Updated 2 min read
In this article:
US stock futures were broadly steady on Tuesday as Home Depot’s (HD) led out this week’s results from retail giants, watched as a health check on the economy as Wall Street weighs odds of interest-rate cuts.
Dow Jones Industrial Average futures (YM=F) edged up 0.1%, while S&P 500 futures (ES=F) hovered below the flat line. Contracts on the tech-heavy Nasdaq 100 (NQ=F) were also little changed, continuing Wall Street stocks’ muted start to the week.
A steady march of earnings reports from retail giants began with Home Depot (HD) results before the bell. Its profit slightly fell short of expectations in the second quarter, but sales ticked higher amid signs of an end to the US housing market slump. The home improvement chain’s shares slipped after the release, but recovered some ground as investors parsed the results.
Target (TGT) will share its earnings on Wednesday, followed by Walmart (WMT) on Thursday. Taken together, the group’s results will provide insight into how companies and consumers are faring as Trump’s tariffs kick in. Areas of growth or stagnation are also in high focus, as shifts in buying choices can reflect shoppers financial confidence.
Read more: The latest on Trump’s tariffs
This week, investors are counting down to Friday, when Federal Reserve Chair Jerome Powell will deliver remarks at the Jackson Hole symposium in Wyoming. The event often signals the latest in central bank policymakers’ views on interest rates, and Powell’s speech could be his last as Fed chair.
Clues as to what may come next at the Fed’s September policy meeting will be in focus as stubborn inflation and a faltering job market make officials’ next move a particularly tricky one.
Meanwhile, President Trump continued to press for further Ukraine talks, reportedly asking Russian President Vladimir Putin to meet with Volodymyr Zelensky. European leaders rallied around the Ukrainian president at his meeting with Trump on Monday, but markets hit pause as uncertainty loomed over his country’s fate.
LIVE 7 updates
-
A suite of retail data is set to decode the resilient consumer
American shoppers have kept the engine of the nation’s GDP humming along. But it’s worth pinpointing where all that resilience is coming from, as Yahoo Finance’s Hamza Shaban lays out in today’s Morning Brief.
-
Medtronic appoints 2 new board members after Elliott takes a stake
Shares of medical device maker Medtronic (MDT) fell 3% premarket after the company announced it would add two new independent directors to its board.
Veteran med-tech executives John Groetelaars and Bill Jellison were appointed, the company said. The change comes as activist investor Elliott Investment Management has become one of its largest shareholders.
Additionally, the board formed two new committees, helmed by CEO Geoff Martha. The Growth Committee will evaluate M&A opportunities, R&D investments, and potential divestitures. The Operating Committee will focus on margin expansion and operational efficiency.
-
Home Depot slightly misses Wall Street’s mark in Q2 earnings, reiterates guidance
Home Depot (HD) released its second-quarter earnings on Tuesday. The retailer’s stock fell about 2% premarket before recovering.
Yahoo Finance’s senior reporter Brooke DiPalma looks at the latest from the home improvement retailer and how the US housing slump has impacted its bottom line.
-
Wall Street sees stock market rotation charting ‘healthiest path’ to new highs
The stock market’s record rally is showing early signs of broadening beyond Big Tech as investors rotate into lagging sectors, but strategists warn its durability hinges on earnings and Fed policy.
Yahoo Finance’s Allie Canal reports:
-
Premarket trending tickers: Palo Alto, Nu holdings and Intel
Here’s a look at some of the top stocks trending in premarket trading:
Palo Alto Networks (PANW) shares rose 5% in premarket trading on Tuesday after the Santa Clara cybersecurity firm forecast fiscal 2026 revenue and profit above analysts’ estimates, citing growing demand for its AI powered cybersecurity solutions.
Digital banking group Nu holdings (NU) stock rose 2% before the bell after Morgan Stanley (MS) analyst Jorge Kuri reiterated a Buy rating on the company and set a price target of $18.00.
Intel (INTC) stock rose premarket more than 6% after Softbank Group (9984.T) announced a $2 billion capital injection into the US chipmaker that is currently in the middle of a turnaround effort.
-
Good morning. Here’s what’s happening today.
-
Intel gets one new investor… for now
With chatter today that the government is nearing taking a 10% stake in Intel, I guess I shouldn’t be shocked that the bruised tech giant is hoping to gain some Street cred on its future product roadmap by tapping SoftBank and Masa for cash. Embattled Intel CEO Lip-Bu Tan also gains a Trump friend in Masa.
SoftBank will invest $2 billion in Intel at $23 a share.
“Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation. This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role,” SoftBank chair and CEO Masayoshi Son said in a statement.
Intel CEO Lip-Bu Tan added, “We are very pleased to deepen our relationship with SoftBank, a company that’s at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership. Masa and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment.”
It’s still something to see this unfolding at Intel, which has billions in cash and is by no means in a financial death spiral. Given Masa’s close ties to the Trump administration, I suspect the government stake announcement could come next. None of this is a good signal on Intel’s turnaround, bottom line.
A Trump administration spokesperson didn’t return my request for comment.
