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Listed below are 5 important factors capitalists require to acknowledge to start the buying and selling day:
1. Small momentum
The S&P 500 and the Nasdaq Composite managed to hold on to their upward momentum in Monday’s trading session. The S&P 500 ended flat, up only 0.23 points, at 5,344.39, after moving back and forth between gains and losses all day. The Nasdaq, meanwhile, advanced 0.21% thanks to Nvidia climbing 4%. The Dow Jones Industrial Average was the outlier, pulling back 140 points, or 0.36%. Investors will be watching the producer price index â a measure of wholesale prices that’s due out at 8:30 a.m. ET. A Dow Jones consensus estimate expects a monthly gain of 0.2% in July, in line with the previous month’s reading. Follow live market updates.
2. Retail earnings
Customers shop at Home Depot on March 14, 2024 in Arlington, Virginia.Â
Sha Hanting | China News Service | Getty Images
Home Depot kicked off a wave of retail earnings Tuesday by warning about a cautious consumer. The home improvement retailer beat quarterly expectations when it reported earnings before the bell, but it also cautioned that sales will be weaker than expected in the second half of the year. The company said it expects full-year comparable sales to decline by 3% to 4% compared with the prior fiscal year, worse than the decline of 1% it had previously projected. “Pros tell us that, for the first time, their customers aren’t just deferring because of higher financing costs,” Chief Financial Officer Richard McPhail told CNBC. “They’re deferring because of a sense of greater uncertainty in the economy.”
3. Inflation anticipation
A shopper carries a Lululemon bag in the Georgetown neighborhood of Washington, DC, US, on Tuesday, July 30, 2024. Consumers have continued to spend and make major purchases, which is one of the key reasons economists are hopeful the Fed can tame inflation without sparking a recession. Photographer: Tierney L. Cross/Bloomberg via Getty Images
Tierney L. Cross | Bloomberg | Getty Images
4. Under pressure?
A worker tying copper wire rods before loading them onto a truck in Huai’an, in China’s Jiangsu Province.
Vcg | Visual China Group | Getty Images
5. Lifting anchors
A customer enters a Macy’s store that is set to close at Bay Fair Mall on February 27, 2024 in San Leandro, California.Â
Justin Sullivan | Getty Images
Macy’s plan to close roughly 150 of its namesake stores in the coming years will set off a wave of changes at malls. Its stores are anchors, with huge footprints that range between 200,000 and 225,000 square feet, that are often hard to fill with another large retailer. Some malls are turning them into smaller retail spaces, but others are getting creative with how they fill the gaps. At former Macy’s locations that have already closed, malls have tacked on apartments, demolished the building for a completely new development or converted the space into warehouses, grocery stores, movie theaters and health-care facilities. “There’s a collective challenge to get people off the couch and out of the house,” said Adam Tritt, chief development officer for Brookfield Properties’ U.S. retail portfolio. Read more about the changes coming to shopping malls here.
â CNBC’s Brian Evans, Melissa Repko, Spencer Kimball and Jeff Cox contributed to this report.
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