Wire
TJX Keeps Quarterly Dividend at $0.48 a Share, Payable Sept. 3 to Holders of Record Aug. 13
TJX Keeps Quarterly Dividend at $0.48 a Share, Payable Sept. 3 to Holders of Record Aug. 13
$TJX
$TJX
23 stories mentioning TJX
Every FINWIRES story that references TJX, newest first.
Wire
TJX Positioned for Continued Market Share Gains From Department Stores, UBS Says
TJX (TJX) is well positioned to continue taking market share from department stores over the next several years, UBS Securities said in a note Tuesday.The analysts said the company's growth potential is based on newer businesses such as HomeSense and Sierra, as well as international expansion, including the recent launch of the TK Maxx banner in Spain. UBS also forecasts about 10.5% annual earnings per share growth for TJX over the next five years.UBS's ninth annual US Off-Price and Department Store Consumer Survey reinforces this positive view, the analysts said, adding that 71% of consumers associate the brand with "good value for money," compared with roughly 47% for department store peers such as Macy's (M)."This roughly 24 percentage point perception gap is decisive - it demonstrates TJX owns the core consumer decision driver, underpinning sustained traffic capture and reinforcing a durable competitive moat that should support ongoing share gains from Department Stores," the analysts added.The investment firm expect TJX's earnings per share to be $5.40 in fiscal 2027, compared with consensus estimates of $5.23, $6 in fiscal 2028 versus consensus of $5.76, and $6.65 in fiscal 2029 versus consensus of $6.30.UBS has a buy rating and a $197 price target on TJX.Price: $163.65, Change: $+3.90, Percent Change: +2.44%
$TJX
US Markets
Ollie's Bargain Lifts Full-Year Earnings Guide, Trims Revenue Outlook
Ollie's Bargain Outlet (OLLI) raised its full-year earnings outlook on Wednesday, while the discount retailer trimmed its revenue expectations.The company raised its fiscal 2026 adjusted earnings guidance to between $4.45 and $4.55 per share from $4.40 to $4.50 previously projected. Analysts polled by FactSet expect $4.44 per share.Ollie's revenue is pegged at $2.98 billion to $3 billion, compared with the prior outlook that called for $2.985 billion to $3.013 billion. Wall Street is modeling for $3 billion."We are cognizant of the state of the consumer right now," Chief Financial Officer Robert Helm said during an earnings call, according to a FactSet transcript. "They are prioritizing their spending around their needs and driving a little less if they can. Weather is still a bit of a lingering factor and we don't have the benefit of higher tax refunds to offset some of these pressures in the second quarter."Gasoline prices in the US have surged as the Iran war pushed crude oil costs higher due to the near-complete closure of the Strait of Hormuz.Dollar General (DG), Dollar Tree (DLTR), TJX (TJX) and Burlington Stores (BURL) recently raised their full-year earnings guidance.Shares of Ollie's rose 0.9% intraday Wednesday. The stock is down 27% so far this year.For the first quarter ended May 2, adjusted EPS rose to $0.91 from $0.75 a year earlier, ahead of the Street's $0.87 estimate. Sales jumped 14% to $658.9 million, but fell short of the FactSet consensus of $661.7 million.Comparable sales grew 1.7%, decelerating from the prior-year quarter's 2.6% rise but topping analysts' 1.6% growth view."Our comp target remains a positive 2% for the full fiscal year," Helm told analysts. "Our current trends are running below this level, primarily reflecting continued weather volatility and ongoing pressure on the lower income consumer."Wall Street expects Ollie's full-year comparable sales to increase 1.7%.Price: $79.44, Change: $+0.19, Percent Change: +0.24%
$BURL$DG$DLTR$OLLI$TJX
US Markets
Softline Retailers Likely to Benefit From US Data Center Boom, UBS Says
US softline retailers are expected to take advantage of an ongoing data center construction boom, with Abercrombie & Fitch (ANF), Urban Outfitters (URBN), and Macy's (M) among those likely to see "outsized" benefits, UBS Securities said in a note e-mailed Monday.US commercial data center capacity has increased at a nearly 30% to 40% annual pace over the last two years, with installed capacity seen rising 20% to 30% annually in the near term, the brokerage said, citing industry experts.The data center construction boom is expected to lift the economy and boost the consumer spending backdrop for apparel and footwear in the concerned regions. However, the data center buildout is not expected to be distributed evenly across the country, UBS analysts Jay Sole and Mauricio Serna said in the note to clients."We believe retailers with a high percentage of stores located in areas with strong data center growth will benefit more than retailers with less exposure to these areas will," the analysts wrote.Abercrombie & Fitch, Urban Outfitters, Macy's, and Steven Madden (SHOO) are among the retailers poised to see "outsized" benefits, Sole and Serna said. On the other hand, Kohl's (KSS), Bath & Body Works (BBWI), Buckle (BKE), Boot Barn (BOOT), and American Eagle Outfitters (AEO) have "the most relevant low exposure," the duo wrote.Among off-price retailers, Ross Stores (ROST) has the "most relevant high exposure," while TJX (TJX) is on the other side of the spectrum, according to the note."While some regions have embraced data centers, other localities have not," UBS said. "Some municipalities reject data center proposals because the long-term local economic payoff is perceived as limited. They also have concerns about resource and infrastructure strain."The brokerage expects all softline stocks to benefit from their use of AI, as well as the technology's impact on the overall economy."Softline companies are taking AI very seriously and AI is likely already having a positive impact on the industry's financial performance," Sole and Serna said. "We believe the meaningful returns companies are already and will continue to achieve on their AI investments will drive upside (earnings-per-share) surprises."Price: $75.30, Change: $-1.92, Percent Change: -2.49%
$AEO$ANF$BBWI$BKE$BOOT$KSS$M$ROST$SHOO$TJX$URBN
Wire
Argus Research Lifts TJX Price Target to $187 From $182, Maintains Buy Rating
TJX (TJX) has an average rating of overweight and mean price target of $180.17, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $158.91, Change: $+0.64, Percent Change: +0.40%
$TJX
Research
Research Alert: CFRA Maintains Sell Opinion On Shares Of The Tjx Companies
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month price target by $11 to $141, based on 27.1x our FY 27 EPS estimate and above the company's three-year average forward P/E multiple of 26.6x, reflecting our view the company is well positioned to win dollars in a soft macroeconomic backdrop for low- and middle-income consumers. We raise our FY 27 and FY 28 EPS estimates by $0.15 to $5.20 and $0.10 to $5.35, respectively. We continue to believe the company is deserving of an above-peer multiple due to management's consistent execution, the company's position in off-price, and growth profile compared to other retailers. The company posted strong FQ1 results and raised its full-year guidance as well as its buyback expectations. Our opinion is based on the elevated valuation at 31x consensus EPS estimates for FY 27, which is above the company's guidance, as well as elevated oil prices that could pressure margins over the course of the year. We remain negative on the stretched valuation and elevated earnings expectations.
$TJX
Wire
TJX Delivers 'Very Solid' Q1 Results, May Capture Major Market Share, UBS Securities Says
TJX (TJX) posted "very solid" fiscal Q1 results and the company is likely to take major market share from competitors in the department store space over the next few years, UBS Securities said in a note Wednesday.The company's new businesses like HomeSense and Sierra Trading Post as well as its international operations, particularly its entry into Spain through its TK Maxx banner, show "significant potential," the investment firm said.UBS said it expects TJX to deliver an about 10.5% earnings per share compound annual growth rate over five years.The firm highlighted that in its fiscal Q1 report, TJX raised its fiscal 2027 EPS guidance to between $5.08 and $5.15, from the $4.93 to $5.02 range previously, reflecting a better pre-tax margin outlook despite higher fuel costs.UBS reiterated its buy rating on TJX and lifted the price target to $197 from $193.Shares of TJX were down more than 1% in Thursday trading.Price: $156.90, Change: $-2.31, Percent Change: -1.45%
$TJX
Wire
TJX Uses Marketing, Merchandise, Store Experience to Support Comp Strength, Share Gains, BofA Says
TJX Companies (TJX) has strategies across marketing, merchandise, and store experience to ensure comparable-sales strength as well as continued share gains, BofA said in a Thursday research note.The company is using marketing to target a broad customer demographic, including younger shoppers by focusing on digital media, with this year set to feature fresh campaigns and partnerships across banners and channels like streaming, BofA said.TJX Companies also continues to see "outstanding" product availability, which is improving further as the company scales. Additionally, management remains focused on improving the in-store experience with investments in payroll and training, according to the note.Looking ahead, BofA said it is modeling gross margin to rise 20 basis points in Q2 and 30 basis points in fiscal 2027, including 20 basis points of pressure in Q2 through Q4 from fuel surcharges. Additionally, lower fuel costs will benefit margins relatively quickly given the company's fast inventory turnaround, BofA said.BofA raised its earnings per share estimates to $5.15 from $5.01 for 2027, $5.56 from $5.48 for 2028, and $6.09 from $6.00 for 2029.BofA reiterated its buy rating with a price target of $175.Price: $157.54, Change: $-1.67, Percent Change: -1.05%
$TJX
US Markets
Equity Markets Rebound Following Fed Minutes; Yields Tumble
US stocks rebounded Wednesday as traders parsed minutes of the Federal Reserve's latest monetary policy meeting, while Treasury yields slid.The Nasdaq Composite rose 1.5% to 26,270.4, while the S&P 500 advanced 1.1% to 7,433, both rising after a three-day fall. The Dow Jones Industrial Average added 1.3% to 50,009.4. Most sectors ended in the green, led by consumer discretionary, while energy saw the biggest drop.Fed officials flagged the possibility of higher interest rates if the Middle East conflict drags on and keeps inflation above the 2% goal, minutes from the central bank's April meeting showed.Meeting participants generally determined that elevated inflation, combined with uncertainty around the duration and impact of the Iran war, could justify holding rates for longer than previously anticipated, the meeting minutes showed.However, majority of Fed officials pointed out "that some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%.""The discussion at the April meeting suggests the (Federal Open Market Committee) is becoming increasingly worried about the inflation outlook," Sal Guatieri, senior economist at BMO Capital Markets, said in a report. "While it is in no rush to raise rates, that possibility will only grow if inflation remains stubbornly high."Treasury yields plunged in Wednesday late-afternoon trade, with the 10-year yield rate declining 9.6 basis points to 4.58% and the two-year rate retreating 7.4 basis points to 4.05%.Bond yields have surged amid mounting concerns about inflation. Higher yields drove a sell-off in stocks on Tuesday, according to Macquarie."The state of play now and following the end of earnings season, is that stock indexes are likely to remain sensitive to what happens to long-term yields," Macquarie said in note Wednesday. "Should yields go higher (for whatever reason), stocks will slip further."West Texas Intermediate crude oil was last down 5.5% at $98.47 a barrel, while Brent fell 5.6% to $105.03.US President Donald Trump said on Wednesday that negotiations with Iran had reached the final stages, though he warned of further attacks if Tehran backs out, according to a Reuters report.Shares of airlines and cruise operators were notable gainers on Wednesday, with United Airlines (UAL) up 10%, the top gainer on S&P 500. Delta Air Lines (DAL) jumped 9.4%, among the best performers on the index, along with Carnival (CCL) and Norwegian Cruise Line (NCLH).In other company news, Hasbro (HAS) reported a first-quarter operating loss for the consumer products division even as the toymaker delivered stronger-than-expected results at the consolidated level. The stock slid 8.8%, the worst performer on the S&P 500.Target (TGT) shares fell 3.9%, among the steepest declines on the S&P 500. The retailer lifted its full-year sales growth outlook as it recorded higher-than-expected fiscal first-quarter results.TJX (TJX) raised its full-year outlook after posting stronger-than-expected fiscal first-quarter results, with comparable sales rising across all segments. The stock climbed 5.6%.Gold was last up 0.8% at $4,549.30 per troy ounce, while silver rose 1.8% to $76.48 per ounce.
Dow JonesNasdaq CompositeS&P 500$CCL$DAL$HAS$NCLH$NVDA$TGT$TJX$UAL
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
US Markets
Equities Higher Ahead of Fed Minutes, Nvidia Earnings
US benchmark equity indexes were higher intraday as traders awaited minutes of the Federal Reserve's last policy meeting and tech bellwether Nvidia's (NVDA) results.The Nasdaq Composite was up 1.2% at 26,185.8 after midday Wednesday, while the Dow Jones Industrial Average advanced 1.1% to 49,894.5. The S&P 500 rose 0.9% to 7,417.3. Among sectors, consumer discretionary paced the gainers, while energy saw the biggest drop.The Federal Open Market Committee is scheduled to publish minutes of its most recent policy meeting at 2 pm. Last month, the central bank held interest rates steady, saying the Middle East conflict is fueling uncertainty around the US economic outlook.Three FOMC officials opposed including an easing bias in the April monetary policy statement."The minutes will no doubt offer further insight into the conversation and discussion around the latest statement language, which led to a plethora of dissents, as well as the committee's assessment of current conditions amid the ongoing international conflict and the outlook for policy and rates in the coming months," Stifel said in a note.Shares of Nvidia were up 1.8% intraday, with the chipmaker scheduled to report its fiscal first-quarter results after the closing bell.Nvidia's sales are expected to outperform market projections, BofA Securities said in a note e-mailed Tuesday."Markets are still supported by (artificial intelligence) expectations, but higher yields are putting pressure on expensive growth stocks, making Nvidia's earnings later today one of the week's most important catalysts for the broader technology sector," Saxo Bank said in a report Wednesday.Bond yields have surged amid mounting concerns about inflation. Higher yields drove a sell-off in stocks on Tuesday, according to Macquarie.Treasury yields were down intraday Wednesday, with the 10-year yield rate declining 7.9 basis points to 4.59% and the the two-year rate retreating 5.7 basis points to 4.07%."The state of play now and following the end of earnings season, is that stock indexes are likely to remain sensitive to what happens to long-term yields," Macquarie said in note Wednesday. "Should yields go higher (for whatever reason), stocks will slip further."West Texas Intermediate crude oil declined 6.1% to $97.80 a barrel intraday, while Brent fell 6% to $104.60.US President Donald Trump said on Wednesday that negotiations with Iran had reached the final stages, though he warned of further attacks if Tehran backs out, according to a Reuters report."Either have a deal or we're going to do some things that are a little bit nasty, but hopefully that won't happen," Trump was quoted as saying in the report.In other company news, Hasbro (HAS) reported a first-quarter operating loss for the consumer products division even as the toymaker delivered stronger-than-expected results at the consolidated level. The stock was down 8.3% intraday, the worst performer on the S&P 500.Target (TGT) shares fell 3.8%, among the steepest declines on the S&P 500. The retailer lifted its full-year sales growth outlook as it recorded higher-than-expected fiscal first-quarter results.TJX (TJX) raised its full-year outlook after posting stronger-than-expected fiscal first-quarter results, with comparable sales rising across all segments. The stock was advancing by 6.2%.Gold was up 0.6% at $4,536.50 per troy ounce, while silver rose 1.4% to $76.24 per ounce.
Dow JonesNasdaq CompositeS&P 500$HAS$NVDA$TGT$TJX
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
Wire
JPMorgan Adjusts TJX Companies Price Target to $176 From $174, Maintains Overweight Rating
JPMorgan Adjusts TJX Companies Price Target to $176 From $174, Maintains Overweight Rating
$TJX
US Markets
TJX Raises Full-Year Outlook After First Quarter Tops Expectations
TJX (TJX) raised its full-year outlook Wednesday after posting stronger-than-expected fiscal first-quarter results, with comparable sales rising across all segments.The off-price retailer expects per-share earnings of $5.08 to $5.15 in fiscal 2027, up from its prior forecast of $4.93 to $5.02. The parent of TJ Maxx and Marshalls projects 3% to 4% comparable-sales growth, compared with its earlier 2% to 3% view. Analysts polled by FactSet project EPS of $5.13 and same-store sales growth of 3.4%.In the quarter ended May 2, EPS rose to $1.19 from $0.92 a year earlier as net sales increased 9% to $14.32 billion. Analysts expected EPS of $1.02 on revenue of $14.02 billion. Comparable sales increased 6%, topping the 4.1% consensus."Sales, pretax profit margin, and earnings per share were all well above our plan," CEO Ernie Herrman said in a statement. "All of our divisions delivered strong comparable sales growth and increases in customer transactions."TJX shares rose 5.5% in Wednesday trading. They have gained 3.5% this year.The updated full-year outlook assumes that higher fuel costs will persist through 2026, weighing on margins, the company said.Crude prices have remained elevated since US and Israeli strikes on Iran in late February disrupted shipments through the Strait of Hormuz, a key chokepoint that remains largely shut amid stalled negotiations between Washington and Tehran."The second quarter is off to a good start, and we are excited about the initiatives we have planned to keep driving sales and attract consumers to our retail banners," Herrman said.In the current quarter, the company projected EPS of $1.15 to $1.17 and comparable sales growth of 2% to 3%. Analysts expected EPS of $1.17 and a 3.5% increase in same-store sales.Price: $158.99, Change: $+8.31, Percent Change: +5.51%
$TJX
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
Research
Research Alert: The Tjx Companies: Q1 Fy 27 Beats Estimates; Raises Full-year Guidance
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:TJX delivered Q1 FY 27 (Jan.) normalized EPS of $1.19 (+29% Y/Y), $0.17 above consensus on net sales of $14.3B (+9% Y/Y), $317M above estimates. The off-price retailer demonstrated broad-based strength with consolidated comparable sales growth accelerating to 6% from 3% in the prior year, exceeding management expectations across all divisions. Pretax profit margin expanded 170 bps Y/Y to 12.0% due to gross margin improvement to 31.3% (+180 bps) from higher merchandise margins and expense leverage. TJX raised FY 27 guidance with comparable sales growth outlook increased to 3%-4%, pretax margin to 11.9%-12.0%, and EPS expectations to $5.08-$5.15. The company increased share buyback range to $2.75B-$3.0B, demonstrating continued capital return commitment. We are impressed with continued momentum across brands and improved profitability, though less impressed with raised guidance already reflected in consensus estimates. Shares trade at 31x FY 27 consensus, well above the three-year average forward P/E of 26.6x.
$TJX
Sectors
Sector Update: Consumer
Consumer stocks were mixed premarket Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) slightly declining and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.5%.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.
$TJX
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
US Markets
Equity Markets Mixed as Trump Aborts Plan to Attack Iran
US equity markets closed mixed Monday as President Donald Trump said the US was postponing a plan to attack Iran on Tuesday.The Nasdaq Composite declined 0.5% to 26,090.7, while the Dow Jones Industrial Average rose 0.3% to 49,686.1. The S&P 500 closed 0.1% lower at 7,403.1. Most sectors were in the green, led by energy, while technology saw the steepest decline.Trump said the US will hold off on its planned military attack against Iran that was previously scheduled for Tuesday, according to his social media post on Monday.Trump said Middle Eastern leaders, including Saudi Arabia Crown Prince Mohammed bin Salman, asked the US president to call off the attack amid "serious" ongoing negotiations to end the Washington-Tehran conflict.Trump, however, cautioned that the US will "go forward with a full, large scale assault of Iran" if a deal is not reached.Brent crude fell 0.4% to $108.85 per barrel in Monday late-afternoon trade, while West Texas Intermediate crude was last up 0.9% at $106.34 per barrel.Trump's latest rhetoric follows reports that Iran had provided an updated proposal for a deal to end the war. The White House indicated it doesn't reflect a meaningful improvement from a previous offer, Axios reported Monday, citing a senior US official and a source briefed on the matter.The Strait of Hormuz -- the world's most important chokepoint for crude flows -- remains largely shut as tensions between the US and Iran continue, with no end in sight."Progress on US-Iran peace talks continues to be immaterial, with both parties expressing a willingness to resume overt hostilities if the talks fail," Tudor Pickering Holt Analyst Matt Portillo said in a note sent earlier in the day.US Treasury yields were little changed in Monday late-afternoon trade, with the 10-year rate at 4.59% and the two-year rate at 4.07%.Nvidia (NVDA) shares fell 1.3%, the second-worst performer on the Dow. The chipmaking giant is expected to exceed Wall Street's first-quarter estimates and guide above consensus amid positive data points, Wedbush Securities said.Nvidia is scheduled to release its latest quarterly results after the markets close Wednesday.Retail giants Walmart (WMT), Home Depot (HD), TJX (TJX), Lowe's (LOW) and Target (TGT) are also expected to report this week. Home Depot and Lowe's are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a note.NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in all-stock deal to create the largest regulated electric utility in the world. Dominion shares jumped 9.4%, the second-biggest gainer on the S&P 500, while NextEra fell 4.6%.In economic news, US homebuilder confidence unexpectedly rose this month despite elevated mortgage rates, macro uncertainty and continued affordability challenges, data from the National Association of Home Builders and Wells Fargo showed."Soft homebuilder sentiment is consistent with our view that housing starts will mostly move sideways for the next couple of quarters before starting to edge up slightly around year-end, when we expect mortgage rates to be lower as the (Federal Reserve) implements the first of two rate cuts we expect," Oxford Economics said in a note.Gold was up up 0.1% at $4,564.40 per troy ounce in Monday late-afternoon trade, while silver rose 0.3% to $77.80 per ounce.
Dow JonesNasdaq CompositeS&P 500$D$HD$LOW$NEE$NVDA$TGT$TJX$WMT
Wire
Equities Mixed Intraday, Oil Rises as Traders Track Middle East Developments
US benchmark equity indexes were mixed after midday Monday as oil prices rose amid new developments in the Middle East conflict, while traders braced for Nvidia's (NVDA) latest financial results due out later in the week.The Nasdaq Composite was down 0.7% at 26,049.9 intraday, while the S&P 500 shed 0.3% to 7,387.2. The Dow Jones Industrial Average was 0.1% higher at 49,571.2. Most sectors were in the green, led by energy, while technology saw the steepest decline.West Texas Intermediate crude was up 1.5% at $107.01 per barrel, while Brent rose 1.4% to $110.84.Iran has provided an updated proposal for a deal to end the war with the US, though the White House indicated it doesn't reflect a meaningful improvement from a previous offer and is insufficient, Axios reported Monday, citing a senior US official and a source briefed on the matter.The Strait of Hormuz -- the world's most important chokepoint for crude flows -- remains largely shut as tensions between the US and Iran continue, with no end in sight. Over the weekend, US President Donald Trump said the "clock is ticking" for Iran to strike a deal.US Treasury yields were mixed intraday Monday, with the 10-year rate up 1.2 basis points at 4.61% and the two-year rate little changed at 4.08%.Nvidia shares were down 1.8%, the second-worst performer on the Dow. The chipmaking giant -- which is scheduled to release its latest quarterly results after the markets close Wednesday -- is considered by many investors as the "scoreboard" for the artificial intelligence boom, Saxo Bank said in a note Monday."The company does not only need to show that demand remains strong. It may need to show that demand is still accelerating, margins remain resilient, competition risk is contained, supply constraints are manageable, and China risk is manageable," Saxo said. "That is a high bar. And when the bar is high, even good news can create volatility."Retail giants Walmart (WMT), Home Depot (HD), TJX (TJX), Lowe's (LOW) and Target (TGT) are also expected to report this week.Home Depot and Lowe's are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a note.NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in all-stock deal to create the largest regulated electric utility in the world. Dominion shares were up 8.6% intraday Monday, the second-biggest gainer on the S&P 500, while NextEra fell 6.6%.In economic news, US homebuilder confidence unexpectedly rose this month despite elevated mortgage rates, macro uncertainty and continued affordability challenges, data from the National Association of Home Builders and Wells Fargo showed."Soft homebuilder sentiment is consistent with our view that housing starts will mostly move sideways for the next couple of quarters before starting to edge up slightly around year-end, when we expect mortgage rates to be lower as the (Federal Reserve) implements the first of two rate cuts we expect," Oxford Economics said in a note.Gold was down 0.2% at $4,553.40 per troy ounce, while silver fell 0.2% to $77.41 per ounce.
Dow JonesNasdaq CompositeS&P 500$D$HD$LOW$NEE$NVDA$TGT$TJX$WMT
Showing 1-20 of 23