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Home Depot, Lowe's Quarterly Results Unlikely to Show Signs of Recovery Amid Macro Pressures, Oppenheimer Says
US Markets

Home Depot, Lowe's Quarterly Results Unlikely to Show Signs of Recovery Amid Macro Pressures, Oppenheimer Says

Home improvement retailers Home Depot (HD) and Lowe's (LOW) second-quarter results are unlikely to show meaningful signs of recovery amid persistent macroeconomic pressures, Oppenheimer said in a Friday note.Oppenheimer is projecting second-quarter earnings per share of $4.66 for Home Depot, which would indicate a 0.5% decline year over year. The brokerage expects Home Depot's comparable sales for the quarter to be flat to up 1%. Analysts polled by FactSet expect adjusted EPS of $4.73 and same-store sales growth of 0.9%.Oppenheimer expects Lowe's second-quarter EPS to match Wall Street's estimate, which it put at $4.24, while projecting comparable sales growth of 1%, in line with management's expectations, which the brokerage described as "subdued."The market is eager to turn more constructive on Home Depot and the broader sector on the prospect of a long-awaited cyclical recovery, Oppenheimer said. However, the brokerage believes the recent increase in Home Depot's shares could prove "premature" given continued softness in sector data.Home Depot is scheduled to release its results on Aug. 18, while Lowe's reports the following day."We are hard-pressed to envision second quarter results from the chains yielding meaningful 'green shoots' suggestive of long-awaited, sustained demand recovery within home improvement," analysts Brian Nagel and Andrew Chasanoff said in the note.The brokerage said it previously highlighted the potential for moderating interest rates as a tailwind for Home Depot and Lowe's. However, it is now turning "less optimistic" about rates declining meaningfully in the near term.Price: $338.26, Change: $-3.44, Percent Change: -1.01%

$HD$LOW
Walmart Among Big-Box Retailers That May Miss Comparable Sales Expectations, RBC Says
US Markets

Walmart Among Big-Box Retailers That May Miss Comparable Sales Expectations, RBC Says

Major US retailers such as Walmart (WMT) will likely miss consensus expectations for second-quarter comparable sales, though Target (TGT) is seen delivering a beat, RBC Capital Markets said in a Wednesday note.Home Depot (HD) is scheduled to release its results Aug. 18, followed by Target and Lowe's (LOW) on Aug. 19. Walmart reports Aug. 20.For the second quarter, RBC raised Home Depot's same-store sales growth expectations to 0.7% from 0.2%, lower than Wall Street's 1% consensus. RBC cut estimates for Lowe's to show a flat performance, compared with a 0.5% rise previously penciled in. Analysts expect a 0.7% increase at Lowe's.RBC left its estimates for Walmart's US operations unchanged, having trimmed projections in July to 3.5% from 4%, versus the 3.8% market view.Target's comparable sales growth outlook moved higher to 3% from 2%, exceeding the consensus estimate of 2.2%.RBC raised Home Depot's price target to $343 from $340, citing stable housing trends, market share gains and easy compares in the second half. "We remain sector perform as we continue to struggle with the catalyst for improved housing turnover, which is likely to keep (earnings per share) growth muted," RBC analyst Steven Shemesh said.Home Depot said Wednesday that Chief Executive Ted Decker is taking a temporary medical leave of absence. Ann-Marie Campbell, senior executive vice president, will oversee the home improvement retailer's day-to-day operations, while Chief Financial Officer Richard McPhail will provide oversight of the company's financial management and Pro subsidiaries.RBC pointed to softness in the do-it-yourself segment at Lowe's, whose price target slipped to $231 from $232. "We'd argue that the low-end of (2026) guidance now feels more likely," Shemesh said.The brokerage kept Walmart's price target unchanged at $137.RBC increased Target's price target to $166 from $153, saying its full-year adjusted EPS guide could be raised to around $8.20 to $8.80, versus market expectations of $8.48."While we're encouraged by the progress being made at (Target), we think a beat/raise is already embedded in shares and as such would argue the bar for outperformance on the print is very high," Shemesh said. "We believe reinvestment and advertising momentum should drive modestly better comp in (the second half)."Price: $153.60, Change: $+2.47, Percent Change: +1.63%

$HD$LOW$TGT$WMT
Wire

Home Depot to Benefit From Professional Demand More than Lowe's in Q2, BofA Says

Home Depot's (HD) higher exposure to professional customers is expected to benefit it in Q2 more than Lowe's (LOW), BofA Securities said in a Monday note previewing the upcoming earnings of home improvement retailers.Based on aggregated spending data from Bank of America (BAC) credit and debit cards, spending on housing-related services, which BofA analysts used as a proxy for professional customer spending, continues to be higher than spending by do-it-yourself customers, and Housing-related services spending grew 5.5% in Q2 from 4% in the previous quarter, while home-improvement spending swung to 0.5% from negative 0.9% in the prior quarter, according to the note.Home Depot's Pro heavy business model should drive outperformance in Q2, and help it attain 2026 EPS near the midpoint of its guidance, the analysts said. Lowe's (LOW) is seen finishing the year at the lower end of its EPS outlook, given a downside risk to its margins in H2 if higher promotional rates are needed to attract customers.Further, the two companies are expected to use tariff refunds to help absorb supply chain costs, as well as potentially support promotions costs, the analysts said.BofA reiterated Home Depot's stock rating at buy and increased the price target to $412 from $374. The brokerage also reiterated Lowe's stock rating at neutral and lowered the price target to $256 from $257.Price: $349.32, Change: $-6.30, Percent Change: -1.77%

$BAC$HD$LOW
Insider Trading

Lowes Companies Insider Sold Shares Worth $559,575, According to a Recent SEC Filing

Margrethe R Vagell, Executive Vice President, Supply Chain, on June 18, 2026, sold 2,500 shares in Lowes Companies (LOW) for $559,575. Following the Form 4 filing with the SEC, Vagell has control over a total of 21,115 common shares of the company, with 20,220 shares held directly and 895 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/60667/000006066726000098/xslF345X05/wk-form4_1782160956.xml

$LOW
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
Research

Research Alert: CFRA Moves To Buy From Hold On Shares Of Lowe's Companies, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month target price of $249 (down from $274) is 20x our FY 27 EPS view of $12.44. The multiple is a premium to the ten-year P/E mean of 18.3x, justified by secular demand drivers, including an aging U.S. housing stock, record home equity levels, and a U.S. home shortage. Additionally, we think recent acquisitions will position LOW for significant market share gains. Our FY 27 EPS view of $12.44 is revised from $12.45 and FY 28 EPS of $13.34 is revised from $13.64. Although we think markets are pricing in the pressured existing housing market as a result of the higher-for-longer interest rate environment and higher fuel prices, we see LOW as positioned to offset some of this pressure with its recent acquisitions, which target the new housing market and commercial demand, as it has recently won new contracts for projects like data centers, stadiums, and municipalities. We also see LOW continuing to benefit from demand in its appliances departments, which should continue as the replacement cycle gains momentum.

$LOW
Wire

Lowe's Faces Risks to 2026 Numbers Amid Poor Category Outlook, RBC Says

Lowe's (LOW) faces risks to 2026 numbers amid rising rates, consumer pressure, and cost inflation, RBC Capital Markets said in a Wednesday research report.The brokerage said it lowered its Q2 adjusted EPS guidance to $4.24 and comp estimate to 0.5%. For 2026 and 2027, RBC now expects adjusted EPS of $12.35 and $12.87, respectively, from $12.59 and $13.20 earlier.In Q1, comp trends by month were choppy due to winter storms, but trends improved and peaked in March, while April was said to be in-line with expectations, analysts wrote.Overall, big ticket comps continue to accelerate, while the company's perpetual productivity improvement initiatives record greater benefit from AI, according to the note.The company found efficiencies through the use of AI as new tools support demand planning, allocation and replenishment, as well as pricing and promotions, according to RBC.The brokerage said it reiterated its sector perform rating on the stock and cut its price target to $232 per share from $264.Price: $214.76, Change: $-6.29, Percent Change: -2.85%

$LOW
Wire

Lowe's Faces 'Constrained' Earnings Growth Amid Weak DIY Demand, BofA Says

Lowe's (LOW) is facing "constrained" earnings growth as weak DIY discretionary demand continues to weigh on results amid a challenging housing market backdrop, BofA Securities said in a report Thursday.The firm noted that Q1 comparable sales rose 0.6%, supported by strength in professional customers, appliances, online sales and home services, while discretionary DIY demand lagged.Lowe's Q2 earnings per share guidance, which calls for a 2% year-over-year decline, reflects incremental operating margin pressure from higher transportation costs and investments in promotions, marketing and fulfillment offers, the report said.BofA said "productivity initiatives" will likely help offset higher transportation costs in the second half of the year and that it is modeling an improvement in transaction trends during that period. But the analysts said their forecasts are "drifting toward" the low end of management's guidance range absent an improvement in housing fundamentals, according to the report.BofA reiterated a neutral rating on Lowe's and lowered its price target to $257 from $260. It also lowered its fiscal 2026 and 2027 EPS estimates to $12.33 and $12.84, respectively, citing weaker Q2 sales and margin expectations.Price: $216.45, Change: $-4.60, Percent Change: -2.08%

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Wire

BofA Securities Cuts Price Target on Lowe's to $257 From $260, Maintains Neutral Rating

Lowe's (LOW) has an average rating of overweight and mean price target of $264.63, according to analysts polled by FactSet.Price: $216.38, Change: $-4.68, Percent Change: -2.11%

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Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 2.3%.In corporate news, GameStop (GME) increased its stake in eBay (EBAY) to about 6.6%, according to a Schedule 13D filed with the Securities and Exchange Commission. GameStop shares rose 2.6%, and eBay gained 3.9%.TJX (TJX) raised its full-year outlook Wednesday after posting stronger-than-expected fiscal Q1 results, with comparable sales rising across all segments. Its shares popped 5.6%.Lowe's (LOW) reported fiscal Q1 results above market estimates, while the home improvement retailer affirmed its full-year outlook. Shares rose 0.9%.Hasbro (HAS) shares dropped past 9%. The company reported a Q1 operating loss for the consumer products division amid largely flat sales even as the toymaker delivered stronger-than-expected results at the consolidated level.

$EBAY$GME$HAS$LOW$TJX
Sectors

Sector Update: Consumer Stocks Mixed Wednesday Afternoon

Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 2.2%.In corporate news, Lowe's (LOW) reported fiscal Q1 results above market estimates, while the home improvement retailer affirmed its full-year outlook. Shares rose 0.8%.Hasbro (HAS) shares dropped past 6%. The company reported a Q1 operating loss for the consumer products division amid largely flat sales even as the toymaker delivered stronger-than-expected results at the consolidated level.Target (TGT) raised its full-year sales growth outlook on Wednesday as the retailer recorded higher-than-expected fiscal first-quarter results. Shares still fell 4%.

$HAS$LOW$TGT
Sectors

Sector Update: Consumer

Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.9%.In corporate news, Lowe's (LOW) reported fiscal Q1 results above market estimates on Wednesday, while the home improvement retailer affirmed its full-year outlook. Its shares rose 0.7%.

$LOW
Wire

Truist Securities Adjusts Price Target on Lowe's Companies to $255 From $280, Maintains Buy Rating

Lowe's Companies (LOW) has an average rating of overweight and mean price target of $282.57, according to analysts polled by FactSet.Price: $218.14, Change: $-0.24, Percent Change: -0.11%

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Wire

Wells Fargo Adjusts PT on Lowe's Companies to $255 From $260, Maintains Overweight Rating

Lowe's Companies (LOW) has an average rating of overweight and mean price target of $282.73, according to analysts polled by FactSet.Price: $218.90, Change: $+0.53, Percent Change: +0.24%

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Wire

Top Midday Stories: Target Beats Q1 Estimates, Ups Sales Guidance, But Shares Fall; Intuit Laying Off 17% of Global Workforce

All three major US stock indexes were up in late-morning trading Wednesday, a day after a jump in long-dated US Treasury yields caused equities to retreat, and ahead of Nvidia's (NVDA) highly anticipated earnings results in the afternoon.In company news, Target (TGT) reported fiscal Q1 adjusted earnings of $1.71 per diluted share, up from $1.30 a year earlier and above the FactSet consensus analyst estimate of $1.47. Fiscal Q1 net sales were $25.44 billion, up from $23.85 billion a year ago and above the FactSet consensus of $24.66 billion. For fiscal 2026, the company said it expects adjusted EPS to be near the high end of its prior guidance range of $7.50 to $8.50, compared to the FactSet consensus of $8.12. Full-year net sales are projected to grow around 4% from 2025, up from its prior guidance of 2% growth. Analysts expect net sales of $107.15 billion. Target shares were down 4.4% around midday.Intuit (INTU) is laying off about 17% of its global workforce, or roughly 3,000 workers, Reuters reported, citing an internal memo. The company also plans to close its Reno and woodland Hills offices, the report said. Intuit shares were down 3.5%.TJX (TJX) reported fiscal Q1 earnings Wednesday of $1.19 per diluted share, up from $0.92 a year earlier and above the FactSet consensus of $1.02. Fiscal Q1 net sales were $14.32 billion, up from $13.11 billion a year earlier and above the FactSet consensus of $14.02 billion. For fiscal Q2, the firm said it expects EPS of $1.15 to $1.17, compared with the consensus of $1.17. TJX expects comparable sales to grow 2% to 3% in fiscal Q2. For fiscal 2027, the company expects EPS of $5.08 to $5.15, up from its prior guidance of $4.93 to $5.02, and compared with the consensus of $5.13. Full-year comparable sales are expected to grow 3% to 4%, up from 2% to 3% previously. TJX shares were up 6%.Lowe's (LOW) reported fiscal Q1 adjusted earnings of $3.03 per diluted share, up 3.8% from a year earlier and above the FactSet consensus of $2.97. Fiscal Q1 net sales were $23.08 billion, up from $20.93 billion a year ago and above the consensus of $22.98 billion. Shares were down 0.4%.Analog Devices (ADI) reported fiscal Q2 adjusted earnings of $3.09 per diluted share, up from $1.85 a year earlier and above the FactSet consensus of $2.88. Fiscal Q2 revenue was $3.62 billion, up from $2.64 billion a year ago and above the FactSet consensus of $3.51 billion. For fiscal Q3, the firm expects adjusted EPS of $3.30, plus or minus $0.15, above the consensus of $2.99. Fiscal Q3 revenue is expected to be $3.9 billion, plus or minus $100 million, above the FactSet consensus of $3.61 billion. Analog Devices shares were down 5.8%.Price: $225.58, Change: $+4.97, Percent Change: +2.25%

$ADI$INTU$LOW$NVDA$TGT$TJX
Lowe's Tops First-Quarter Views, Maintains Full-Year Outlook
US Markets

Lowe's Tops First-Quarter Views, Maintains Full-Year Outlook

Lowe's (LOW) reported fiscal first-quarter results above market estimates on Wednesday, while the home improvement retailer affirmed its full-year outlook.Its adjusted earnings of $3.03 a share for the three months through May 1 rose 3.8% from the year before, topping the FactSet-polled consensus of $2.97. The result excluded pre-tax expenses of $96 million linked to the retailer's acquisitions of Foundation Building Materials and Artisan Design Group last year.Sales climbed to $23.08 billion from $20.93 billion, ahead of the Street's view for $22.98 billion. Comparable sales edged up 0.6%, buoyed by online sales growth of about 16% and demand for appliances and home services. However, the metric trailed the market's expectation for an increase of 0.7%."Strong spring execution and continued momentum in pro, appliances, online, and home services supported a solid start to the year as we delivered our fourth consecutive quarter of positive (comparable) sales," Chief Executive Marvin Ellison said in a statement. "In spite of a challenging housing macro, we remain focused on advancing our total home strategy to provide the best experience for our customer."For fiscal 2026, Lowe's continues to project adjusted EPS of $12.25 to $12.75 and sales between $92 billion and $94 billion. Comparable sales are still pegged at flat to up 2%.The Street is looking for non-GAAP EPS of $12.58 on $93.25 billion in full-year sales, with expected same-store sales growth of 1.3%.Shares of the company were down 3.7% in Wednesday trade, and have lost about 13% so far this year.Truist Securities has a buy rating on Lowe's stock."Given stable demand and the near cycle lows for housing investment, we continue to believe the bias to an inflection is to the upside, with timing uncertainty as the primary risk," the brokerage said in a client note.On Tuesday, rival Home Depot reiterated its fiscal 2026 guidance following better-than-expected first-quarter results.Earlier in the week, Oppenheimer expected Home Depot and Lowe's to lower their full-year guidance.Price: $210.69, Change: $-7.68, Percent Change: -3.52%

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Sectors

Sector Update: Consumer Stocks Mixed Premarket Wednesday

Consumer stocks were mixed premarket Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining by 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.3%.TJX (TJX) stock was up more than 3% after the company posted higher fiscal Q1 earnings and net sales, and raised its fiscal 2027 outlook.Lowe's (LOW) shares were down more than 1% even after the company reported higher fiscal Q1 adjusted earnings and net sales.Arcos Dorados Holdings (ARCO) stock was up more than 7% after the company reported higher Q1 earnings and revenue.

$ARCO$LOW$TJX$XLP$XLY
Asia Markets

US Equity Futures Edge Higher Pre-Bell Amid Chip Sector Gains as Traders Await Nvidia Earnings

US equity futures were edging higher pre-bell Wednesday as traders anticipated Nvidia's (NVDA) fiscal Q1 financial results, expected after the closing bell, amid share gains in the broader chip sector.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.7% higher.Investors look forward to Nvidia's earnings for key information on trends in artificial intelligence and the demand for chips. The company's stock was up 1.6% in premarket activity.Traders digested the latest round of earnings, with Analog Devices (ADI) posting higher fiscal Q2 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.9% at $107.67 per barrel and US West Texas Intermediate crude 3.3% lower at $100.96 per barrel.The Atlanta Fed Business Inflation Expectations survey for May is scheduled for release at 10 am ET. The Federal Reserve will release the minutes of its most recent policy meeting at 2 pm.Fed Governor Michael Barr is slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 1.2% lower, Hong Kong's Hang Seng ended 0.6% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, gains of major chip firms AMD (AMD), Micron Technology (MU), and Intel (INTC) helped propel the wider semiconductor sector. AMD stock was up 2.4%, Micron shares rose 3.8%, and Intel stock was up 4.8%.On the losing side, Lowe's (LOW) stock was down 1.2% despite reporting higher fiscal Q1 adjusted earnings and sales. Energy firms Exxon Mobil (XOM), BP (BP), and Equinor (EQNR) saw their stocks drop as oil prices declined. Exxon Mobil shares were down 0.9%, BP stock fell 1.1%, and Equinor shares were down 1.6%.

Dow JonesNasdaq CompositeS&P 500$ADI$AMD$BP$EQNR$INTC$LOW$MU$NVDA$XOM
Research

Research Alert: Lowe's Strategic Initiatives Lead Q1 Beat Amid Tough Housing Market

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Lowe's reported Q1 FY 27 (Jan.) total sales of $23.1B, surpassing expectations and up 10.3% from $20.9B the prior year, due to FBM and ADG acquisitions. Organic comparable sales rose 0.6% vs. 0.75% expected, while adjusted EPS of $3.03 beat consensus of $2.97 and increased from $2.92 the prior year. Strategic initiatives in Pro, Appliances, and Home Services, along with 15.5% online growth, demonstrate execution strength amid challenging housing conditions. Management affirmed FY 27 guidance of flat to +2% comparable sales and $12.25-$12.75 EPS, signaling confidence despite acknowledging a "challenging housing macro." We expect the transition to remodeling as homeowners stay put longer will remain limited given consumer economic uncertainty and high financing costs. We anticipate that LOW's strategic focus areas will help offset persistent market headwinds, though big-ticket pressure may continue weighing on comparable sales growth in the near term.

$LOW
Stocks Gain Pre-Bell Ahead of Nvidia Earnings, Fed Meeting Minutes
US Markets

Stocks Gain Pre-Bell Ahead of Nvidia Earnings, Fed Meeting Minutes

The main US stock measures were pointing higher in Wednesday's premarket activity as traders await tech bellwether Nvidia's (NVDA) latest financial results and minutes of the Federal Reserve's last policy meeting.The S&P 500 rose 0.4%, the Dow Jones Industrial Average edged up 0.1% and the Nasdaq added 0.7% before the opening bell. The indexes finished Tuesday trading lower, with the Nasdaq and S&P 500 recording losses for a third consecutive session.Shares of Nvidia increased 1.8% pre-bell, with the chipmaker scheduled to report its fiscal first-quarter results after the markets close. The current consensus on FactSet is for the company to report non-GAAP earnings of $1.75 per share and revenue of $78.91 billion for the quarter.Nvidia's 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.The Fed is scheduled to post minutes of its last policy meeting at 2 pm, which will be assessed for fresh insight on the central bank's monetary policy. Last month, the central bank held interest rates steady, saying the Middle East war is fueling uncertainty around the US economic outlook.Markets widely expect the Fed to keep its benchmark lending rate unchanged at its next policy meeting in June, according to the CME FedWatch tool.Treasury yields were down before the open, with the two-year rate retreating 3.3 basis points to 4.09% and the 10-year rate declining 1.8 basis points to 5.16%.President Donald Trump reportedly said Tuesday that the US may need to resume military strikes against Iran. Earlier in the week, Trump said the US postponed a planned attack on Tehran after leaders of Saudi Arabia, Qatar and the United Arab Emirates urged restraint amid "serious" ongoing negotiations.West Texas Intermediate crude oil decreased 1.9% to $102.17 a barrel in premarket action, while Brent dropped 2% to $109.02.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by the EIA domestic petroleum inventories report at 10:30 am. Fed Governor Michael Barr is slated to speak at 9:15 am.Analog Devices (ADI), TJX (TJX), Lowe's (LOW), Target (TGT) and Hasbro (HAS) are expected to post their earnings before the bell, among others. Intuit (INTU), Nordson (NDSN) and Urban Outfitters (URBN) release their results after the markets close.Gold nudged 0.4% lower to $4,493 per troy ounce, while bitcoin gained 0.9% to $77,457.

Dow JonesNasdaq CompositeS&P 500$ADI$HAS$INTU$LOW$NDSN$NVDA$TGT$TJX$URBN

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