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TJX (TJX) shares fell 1.1% in Wednesday trading after Jefferies downgraded the stock to hold from buy and cut its price target to $145 from $180.Intraday volume topped 5.51 million shares, compared with the daily average of 6.06 million.Price: $137.92, Change: $-1.56, Percent Change: -1.12%
Kohl's (KSS) continues to expect subdued sales this year amid a difficult operating environment, even though it raised earnings guidance due to tariff refunds.The department store chain expects fiscal 2026 net and comparable sales to be flat to down 1.5% year over year, improving the bottom end from its previous forecast that called for a 2% drop. Analysts expect a 0.3% drop in same store sales this year."We are operating in a challenging macroeconomic environment where our customers are experiencing persistent financial pressures from inflation in their everyday expenses like gas and food, while their day-to-day priorities may change," Chief Executive Michael Bender said during an earnings call, according to a FactSet transcript. "And as we look to the remainder of the year, we expect this economic backdrop to continue."Full-year adjusted earnings are now expected between $1.80 and $2.40 per share, up from the prior $1 to $1.60 range. Analysts polled by FactSet expect $1.45.The revised earnings guidance includes a tariff refund benefit of about $0.65, Chief Financial Officer Jill Timm told analysts. The company received about $150 million in tariff refunds in the second quarter, giving Kohl's "even greater financial flexibility," she said.Shares of the company were up 2.3% in Wednesday trade, and have fallen 11% this year.For the second quarter ended Aug. 1, Kohl's adjusted EPS rose to $1.28 from $0.56 in the prior-year period, compared with the $0.58 consensus view. Net sales declined 0.9% annually to $3.318 billion, missing the average analyst estimate of $3.323 billion. Comparable sales also declined 0.9%, compared with analysts' view of a 0.6% drop.Earlier in August, UBS Securities expected Kohl's to raise its full-year EPS guidance "slightly" due to strong second-quarter trends.Macy's (M) raised its full-year outlook in June as the department store operator's fiscal first-quarter earnings unexpectedly increased on an annual basis. Off-price retailer TJX (TJX) raised its fiscal 2027 earnings outlook last week and held its comparable sales growth forecast steady.Price: $18.02, Change: $+0.34, Percent Change: +1.89%
TJX (TJX) has an average rating of overweight and mean price target of $172.79, according to analysts polled by FactSet.
Ross Stores (ROST) raised its full-year earnings outlook as the off-price apparel and home fashion chain reported stronger-than-expected fiscal second-quarter results.The company now anticipates earnings between $8.61 and $8.77 per share for fiscal 2026, Chief Executive Jim Conroy said in a statement late Thursday. The retailer previously projected the metric to be in a range of $7.50 to $7.74, compared with the current consensus on FactSet for $7.83."We believe we are well positioned to capture additional market share and drive profitable growth over the long term," Conroy said.Ross Stores' EPS climbed to $2.66 for the three-month period ended Aug. 1 from $1.56 the year before, topping the average analyst estimate of $1.94. The results included an approximate $0.60 benefit from tariff refunds, the company said.Revenue advanced 13% to $6.26 billion, ahead of Wall Street's view for $6.16 billion. Comparable store sales increased 10% in the fiscal second quarter, driven by customer traffic. Analysts had modeled for 7.7% comparable sales growth.Ross Stores' stock was up 7% in after-hours trading. It's up 27% this year through market close Thursday.Earlier in the week, Tuist Securities said second-quarter card trends looked the strongest for Ross Stores among off-price retailers. "But comparisons for the company get meaningfully more difficult in (the third quarter)," the brokerage said in an emailed note.For the current quarter, Ross Stores expects EPS to be $1.75 to $1.83 and comparable sales to increase by 6% to 7%. The Street was looking for EPS of $1.75 and same store sales growth of 3.1%.The company forecast EPS between $2.17 and $2.26 for the fiscal fourth quarter and same store sales to climb 4% to 5%. Analysts expect $2.11 and 2.4%, respectively."Despite facing significantly more challenging year-over-year comparisons in the back half, we are raising our outlook for both the third and fourth quarters," Conroy said.Retail giant Walmart (WMT) issued a soft earnings outlook for the ongoing three-month period after its fiscal second-quarter US comparable sales growth decelerated more than the Street expected.Target (TGT) lifted its full-year outlook on Wednesday as tariff refunds helped double the retailer's fiscal second-quarter earnings year over year.On Wednesday, off-price retailer TJX (TJX) raised its full-year earnings outlook , though its third-quarter comparable sales guidance fell short of analysts' estimates. Burlington Stores (BURL) is scheduled to report its second-quarter results on Aug. 27.
TJX (TJX) could see a favorable stock setup as its Marmaxx division recovers from an isolated execution issue, while the company remains positioned to take major market share from department-store peers in the coming years, UBS Securities said in a Thursday note.The company's fiscal Q2 adjusted EPS of $1.22 beat the street's $1.19 estimate, while comparable sales rose 4%, ahead of the 3.3% consensus estimate.Fiscal Q2 results were strong, despite its Marmaxx division missing demand trends and being under-inventoried in stronger categories during the period. UBS said the Marmaxx slowdown was an isolated execution issue, with TJX management referring to it as "self-inflicted" rather than a structural demand or competitive problem.Rebuilding inventory in the impacted Marmaxx categories should drive improvement in "credit card" data through fiscal Q3 and the holiday season, while helping comparable sales accelerate. The brokerage believes the setup for the stock improves as confidence builds that the Marmaxx slowdown was an isolated issue.UBS raised its price target on TJX to $198 from $197 and reiterated its buy rating.Shares of TJX were down 2.5% in Thursday trading.Price: $140.89, Change: $-3.62, Percent Change: -2.50%
TJX Companies (TJX) has an average rating of overweight and mean price target of $177.84, according to analysts polled by FactSet.
TJX Companies (TJX) has an average rating of overweight and mean price target of $177.84, according to analysts polled by FactSet.
(Updates with market moves at the end of the day, and other changes, if any.)Wall Street's main stock indexes rebounded Wednesday after a three-day slump, boosted by gains in the healthcare sector, while investors assessed the minutes of the Federal Reserve's July policy meeting.The S&P 500 and the Dow Jones Industrial Average climbed 0.2% each to 7,707.98 and 53,463.05, respectively. The Nasdaq Composite also gained 0.2%, closing at 26,331.09. Among sectors, healthcare topped the gainers, while industrials led the laggards.Moderna (MRNA) shares surged 177%, the biggest gain on the S&P 500, as a late-stage trial for a skin cancer treatment being developed in partnership with Merck (MRK) yielded positive topline results. Merck jumped nearly 13%, the best performer on the Dow and among the top gainers on the S&P 500.Fed officials acknowledged the need for an interest rate hike if inflation does not ease, minutes from the central bank's July meeting showed Wednesday. At the meeting last month, policymakers left interest rates unchanged in a divided decision, with three regional presidents calling for a hike of 25 basis points."The minutes suggest that other (non-voting) participants are on the same page. And that there is a palpable hawkish sentiment brewing in the committee," BMO said in a note. "But it will take inflation misbehaving to stir this sentiment further. Until then, the Fed will be holding indefinitely."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 lower, with the 10-year yield down 6.5 basis points at 4.64% and the two-year yield falling 0.8 basis point to 4.17%.The Treasury Department said Wednesday that it will boost the size of its government debt repurchases, in what Jefferies Chief US Economist Thomas Simons described as a "surprise" move.The expanded buyback operation, which will focus on 10- to 30-year Treasuries, comes as the 30-year real yields recently broke through 3% for the first time in 24 years, Simons said."It looks like this move will probably help to keep a lid on long-end yields for the near-term," he said.West Texas Intermediate crude oil advanced 0.9% to $85.66 a barrel in Wednesday late-afternoon trade, while Brent rose 0.4% to $91.39.The United Arab Emirates suspended economic ties with Iran amid "regional escalations that undermine regional and international peace and security," UAE Foreign Ministry spokeswoman Afra Al Hameli said on X. The UAE is Iran's second-largest commercial partner, according to a CNN report."Oil prices extended gains for a fourth consecutive session on Wednesday as uncertainty over a resolution to the US-Iran conflict continued to support risk premiums," ING Bank said.In other corporate news, Keysight Technologies (KEYS) slumped 6.3%, among the notable laggards on the S&P 500. Late Tuesday, the electronics test and measurement equipment manufacturer provided a fiscal fourth-quarter earnings outlook above Wall Street's estimates and reported better-than-expected third-quarter results.Target (TGT) lifted its full-year outlook as tariff refunds helped double the retailer's fiscal second-quarter earnings year over year. Its shares jumped 4.3%.TJX (TJX) issued a fiscal third-quarter comparable store sales forecast that fell short of the Street expectations, but raised its full-year earnings outlook. The stock fell 4.2%.Spot gold jumped 4.1% to $4,510.40 per troy ounce, while silver climbed 3.8% to $66.48 per ounce.
Consumer stocks were higher late 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 1.9%.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. Its shares gained 5%.Estee Lauder (EL) shares rallied 18% after the cosmetics maker bumped up its fiscal 2027 operating margin outlook and set sales guidance in line with its preliminary views.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. TJX shares fell 4%.Lululemon Athletica's (LULU) Chief Communications Officer Bill Chandler is leaving the company, Bloomberg reported, citing an internal memo. Chandler's last day at the company will be Sept. 4, according to the report. Lululemon shares were up 1%.
TJX (TJX) has an average rating of overweight and mean price target of $180.56, according to analysts polled by FactSet.Price: $146.25, Change: $-4.60, Percent Change: -3.05%
(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday, supported by gains in the healthcare sector amid a big rally in Moderna (MRNA) shares, while traders awaited minutes of the Federal Reserve's last policy meeting.The S&P 500 was up 0.3% at 7,716.7 after midday Wednesday, while the Nasdaq Composite rose 0.2% to 26,341.6. The Dow Jones Industrial Average advanced 0.2% to 53,436.2. The indexes finished Tuesday trading lower for the third consecutive session.Among sectors, healthcare paced the gainers, while industrials led the laggards.Moderna shares were up 142%, the biggest gain on the S&P 500, as a late-stage trial for a skin cancer treatment being developed in partnership with Merck (MRK) yielded positive topline results. Merck jumped 11%, the best performer on the Dow and among the top gainers on the S&P 500.Keysight Technologies (KEYS) was the worst performer on the S&P 500, down 6.3%. Late Tuesday, the electronics test and measurement equipment manufacturer provided a fiscal fourth-quarter earnings outlook above Wall Street's estimates and reported better-than-expected third-quarter results.In other corporate news, Target (TGT) lifted its full-year outlook as tariff refunds helped double the retailer's fiscal second-quarter earnings year over year. Its shares were up 5.8% intraday.TJX (TJX) issued a fiscal third-quarter comparable store sales forecast that fell short of the Street expectations, but raised its full-year earnings outlook. The stock fell 2.9%.The Fed is scheduled to post minutes of its most recent policy meeting at 2 pm ET, which will be assessed for fresh insights 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 63% 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 mixed intraday, with the two-year yield up 1.3 basis points at 4.19% while the 10-year yield fell 4.6 basis points to 4.7%.The Treasury Department said Wednesday that it will boost the size of its government debt repurchases to at least $4 billion per operation from $2 billion, effective Sept. 9. The buyback operation will focus on 10- to 30-year Treasuries.West Texas Intermediate crude oil was up 2.3% at $86.87 a barrel intraday, while Brent rose 1.7% to $92.59.The United Arab Emirates is halting all trade and financial transactions with Iran "until further notice" amid "regional escalations that undermine regional and international peace and security," UAE Foreign Ministry spokeswoman Afra Al Hameli said on X. The UAE is Iran's second-largest commercial partner, according to a CNN report."Oil prices extended gains for a fourth consecutive session on Wednesday as uncertainty over a resolution to the US-Iran conflict continued to support risk premiums," ING Bank said.Spot gold jumped 3.7% to $4,495.25 per troy ounce, while silver climbed 3% to $65.96 per ounce.
TJX (TJX) has an average rating of overweight and mean price target of $180.56, according to analysts polled by FactSet.Price: $146.07, Change: $-4.79, Percent Change: -3.17%
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%.
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%
TJX (TJX) issued a fiscal third-quarter comparable store sales forecast that fell short of Wall Street expectations on Wednesday, but raised its full-year earnings outlook.For the ongoing quarter, the off-price retailer forecasts comparable sales growth of 2% to 3%, missing FactSet analysts' estimate of a 3.1% gain. The company expects earnings of $1.36 to $1.38 per share compared with the Street's consensus of $1.34.TJX shares fell 1.6% in recent Wednesday trade. They have dropped 3.4% this year."Looking ahead, the third quarter is off to a strong start, and we are seeing improvement at our Marmaxx division to start the quarter," Chief Executive Ernie Herrman said in a statement. "Availability of branded, quality merchandise continues to be outstanding, and we have many initiatives in place to drive sales and traffic in the upcoming fall and holiday shopping seasons."The TJ Maxx and Marshalls' parent elevated its full-year earnings forecast to between $5.31 and $5.36 per share, up from $5.08 to $5.15 previously, while holding its 3% to 4% comparable sales outlook. A FactSet survey expects $5.22 in per-share profit and a 3.8% gain in same-store sales.Earnings per share for the three months through Aug. 1 expanded to $1.36 from $1.10 a year ago as revenue rose 5% to $15.18 billion. Results beat Street estimates of $1.18 in profit on $15.16 billion in net sales. Same-store sales climbed 4%, topping the 3.3% market forecast.Marmaxx's net sales grew annually by 3% to $9.11 billion, the slowest second-quarter year-over-year increase among all divisions, and missed Wall Street's expectations of $9.27 billion. HomeGoods and TJX International grew 10% and 11%, respectively."While sales at Marmaxx were below our expectations, HomeGoods, TJX Canada, and TJX International all delivered terrific comp sales increases of 6% to 7%," Herrman said.Last week, UBS Securities projected that TJX would meet fiscal second-quarter targets and raise its full-year outlook on steady sales."We believe TJX had Ok sales momentum through July, and we believe this sets TJX up to deliver an in-line (second-quarter) EPS report," UBS said.On Wednesday, Target (TGT) lifted its full-year adjusted earnings outlook, boosted by tariff refund benefits, while home-improvement retailer Lowe's (LOW) lowered its full-year guidance to the bottom end of its previously issued forecast.Discount retailers Dollar Tree (DLTR) and Dollar General (DG) are scheduled to report their respective fiscal second-quarter results Aug. 27.Price: $148.64, Change: $-2.21, Percent Change: -1.47%
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.
(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.
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.
(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.
(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.
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