesday, citing people with knowledge of the matter. Blue Owl shares were down 1.1%.Price: $301.28, Change: $+1.47, Percent Change: +0.49%

$BX$GOOG$GOOGL$HD$META$OWL
Sectors

Sector Update: Consumer Stocks Lean Lower Premarket Tuesday

Consumer stocks were leaning lower premarket Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining by 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.7%.Amer Sports (AS) shares were up more than 4% after the company posted higher Q1 adjusted earnings and revenue, and raised its 2026 outlook.MakeMyTrip (MMYT) stock was down more than 4% after the company reported a decline in fiscal Q4 adjusted earnings.Home Depot (HD) shares were down more than 1% after the company reported lower fiscal Q1 adjusted earnings.

$AS$HD$MMYT$XLP$XLY
Asia Markets

Tech Stock Sell-Off, Continued Middle East Standoff Drag US Equity Futures Pre-Bell

US equity futures were edging lower pre-bell Tuesday as technology stocks suffered losses and the Middle East impasse continued with no end in sight.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.5%, and Nasdaq futures were 0.9% lower.Sell-offs in technology stocks weighed on the broader market. Nvidia (NVDA), slated to report after-bell Wednesday, saw its stock drop 0.8%.President Donald Trump said in a post on Truth Social that he called off a scheduled attack on Iran for Wednesday due to requests from Qatari Emir Tamim bin Hamad Al Thani, Saudi Crown Prince Mohammed bin Salman, and UAE President Mohammed bin Zayed Al Nahyan. The leaders said that "serious negotiations" are underway and a potential deal could be made, according to Trump.Traders noted the latest round of earnings, with Home Depot (HD) posting lower fiscal Q1 adjusted earnings amid higher revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.6% at $110.27 per barrel and US West Texas Intermediate crude 1% lower at $103.32 per barrel.Pending home sales for April, scheduled for release at 10 am ET, are expected to be up 1% after a gain of 1.5% in the prior month, according to estimates compiled by Bloomberg.Federal Reserve Philadelphia President Anna Paulson, acting Atlanta President Cheryl Venable and Governor Christopher Waller speak on Tuesday.In other world markets, Japan's Nikkei closed 0.4% lower, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 0.9% higher. Meanwhile, the UK's FTSE 100 was up 0.6%, and Germany's DAX index was 1.3% higher in Europe's early afternoon session.In equities, joining Nvidia in the technology stock sell-off were chip firms Taiwan Semiconductor (TSM), Broadcom (AVGO), and Micron Technology (MU). Taiwan Semiconductor stock was down 1.5%, Broadcom shares fell 1.4%, and Micron Technology stock was down 1.9%,On the winning side, Sony (SONY) shares were up 2% after the company said in a post on X that it will raise PlayStation Plus subscription prices for new customers in select regions starting Wednesday, citing market conditions. Equinor (EQNR) stock was up 2.3% after the company said it will supply Eneco with natural gas from Norway's continental shelf for a five-year period. Workday (WDAY) shares were up 2.6% following a Reuters report citing the company's India President Sunil Jose as saying Workday intends to sustain its rapid hiring rate in India while increasing artificial intelligence investments and opening additional offices.

Dow JonesNasdaq CompositeS&P 500$AVGO$EQNR$HD$MU$NVDA$SONY$TSM$WDAY
Home Depot Fiscal First-Quarter Results Top Views; Maintains Full-Year Outlook
US Markets

Home Depot Fiscal First-Quarter Results Top Views; Maintains Full-Year Outlook

Home Depot (HD) on Tuesday reported fiscal first-quarter results above market expectations despite consumer uncertainty, while the home improvement retailer reiterated its full-year outlook.The company's adjusted earnings came in at $3.43 per share for the three months through May 3, down from $3.56 the year before, but ahead of the FactSet-polled consensus of $3.41. Sales improved 4.8% to $41.77 billion, ahead of the Street's view for $41.59 billion."Our first-quarter results were in line with our expectations," Chief Executive Ted Decker said in a statement. "The underlying demand in our business was relatively similar to what we saw throughout fiscal 2025, despite greater consumer uncertainty and housing affordability pressure."For fiscal 2026, the retailer continues to anticipate adjusted EPS to be flat to up 4% versus last year's result of $14.69. The Street is looking for non-GAAP EPS of $15.01.Sales are still pegged to grow by about 2.5% to 4.5% for the ongoing fiscal year. The company reaffirmed its comparable sales forecast range of flat to up 2%. The Street is looking for sales of $171.16 billion and same-store sales growth of 1.4% for the fiscal year.Oppenheimer said Monday it expected Home Depot to lower its full-year guidance amid weak consumer sentiment.For the first quarter, the retailer's comparable sales edged up 0.6% but fell short of analyst estimates for a 0.8% gain. The metric nudged 0.4% higher in the US. The number of transactions decreased 0.9% to 391.1 million, while the average ticket prices rose 2.3% to $92.76.In an emailed client note on Tuesday, Truist Securities said Home Depot incurred "notable weather headwinds" in the quarter, but the brokerage's data suggested that sales improved throughout the period following a "tough early start."Truist believes Home Depot's sales trends remain stable even though it has yet to see a "sharp positive inflection" in revenue amid high interest rates and broader macroeconomic uncertainties. "We continue to think the risk/reward is skewed significantly more to the upside," the brokerage added.

$HD
Japan

Tech Stock Sell-Off, Continued Middle East Standoff Weigh on US Equity Futures Pre-Bell

US equity futures were edging lower pre-bell Tuesday as technology stocks suffered losses and the Middle East impasse continued with no end in sight.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.6% lower.Sell-offs in technology stocks weighed on the broader market. Nvidia (NVDA), slated to report after-bell Wednesday, saw its stock drop 0.9%.President Donald Trump said in a post on Truth Social that he called off a scheduled attack on Iran for Wednesday due to requests from Qatari Emir Tamim bin Hamad Al Thani, Saudi Crown Prince Mohammed bin Salman, and UAE President Mohammed bin Zayed Al Nahyan. The leaders said that "serious negotiations" are underway and a potential deal could be made, according to Trump.Traders noted the latest round of earnings, with Home Depot (HD) posting lower fiscal Q1 adjusted earnings amid higher revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.1% at $110.83 per barrel and US West Texas Intermediate crude 0.6% lower at $103.76 per barrel.Pending home sales for April, scheduled for release at 10 am ET, are expected to be up 1% after a gain of 1.5% in the prior month, according to estimates compiled by Bloomberg.Federal Reserve Philadelphia President Anna Paulson, acting Atlanta President Cheryl Venable and Governor Christopher Waller speak on Tuesday.

Dow JonesNasdaq CompositeS&P 500$HD$NVDA
Stocks Down Pre-Bell as Investors Assess Trump's Latest Iran Remarks
US Markets

Stocks Down Pre-Bell as Investors Assess Trump's Latest Iran Remarks

US equity futures were trending lower on Tuesday as traders weigh President Donald Trump's statements on Iran amid ongoing uncertainty in the Middle East.The S&P 500 declined 0.4%, the Dow Jones Industrial Average edged down 0.2% and the Nasdaq fell 0.7% in premarket activity. The indexes finished the previous trading session mixed.In a social media post on Monday, Trump said the US decided to postpone a planned military strike on Iran after leaders of Saudi Arabia, Qatar and the United Arab Emirates urged restraint amid "serious" ongoing negotiations to end the conflict.Trump, however, cautioned that the US will "go forward with a full, large scale assault of Iran" if a deal is not reached."I put it off for a little while, hopefully maybe forever, but possibly for a little while, because we've had very big discussions with Iran, and we'll see what they amount to," Trump reportedly said at a White House event on Monday, according to Bloomberg News.West Texas Intermediate crude oil decreased 1.1% to $107.45 a barrel before the opening bell, while Brent dropped 1.7% to $110.22.Trump's latest rhetoric follows reports that Iran had provided an updated proposal for a deal to end the war. The White House indicated it doesn't reflect a meaningful improvement from a previous offer, Axios reported Monday, citing a senior US official and a source briefed on the matter."Progress on US-Iran peace talks continues to be immaterial, with both parties expressing a willingness to resume overt hostilities if the talks fail," Tudor Pickering Holt Analyst Matt Portillo said in a Monday note.Treasury yields were tracking lower in premarket action, with the two-year rate retreating 2 basis points to 4.07% and the 10-year rate off 1.8 basis points to 4.61%.European Union officials are expected to convene on Tuesday to finalize legislation for the bloc's trade deal with the US, Bloomberg reported. Trump previously threatened to hike tariffs on the EU if it didn't implement its trade deal commitments by July 4.Tuesday's economic calendar has the housing starts and permits report for April at 8:30 am ET, followed by the pending home sales index for the same month at 10 am.Federal Reserve Governor Christopher Waller is scheduled to speak at 8 am, while Philadelphia Fed President Anna Paulson speaks at 7 pm. Atlanta interim President Cheryl Venable is slated to speak at 7:45 pm.Home Depot (HD) shares increased nearly 1% after the home-improvement retailer reported fiscal first-quarter adjusted earnings above market estimates and reiterated its full-year outlook. Keysight Technologies (KEYS) posts its earnings after the markets close.Gold nudged 0.3% down to $4,543 per troy ounce, while bitcoin inched 0.1% higher to $76,794.

Dow JonesNasdaq CompositeS&P 500$HD$KEYS
Equity Markets Mixed as Trump Aborts Plan to Attack Iran
US Markets

Equity Markets Mixed as Trump Aborts Plan to Attack Iran

US equity markets closed mixed Monday as President Donald Trump said the US was postponing a plan to attack Iran on Tuesday.The Nasdaq Composite declined 0.5% to 26,090.7, while the Dow Jones Industrial Average rose 0.3% to 49,686.1. The S&P 500 closed 0.1% lower at 7,403.1. Most sectors were in the green, led by energy, while technology saw the steepest decline.Trump said the US will hold off on its planned military attack against Iran that was previously scheduled for Tuesday, according to his social media post on Monday.Trump said Middle Eastern leaders, including Saudi Arabia Crown Prince Mohammed bin Salman, asked the US president to call off the attack amid "serious" ongoing negotiations to end the Washington-Tehran conflict.Trump, however, cautioned that the US will "go forward with a full, large scale assault of Iran" if a deal is not reached.Brent crude fell 0.4% to $108.85 per barrel in Monday late-afternoon trade, while West Texas Intermediate crude was last up 0.9% at $106.34 per barrel.Trump's latest rhetoric follows reports that Iran had provided an updated proposal for a deal to end the war. The White House indicated it doesn't reflect a meaningful improvement from a previous offer, Axios reported Monday, citing a senior US official and a source briefed on the matter.The Strait of Hormuz -- the world's most important chokepoint for crude flows -- remains largely shut as tensions between the US and Iran continue, with no end in sight."Progress on US-Iran peace talks continues to be immaterial, with both parties expressing a willingness to resume overt hostilities if the talks fail," Tudor Pickering Holt Analyst Matt Portillo said in a note sent earlier in the day.US Treasury yields were little changed in Monday late-afternoon trade, with the 10-year rate at 4.59% and the two-year rate at 4.07%.Nvidia (NVDA) shares fell 1.3%, the second-worst performer on the Dow. The chipmaking giant is expected to exceed Wall Street's first-quarter estimates and guide above consensus amid positive data points, Wedbush Securities said.Nvidia is scheduled to release its latest quarterly results after the markets close Wednesday.Retail giants Walmart (WMT), Home Depot (HD), TJX (TJX), Lowe's (LOW) and Target (TGT) are also expected to report this week. Home Depot and Lowe's are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a note.NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in all-stock deal to create the largest regulated electric utility in the world. Dominion shares jumped 9.4%, the second-biggest gainer on the S&P 500, while NextEra fell 4.6%.In economic news, US homebuilder confidence unexpectedly rose this month despite elevated mortgage rates, macro uncertainty and continued affordability challenges, data from the National Association of Home Builders and Wells Fargo showed."Soft homebuilder sentiment is consistent with our view that housing starts will mostly move sideways for the next couple of quarters before starting to edge up slightly around year-end, when we expect mortgage rates to be lower as the (Federal Reserve) implements the first of two rate cuts we expect," Oxford Economics said in a note.Gold was up up 0.1% at $4,564.40 per troy ounce in Monday late-afternoon trade, while silver rose 0.3% to $77.80 per ounce.

Dow JonesNasdaq CompositeS&P 500$D$HD$LOW$NEE$NVDA$TGT$TJX$WMT
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.5%.In corporate news, Imax (IMAX) seems on track to hit $1.4 billion in global box office collections this year despite a series of headwinds, including certain film delays, B. Riley Securities said in a note. Imax shares were up almost 2%.Ryanair (RYAAY) said it has contingency plans for an "armageddon" jet fuel scenario and warned weaker European carriers may not survive if high fuel prices persist, CNBC reported Monday. Its shares rose 5%.Lululemon Athletica (LULU) sent a letter to shareholders on Monday saying that activist and founder Chip Wilson has "outdated perspectives" and "troubling conflicts of interest," which will derail the company's turnaround plan, CNBC reported. Lululemon shares increased 0.9%.Home Depot (HD) and Lowe's (LOW) are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a report. Home Depot shares were up 0.8%, and Lowe's was little changed.

$HD$IMAX$LOW$LULU$RYAAY

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