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Listed here are 5 essential factors capitalists require to acknowledge to start the buying and selling day:
1. Lucky quantity 8
2. Lowe’s reduces outlook
An out of doors sight of a Lowe’s dwelling enhancement store on the Buckhorn Plaza shopping for heart.Â
Paul Weaver|Lightrocket|Getty Photographs
Lowe’s beat its second-quarter earnings expectations Tuesday morning, but missed on sales. The home improvement retailer also cut its full-year outlook, citing weakening spending on do-it-yourself projects and a “pressured macroeconomic environment.” It said it expects comparable sales to fall by 3.5% to 4%, worse than its prior forecast for a decline of 2% to 3%. The company also said it now expects total sales of $82.7Â billion to $83.2 billion for the full year, compared with the $84 billion to $85 billion range it previously expected.
3. GM layoffs
The GM logo is pictured at the General Motors Assembly Plant in Ramos Arizpe, state of Coahuila, Mexico October 7, 2019.Â
Daniel Becerril | Reuters
General Motors is laying off more than 1,000 salaried employees across the globe in the company’s software and service department. That includes about 600 jobs at the automaker’s tech campus near Detroit. The layoffs â which represent about 1.3% of the 76,000 global salaried workforce at the end of last year â came after a review to streamline the unit’s operations, CNBC’s Michael Wayland reported Monday. Automakers, including GM, have been trying to reduce costs amid growing fears of an industry downturn.
4. SEC fines Icahn
Carl Icahn speaking at Delivering Alpha in New York on Sept. 13, 2016.
David A. Grogan | CNBC
5. Swan song
US President Joe Biden speaks on the first day of the Democratic National Convention (DNC) at the United Center in Chicago, Illinois, on August 19, 2024.Â
Andrew Caballero-Reynolds | AFP | Getty Images
President Joe Biden passed the torch to Vice President Kamala Harris on the first night of the Democratic National Convention in Chicago, touting his accomplishments but saying “I love the job, but I love my country more.” His nearly hourlong speech was the capstone of the first night of the DNC, which will end Thursday with Harris officially accepting her party’s presidential nomination. Monday’s agenda also featured speeches from former Secretary of State Hillary Clinton and United Auto Workers president Sean Fain, who fired up the crowd. Harris made a surprise appearance earlier in the night, thanking Biden for his “historic leadership.”
â CNBC’s Alex Harring, Hakyung Kim, Melissa Repko, Michael Wayland, Rohan Goswami, Dan Mangan, Kevin Breuninger, Christina Wilkie, Rebecca Picciotto and Josephine Rozzelle contributed to this report.
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