Wire
Guggenheim Cuts Lowe's Price Target to $275 From $300
Lowe's (LOW) has an average rating of overweight and mean price target of $256, according to analysts polled by FactSet.Price: $218.40, Change: $-1.60, Percent Change: -0.73%
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51 stories mentioning LOWUpdated 23d ago
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Recent broker actions mentioned in FINWIRES coverage. Compiled from wire headlines; not investment advice.
- GuggenheimTarget cutPrice target$275from $300
- BarclaysTarget cutPrice target$260from $285
- BofA SecuritiesTarget cutNeutralPrice target$257from $260
- Truist SecuritiesTarget revisedBuyPrice target$255from $280
- Wells FargoTarget revisedOverweightPrice target$255from $260
- TruistTarget cutBuyPrice target$280from $293
What's the latest news on LOW?
Wire
Lowe's Fiscal Q2 Results Highlight Progress on Long-Term Strategy, UBS Says
Lowe's (LOW) fiscal Q2 results were largely in line and provided further evidence that its long-term strategy is gaining traction, UBS said in a note on Wednesday.The analysts said the market was concerned that prolonged housing weakness and a cautious consumer were hurting home improvement demand, but Lowe's results suggested the opposite, with demand holding up better than expected.Despite weather disruptions, softer seasonal demand, weaker DIY activity, and more aggressive competition, the company delivered positive comparable sales and stable underlying demand, including continued growth with professional customers, the analysts said."More importantly, we believe the quarter provided further evidence that management's long-term strategy is working," the analysts added.The analysts lowered their earnings per share estimates to $12.25 for fiscal 2026, $12.85 for fiscal 2027, and $14.30 for fiscal 2028, from $12.55, $13.55, and $15.42, respectively.UBS lowered its price target on Lowe's to $275 from $285 and kept its buy rating.Price: $218.40, Change: $-1.60, Percent Change: -0.73%
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Wire
Lowe's Resets FY Outlook as Softer Q2 Trends Prompt Caution, RBC Says
Lowe's (LOW) posted softer fiscal Q2 comparable sales and moved its full-year guidance to the low end of its prior range, a reset largely anticipated by investors. RBC Capital Markets said Wednesday in a report.As the company navigates a tougher demand backdrop and rising cost pressures, the revised outlook "feels appropriately prudent" and may improve the stock's appeal given its valuation discount to rival Home Depot (HD), the report said.RBC cut Lowe's Q3 comparable-sales estimate to growth of 0.5% from growth of 1% and lowered its adjusted EPS estimate to $2.93 from $3.02.Lowe's "flattish" revenue outlook may seem conservative, though cost pressures are likely to increase, the report said.RBC expects 2026 comparable sales growth of 0.3%, down from 0.6% growth previously, and projects 2027 comparable-sales growth of 1%, down from its prior 1.8% estimate.RBC maintained its sector-perform rating on Lowe's stock and its $231 price target.Price: $217.95, Change: $-2.05, Percent Change: -0.93%
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Wire
Lowe's DIY Mix Weighs on Performance Versus Home Depot, Truist Says
Lowe's (LOW) underperformance versus Home Depot (HD) may be at least partly attributable to its heavier exposure to the softer DIY channel, though Truist remains bullish on the home improvement market and views the stock as well-positioned at current levels.The investment firm said in a Wednesday research note that Lowe's DIY sales account for about 70% of its business versus roughly 50% for Home Depot, and the channel's softer trends likely worked against Lowe's in Q2.Lowe's Q2 comparable sales rose 0.2%, slightly ahead of broad investor expectations for a negative print but below the company's prior expectation of about 1%. Adjusted EPS excluding the benefit from tariff refunds was $4.29, above Truist's $4.24 estimate.Truist noted that the comp marked Lowe's fifth straight quarter of positive comparable sales and improved from the first quarter on a two- and three-year stacked basis. While Lowe's moved its full-year outlook to the low end of its prior range, the brokerage said the change was relatively modest.The analysts noted that Lowe's shares were already underperforming Home Depot year to date, down about 11% versus roughly 2% for Home Depot, and said the modest change to the outlook leaves the stock in a good position at current levels.Truist maintained its buy rating and a $255 price target on the stock.Shares of Lowe's were up nearly 3% in Wednesday trading.Price: $221.69, Change: $+6.05, Percent Change: +2.80%
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Wire
Barclays Cuts Price Target on Lowe's to $260 From $285
Lowe's (LOW) has an average rating of overweight and mean price target of $262.70, according to analysts polled by FactSet.Price: $221.69, Change: $+6.05, Percent Change: +2.80%
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Wire
Truist Trims Price Target on Lowe's to $254 From $255, Keeps Buy Rating
Lowe's (LOW) has an average rating of overweight and mean price target of $262.70, according to analysts polled by FactSet.Price: $222.06, Change: $+6.42, Percent Change: +2.97%
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Sectors
Sector Update: Consumer Stocks Rise in Afternoon Trading
Consumer stocks were higher Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 1.7%.In corporate news, Target (TGT) lifted its full-year outlook on Wednesday as tariff refunds helped double the retailer's fiscal Q2 earnings year over year. Shares gained past 5%.TJX (TJX) issued a fiscal Q3 comparable store sales forecast that fell short of market expectations on Wednesday, but raised its full-year earnings outlook. Shares fell 3.3%.Lowe's (LOW) lowered full-year expectations on Wednesday as the home-improvement retailer's fiscal Q2 revenue fell short of market estimates amid pressure on do-it-yourself spending. Lowe's shares were up 2.4%.
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US Markets
Target Raises Full-Year Outlook as Tariff Refunds Boost Second-Quarter Earnings
Target (TGT) lifted its full-year outlook on Wednesday as tariff refunds helped double the retailer's fiscal second-quarter earnings year over year.Adjusted earnings are now anticipated to range from $9.90 to $10.90 per share for fiscal 2026, including tariff refunds that buoyed the second quarter by $1.65, the company said. It previously projected the metric in a range of $7.50 to $8.50.Earlier this year, the US Supreme Court ruled that the Trump administration lacked authority under the International Emergency Economic Powers Act to impose certain tariffs, paving the way for refunds to companies that had paid the duties.Sales are pegged to grow by about 5% for the ongoing fiscal year, one percentage point higher than Target's previous guidance. The Street is looking for sales of $109.02 billion, reflecting an annual increase of 4%.For the three months through Aug. 1, Target's adjusted EPS jumped 100% to $4.11, exceeding the average analyst estimate of $2.35. The topline improved 5.3% to $26.54 billion in the second quarter, ahead of the Street's view for $26.13 billion.Shares of the company rose 5.2% in Wednesday trade, taking their year-to-date gain to 64%."We saw broad-based growth across multiple dimensions of our business and importantly, the strength on the top-line translated into strong underlying profit performance as well," Chief Financial Officer Jim Lee said during an earnings call with analysts, according to a FactSet transcript.Comparable sales rose 3.8%, more than the market's forecast for a gain of 2.4%, as traffic rebounded.Truist Securities said the improvement in comparable sales and transactions underscore Target's investments in price and merchandise, among other areas.The retailer cut prices on more than 10,000 "frequently purchased items" over the past year, Target Chief Executive Michael Fiddelke said in a statement.Last week, Deutsche Bank and RBC Capital Markets said they expected Target to top consensus estimates for second-quarter comparable sales amid demand strength.On Wednesday, off-price retailer TJX (TJX) raised its fiscal 2027 earnings outlook, while home-improvement retailer Lowe's (LOW) lowered its full-year guidance to the bottom end of its previously issued forecast.Retail giant Walmart (WMT) is scheduled to release its latest results on Thursday, while department store operator Kohl's (KSS) financials are due next week. Warehouse chain Costco Wholesale (COST) is slated to publish its report next month.Price: $160.59, Change: $+8.11, Percent Change: +5.32%
$COST$KSS$LOW$TGT$TJX$WMT
US Markets
Lowe's Tempers Full-Year Outlook as DIY Weakness Drives Quarterly Sales Miss
Lowe's (LOW) lowered full-year expectations on Wednesday as the home-improvement retailer's fiscal second-quarter revenue fell short of market estimates amid pressure on do-it-yourself spending.Adjusted earnings and sales are now pegged at $12.25 a share and $92 billion for fiscal 2026, respectively, each representing the bottom end of the company's prior guidance range. The current consensus on FactSet is for non-GAAP EPS of $12.43 and sales of $92.91 billion.Comparable sales are set to be flat for the ongoing fiscal year, compared with the previous outlook range of flat to up 2%. The Street is looking for same-store sales growth of 0.8%."While the near-term remains dynamic, our teams are executing at a high level, advancing our total home strategy and investing to drive growth and profitability," Chief Executive Marvin Ellison said in a statement.On Tuesday, bigger rival Home Depot (HD) affirmed its full-year outlook and reported fiscal second-quarter results above Wall Street's estimates as customers continued to take on smaller projects.In an emailed client note, Truist Securities said Lowe's weaker performance than Home Depot may partly be attributable to Lowe's higher exposure to the DIY segment, which remains softer than its pro category.Lowe's posted sales of $25.96 billion for the three months through July, up from $23.96 billion the year before, but below the average analyst estimate of $26.13 billion. Comparable sales edged up 0.2%, trailing the market's expectation for an increase of 0.5%."Sustained growth in pro, online and home services led to our fifth consecutive quarter of positive comp sales, despite pressure in discretionary DIY spending," according to Ellison.Adjusted EPS increased to $4.40 from $4.33 year over year, defying the FactSet-polled consensus for a decline to $4.22. The result included a $0.11 per-share benefit from tariff refunds.Earlier this year, the US Supreme Court ruled that the Trump administration lacked authority under the International Emergency Economic Powers Act to impose tariffs, paving the way for refunds to companies that had paid the duties.Last week, Oppenheimer said the second-quarter results of Home Depot and Lowe's were unlikely to show meaningful signs of recovery amid persistent macroeconomic pressures.
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Sectors
Sector Update: Consumer Stocks Edging Higher in Early Wednesday Trading
Consumer stocks were edging higher in Wednesday trading, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) advancing by 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.3%.Lowe's (LOW) stock was down more than 3% after the company cut its fiscal 2026 guidance.TJX (TJX) shares declined more than 1% after the company's fiscal Q3 guidance trailed analysts' estimates.Viking (VIK) stock gained nearly 1% after the company reported higher Q2 adjusted earnings and revenue.
$LOW$TJX$VIK$XLP$XLY
Sectors
Sector Update: Consumer
Consumer stocks were edging higher pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) advancing by 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.3%.Lowe's (LOW) stock was down more than 1% after the company cut its fiscal 2026 guidance.
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Asia Markets
Update: US Equity Futures Mostly Flat Pre-Bell as Traders Await Fed Policy Meeting Minutes
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mostly flat pre-bell Wednesday as traders awaited the Federal Reserve's policy-setting meeting minutes for further insights on the central bank's rate outlook.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% lower.The minutes of the Federal Reserve meeting held July 28-29 are scheduled to be released 2 pm ET.President Donald Trump said late Tuesday that the US is not in any current or scheduled talks with Iran. In a post on Truth Social, Trump also reiterated that the Strait of Hormuz is "open and operating," with all mines having been removed or detonated.The UAE has halted trade with Iran after accusing Iran of firing two ballistics missiles towards its territory, which fell into the sea. Iran has denied the allegations, according to multiple reports.Traders digested the latest round of earnings, with Analog Devices (ADI) reporting higher fiscal Q3 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.2% at $90.84 per barrel and US West Texas Intermediate crude 0.3% lower at $83.84 per barrel.The Atlanta Fed Business Inflation Expectations survey for August is expected at 10 am ET.In other world markets, Japan's Nikkei closed 3.2% lower, Hong Kong's Hang Seng ended 0.1% higher, and China's Shanghai Composite finished 2.4% lower. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.2% lower in Europe's early afternoon session.In equities, Merck (MRK) and Moderna (MRNA) shares rose 6.8% and 93%, respectively, after the two companies said that a late-stage trial of intismeran autogene in combination with Keytruda met its primary endpoint of recurrence-free survival, as well as a key secondary endpoint of distant metastasis-free survival, in patients with completely resected stage IIB-IV melanoma. SK Hynix (SKHY) stock was up 5.9%% after the company said it will buy back and cancel 40 trillion South Korean won ($28.69 billion) of treasury shares as part of efforts to boost shareholder returns.On the losing side, Lowe's (LOW) shares fell 1.3% after the company reported fiscal Q2 net sales that fell short of analysts' consensus. TJX Companies (TJX) stock was down 4.3% after the company issued lower-than-expected fiscal Q3 diluted EPS guidance. Nebius Group (NBIS) shares dropped 4.9% after the company said it intends to offer $4.5 billion of convertible senior notes in a private offering to qualified institutional buyers.
Dow JonesNasdaq CompositeS&P 500$ADI$LOW$MRK$MRNA$NBIS$SKHY$TJX
US Markets
Stocks Mixed Pre-Bell Ahead of Fed Meeting Minutes
The main US stock measures were mixed in Wednesday's premarket activity as traders await minutes of the Federal Reserve's last policy meeting.The S&P 500 was flat and the Dow Jones Industrial Average was up 0.1% before the opening bell, while the Nasdaq edged down 0.2%. The indexes finished Tuesday trading lower for the third consecutive session.The Fed is scheduled to post minutes of its last policy meeting at 2 pm ET, which will be assessed for fresh insight on the central bank's monetary policy. At the meeting last month, policymakers left interest rates unchanged in a divided decision, with three regional presidents calling for policy tightening.Markets are currently pricing in a 67% probability that the Fed will keep its benchmark rate steady in September, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Treasury yields were down before the open, with the two-year rate retreating 1.7 basis points to 4.16% and the 10-year rate off 0.8 basis points to 4.7%.In a social media post on Tuesday, President Donald Trump said the US is not in negotiations with Iran, after a 60-day ceasefire between the two countries expired earlier this week. Trump also said the naval blockade against Tehran remains in "full force," while the Strait of Hormuz is "open and operating."Iran is considering targeting US military assets in Europe if the war escalates, the Financial Times reported Wednesday, citing sources.West Texas Intermediate crude oil rose 1.1% to $85.88 a barrel in premarket action, while Brent gained 1% to $91.95.In a separate Tuesday post on Truth Social, Trump said he paused the implementation of 50% tariffs on certain Canadian imports, shortly before the duties were to come into effect on Wednesday, as the two countries "have a deal," subject to the finalization of documents.Last month, Trump signed three proclamations to impose 50% tariffs on a range of Canadian goods.Shares of Lowe's (LOW) were down 2.6% pre-bell after the home-improvement retailer said it now expects its full-year results to be at the low end of its previously issued guidance range. Keysight Technologies (KEYS) increased 2.2% as the company issued an upbeat fiscal fourth-quarter earnings outlook.Analog Devices (ADI), TJX (TJX), Target (TGT) and Estee Lauder (EL) also report their latest financial results before the bell, among others. Nordson (NDSN) and Coty (COTY) post earnings after the markets close.Wednesday's economic calendar also has the weekly mortgage applications bulletin and the weekly EIA domestic petroleum inventories report.Gold nudged higher at $4,422 per troy ounce, while bitcoin decreased 0.5% to $64,320.
Dow JonesNasdaq CompositeS&P 500$ADI$COTY$EL$KEYS$LOW$NDSN$TGT$TJX
US Markets
Update: Equities Fall, Oil Rallies as US-Iran Ceasefire Expires
(Updates with market moves at the end of the day, and other changes, if any.)Stocks on Wall Street fell Monday and oil prices advanced as a ceasefire between the US and Iran expired, with both sides showing no interest in an extension.The S&P 500 and the Dow Jones Industrial Average shed 0.5% each to close at 7,745.06 and 53,459.78, respectively. The Nasdaq Composite lost 0.3% to 26,644.91. Except energy, all sectors were in the red, led by communication services and consumer staples.West Texas Intermediate crude oil was up 2.4% at $84.41 a barrel in Monday late-afternoon trade, while Brent rose 2.4% to $90.64.In June, the US and Iran agreed to a memorandum of understanding to end their war and negotiate a final deal. However, the truce apparently collapsed as tensions over the control of the Strait of Hormuz escalated.Iranian Foreign Ministry spokesman Esmail Baghaei ruled out extending the memorandum of understanding, according to a CNBC report that cited state news agency Tasnim.President Donald Trump warned that the US could attack Oman if the Gulf nation interferes with the blockade of Iranian ships in the Strait of Hormuz, The Wall Street Journal reported, citing an interview with Fox News.On Saturday, Israeli strikes in southern Lebanon left at least 11 people dead, Reuters reported, citing the Lebanese health ministry. Traffic through the strategic waterway slowed as three vessels operated by Abu Dhabi National Oil Co. were attacked in transit last week."Prices remained supported by renewed fighting in Lebanon and attacks on vessels in the Strait of Hormuz, raising concerns over regional supply disruptions and complicating prospects for a US-Iran deal," ING Bank said in a report Monday.US Treasury yields were higher, with the 10-year rate up 3.2 basis points at 4.73% and the two-year rate rising 1.3 basis points to 4.18%.In company news, JetBlue Airways (JBLU) shares slumped 7.3%, as Seaport Research Partners downgraded its rating on the air carrier's stock. JetBlue's balance sheet woes could worsen as the Strait of Hormuz appears unlikely to reopen anytime soon, potentially prolonging jet fuel volatility, Seaport said in a note.Shares of American Airlines Group (AAL), Southwest Airlines (LUV), United Airlines (UAL) and Delta Air Lines (DAL) were also in the red.Retail giant Walmart (WMT) is scheduled to release its latest financial results later this week, along with Home Depot (HD), TJX (TJX), Lowe's (LOW), Target (TGT), Ross Stores (ROST) and BJ's Wholesale Club (BJ).S&P 500 companies' annual growth in second-quarter earnings and revenue largely held steady week over week, Oppenheimer Asset Management said Monday.The Federal Reserve is scheduled to post minutes of its July policy meeting Wednesday, which will be assessed for fresh insight on the central bank's monetary policy. At the meeting, policymakers left interest rates unchanged in a divided decision, with three regional presidents calling for policy tightening.In economic news, homebuilder confidence in the US unexpectedly ticked higher this month, though builders continued to deal with rising construction costs amid a renewed surge in gas and diesel prices, the National Association of Home Builders and Wells Fargo said.Gold was up 0.9% at $4,475.40 per troy ounce, while silver advanced 1.7% to $66.20 per ounce.
Dow JonesNasdaq CompositeS&P 500$AAL$BJ$DAL$HD$JBLU$LOW$LUV$ROST$TGT$TJX$UAL$WMT
US Markets
Update: Equity Markets Fall Intraday, Oil Rises Amid Middle East Tensions
(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday, while oil prices rose as a ceasefire between Washington and Iran expired, with no indications of near-term engagement prospects.The Dow Jones Industrial Average was down 0.5% at 53,484.5 after midday Monday, while the S&P 500 fell 0.4% to 7,756.7. The Nasdaq Composite dropped 0.3% to 26,647.9. Among sectors, communication services saw the steepest decline, while energy led the gainers.West Texas Intermediate crude oil was up 1.3% at $83.44 a barrel, while Brent rose 1.4% to $89.77.In June, the US and Iran agreed to a memorandum of understanding to end their war and negotiate a final deal. However, the truce apparently collapsed as tensions over the control of the Strait of Hormuz escalated.Iranian Foreign Ministry spokesman Esmail Baghaei ruled out extending the memorandum of understanding, according to a CNBC report that cited state news agency Tasnim.President Donald Trump warned that the US could attack Oman if the Gulf nation interferes with the blockade of Iranian ships in the Strait of Hormuz, The Wall Street Journal reported, citing an interview with Fox News.On Saturday, Israeli strikes in southern Lebanon left at least 11 people dead, Reuters reported, citing the Lebanese health ministry. Traffic through the strategic waterway slowed as three vessels operated by Abu Dhabi National Oil Co. were attacked in transit last week."Prices remained supported by renewed fighting in Lebanon and attacks on vessels in the Strait of Hormuz, raising concerns over regional supply disruptions and complicating prospects for a US-Iran deal," ING Bank said in a report Monday.US Treasury yields were mixed intraday, with the 10-year rate up 2.4 basis points at 4.72% and the two-year rate little changed at 4.17%.In company news, JetBlue Airways (JBLU) shares were down 6.4%, as Seaport Research Partners downgraded its rating on the air carrier's stock. JetBlue's balance sheet woes could worsen as the Strait of Hormuz appears unlikely to reopen anytime soon, potentially prolonging jet fuel volatility, Seaport said in a note.Shares of American Airlines Group (AAL), Southwest Airlines (LUV), United Airlines (UAL) and Delta Air Lines (DAL) were also in the red intraday.Retail giant Walmart (WMT) is scheduled to release its latest financial results later this week, along with Home Depot (HD), TJX (TJX), Lowe's (LOW), Target (TGT), Ross Stores (ROST) and BJ's Wholesale Club (BJ).The Federal Reserve is scheduled to post minutes of its July policy meeting Wednesday, which will be assessed for fresh insight on the central bank's monetary policy. At the meeting, policymakers left interest rates unchanged in a divided decision, with three regional presidents calling for policy tightening.In economic news, homebuilder confidence in the US unexpectedly ticked higher this month, though builders continued to deal with rising construction costs amid a renewed surge in gas and diesel prices, the National Association of Home Builders and Wells Fargo said.Gold was up 0.9% at $4,475.40 per troy ounce, while silver advanced 1.7% to $66.20.
Dow JonesNasdaq CompositeS&P 500$AAL$BJ$DAL$HD$JBLU$LOW$LUV$ROST$TGT$TJX$UAL$WMT
Asia Markets
Update: US Equity Futures Mixed Pre-Bell as 60-Day US-Iran Ceasefire Expires
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mixed pre-bell Monday as the ceasefire between the US and Iran reaches its expiration date after 60 days, with the two countries still locked in a stalemate.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.4% higher.Vessels transiting the Strait of Hormuz dropped over the weekend at five ships compared with 31 in the previous weekend, according to a Reuters report that cited data from analytics firm Kpler.Iran's foreign minister Abbas Araghchi said that the country has not yet decided to restart talks with the US, according to multiple reports. President Donald Trump reiterated in a post on Truth Social that Iran "cannot have, in any way, shape, or form, a Nuclear Weapon."Companies expected to report financial results this week include Walmart (WMT), Home Depot (HD), Analog Devices (ADI), Alibaba Group (BABA), TJX (TJX), and Lowe's (LOW).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.7% at $89.14 per barrel and US West Texas Intermediate crude 0.7% higher at $82.05 per barrel.The New York Federal Reserve's Empire State manufacturing index increased to 20.6 in August versus 15.6 in July, compared with expectations for a decline to a reading of 10.0 in a survey compiled by Bloomberg.The August US housing market index, slated for 10 am ET, is expected at 33, compared with 34 from the prior month.In other world markets, Japan's Nikkei closed 0.7% higher, Hong Kong's Hang Seng ended 1.3% higher, and China's Shanghai Composite finished 1.4% higher. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, stocks of Micron Technology (MU) and Sandisk (SNDK) shares were up 2.8% and 3.6%, respectively, after regulatory filings on Friday showed that AI-focused hedge fund Situational Awareness increased its stakes in the companies. Alibaba Group shares were up 1.7% after a Bloomberg report that Qwen artificial intelligence models have exceeded 3 billion in downloads globally over the last six months, topping that of Meta Platforms (META) and Alphabet's (GOOG,GOOGL) Google.On the losing side, L3Harris Technologies (LHX) stock was down 2.7% after the company said it appointed Sam Mehta as CEO to replace Christopher Kubasik, who stepped down as chairman and CEO following an investigation into his conduct the company said was inconsistent with its Code of Conduct. Dynatrace (DT) shares were 1.4% lower after the company said its unit Dynatrace LLC is planning a $1.25 billion private placement of exchangeable senior unsecured notes due Sept. 1, 2031.
Dow JonesNasdaq CompositeS&P 500$ADI$BABA$DT$GOOG$GOOGL$HD$LHX$LOW$META$MU$SNDK$TJX$WMT
Japan
US Equity Futures Mixed Pre-Bell as 60-Day US-Iran Ceasefire Expires
US equity futures were mixed pre-bell Monday as the fragile ceasefire between the US and Iran reaches its expiration date after 60 days, with the two nations still locked in a stalemate.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.5% higher.Vessels transiting the Strait of Hormuz dropped over the weekend at five ships compared with 31 in the previous weekend, according to a Reuters report that cited data from analytics firm Kpler.Iran's foreign minister Abbas Araghchi said that the nation has not yet decided to restart talks with the US, according to multiple reports. President Donald Trump reiterated in a post on Truth Social that Iran "cannot have, in any way, shape, or form, a Nuclear Weapon."Expected to report financial results this week are Walmart (WMT), Home Depot (HD), Analog Devices (ADI), Alibaba Group (BABA), The TJX Companies (TJX), and Lowe's (LOW).Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.9% at $62.12 per barrel and US West Texas Intermediate crude 2% lower at $58.28 per barrel.The August Empire State manufacturing index, slated for release at 8:30 a.m. ET, is seen coming in at 10.0 versus 15.6 previously, according to estimates compiled by Bloomberg. The August US housing market index, slated for 10 am ET, is expected at 33, compared with 34 from the prior month.
Dow JonesNasdaq CompositeS&P 500$ADI$BABA$HD$LOW$TJX$WMT
US Markets
Stocks Mostly Up Pre-Bell as Traders Await Fed Meeting Minutes, Retail Earnings
The benchmark US stock measures were mostly pointing higher before the opening bell Monday as traders await minutes of the Federal Reserve's last policy meeting and the latest quarterly results from some of the biggest retail companies.The S&P 500 rose 0.2% and the Nasdaq added 0.6% in premarket activity, while the Dow Jones Industrial Average edged down 0.1%. All three major indexes finished Friday trading in the red.The Fed is scheduled to post minutes of its July policy meeting Wednesday, which will be assessed for fresh insight on the central bank's monetary policy. At the meeting, policymakers left interest rates unchanged in a divided decision, with three regional presidents calling for policy tightening.Last week, the Bureau of Labor Statistics published benign consumer inflation data for July that lowered bets for a Fed interest-rate hike next month. Government data also showed that producer prices held steady last month, defying expectations for a monthly rise.Markets are currently pricing in a 69% probability that the Fed will keep its benchmark rate steady next month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Treasury yields were down in premarket action, with the two-year rate retreating 1.3 basis points to 4.16% and the 10-year rate off 0.8 basis points to 4.69%.Retail giant Walmart (WMT) is scheduled to release its latest financial results later this week, along with Home Depot (HD), TJX (TJX), Lowe's (LOW), Target (TGT), Ross Stores (ROST) and BJ's Wholesale Club (BJ).On Friday, official data showed that retail sales unexpectedly decreased in July, registering the largest monthly drop in more than a year.West Texas Intermediate crude oil increased 0.8% to $83.08 a barrel before the open, while Brent gained 1.2% to $89.61.Iranian Foreign Minister Abbas Araghchi reportedly said over the weekend that Iran hasn't decided to resume talks with the US, according to CNBC. Shipping traffic through the Strait of Hormuz slowed over the weekend, with five vessels transiting the crucial waterway on Saturday and none on Sunday, Reuters reported Monday, citing shiptracking data from Kpler.Monday's economic calendar has the Empire State manufacturing index for August at 8:30 am ET, followed by the housing market index for the same month at 10 am.Shares of Broadcom (AVGO) rebounded 1.2% pre-bell after closing Friday trading with a 5.9% drop. Micron Technology (MU) advanced 3.4%, while Advanced Micro Devices (AMD) ticked up 1%. Sandisk (SNDK) inclined 5.1%.Gold nudged 0.3% higher to $4,452 per troy ounce, while bitcoin traded up 0.2% at $63,239.
Dow JonesNasdaq CompositeS&P 500$AMD$AVGO$BJ$HD$LOW$MU$ROST$SNDK$TGT$TJX$WMT
Asia Markets
US Equity Investors to Focus on Fed Policy Minutes, PMIs Alongside Trump's Move to Inflict Intense Economic Pain on Iran
US equity investors are expected to focus on macroeconomic data this week following recent soft prints that reduced the urgency for monetary policy tightening, while keeping an eye on any announcements that significantly ratchet up economic pain in Iran and quarterly earnings.* Economic data due this week includes the July minutes of the Federal Open Market Committee meeting, S&P Global manufacturing and services purchasing managers' indexes, industrial production, building permits and housing starts. Last week, both headline and core consumer and wholesale price inflation rates for July declined from a year ago, and retail sales slid unexpectedly in the month, the most since May 2025.* Watch for a potentially major escalation of trade and market tensions beginning this week, according to a note from Scotiabank late Friday. That's because US Treasury Secretary Bessent pledged to introduce "measures like have never been seen in the history of economic isolation of a country," referring to Iran.* Home Depot (HD), Analog Devices (ADI), TJX Companies (TJX), Lowe's Companies (LOW), Target (TGT), Walmart (WMT), Deere (DE), Ross Stores (ROST), NetEase (NTES) are among the companies reporting quarterly results next week.* The 60-day deadline for the conclusion of peace talks in the memorandum of understanding the US and Iran signed in June ended on Monday without any formal announcements so far to end the war.* Talks between Iran and Oman regarding the Strait of Hormuz are complex but continuing "in all seriousness," CNN reported, citing Iran's Foreign Ministry spokesman Esmaeil Baghaei on Monday.* Baghaei said a "transit route map" has been agreed upon, but a final agreement including a joint statement has not been finalized, CNN cited reporting from Tasnim. Referring to one of the reasons for the delay, Baghaei said some "malevolent parties" want the region to "always be in a state of conflict and chaos."
Dow JonesNasdaq CompositeS&P 500$ADI$DE$HD$LOW$NTES$ROST$TGT$TJX$WMT
Wire
S&P 500 Ekes Out Weekly Gain Amid Growing Probability of Fed Pause Extension
The Standard & Poor's 500 index rose 0.4% this week after cooling inflation and an unexpected drop in retail sales boosted the odds for a sixth straight monetary policy pause in September.The market benchmark ended the week at 7,785.76. The index is now up 3.8% quarter-to-date and 14% this year.The probability of the Federal Reserve extending its policy pause next month jumped after July's consumer and wholesale price inflation rates, both headline and core, declined and retail sales for the month unexpectedly slumped the most since May 2025. There's now a 67% chance that the Fed will leave interest rates unchanged, up from 56% a week ago, according to the CME FedWatch tool.Treasury Secretary Scott Bessent said on CNN that the US plans to announce measures on Iran next week that have "never been seen."Defense Secretary Pete Hegseth said the US can sustain its blockade against Iran "indefinitely," Al Jazeera reported.The energy sector in the S&P 500 had the largest percentage gain of the week, up 7.3%, followed by a 1.5% advance in utilities and 1% increases for both consumer staples and health care. Financials, industrials, real estate and tech also rose week to week.Phillips 66 (PSX) is expected to accelerate share repurchases in H2 this year, supported by ongoing balance sheet deleveraging, UBS said in a note. Separately, Phillips 66, Kinder Morgan (KMI), and HF Sinclair (DINO) said they have reached a final investment decision to move forward with a joint venture to build the $5 billion Western Gateway Pipeline system. Shares of Phillips 66 surged 15% this week.Three S&P 500 sectors that declined this week were consumer discretionary, communication services and materials, down 2%, 1% and 0.9%, respectively.Tapestry (TPR) shares tumbled 21% this week after the company set out a fiscal 2027 revenue outlook below the midpoint of Wall Street's forecast range, taking the shine off stronger-than-expected fiscal Q4 adjusted earnings and revenue.AppLovin's (APP) 30% long-term annual revenue growth target lacks sufficient evidence, with uncertainty rising around the sustainability of its self-learning growth, BofA Securities said in a report. BofA downgraded its rating on AppLovin stock to neutral from buy and lowered its price target to $400 from $430. Shares of Applovin slumped 9% this week.Home Depot (HD), Analog Devices (ADI), TJX Companies (TJX), Lowe's Companies (LOW), Target (TGT), Walmart (WMT), Deere (DE), Ross Stores (ROST), NetEase (NTES) are among the companies reporting quarterly results next week.Economic data due next week includes the July minutes of the Federal Open Market Committee meeting, S&P Global manufacturing and services purchasing managers' indexes, industrial production, building permits and housing starts.
S&P 500$ADI$APP$DE$DINO$HD$KMI$LOW$NTES$PSX$ROST$TGT$TJX$TPR$WMT
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