Stock market today: Dow, S&P 500, Nasdaq mixed as Home Depot leads out big retail earnings

Opendoor Technologies (OPEN) stock rallied 6% at the market open before paring gains on Tuesday morning as the company continues its executive search following CEO Carrie Wheeler’s departure, Yahoo Finance’s Jake Conley reports.

Conley writes:

Read the full story here.

Nexstar Media Group (NXST) is set to expand its dominance in US broadcasting with a $6.2 billion acquisition of Tegna Inc. (TGNA), a deal that will create the nation’s largest local TV station group.

The transaction, which includes Tegna’s net debt and fees, is expected to close in the second half of 2026 pending regulatory approvals. The Wall Street Journal first reported earlier this month that Nexstar was in advanced talks to acquire Tegna.

Shares of Nexstar jumped over 6% shortly after the opening bell on Tuesday, while Tegna shares rose around 4% on the news.

According to the release, the combination will create a leading local media company with 265 full-power television stations in 44 states and Washington, D.C., covering 132 of the nation’s 210 television markets and reaching about 80% of US TV households. The new entity will hold stations in nine of the top 10 designated market areas (DMAs) and 41 of the top 50.

Nexstar Chairman and CEO Perry Sook said the merger reflects both companies’ commitment to local broadcasting and builds on Nexstar’s “record of growth” through acquisitions, which includes its 2019 purchase of Tribune Media and its majority stake in The CW network in 2022.

Sook added that deregulatory initiatives from the Trump administration have created an opportunity for broadcasters “to expand reach, level the playing field, and compete more effectively with the Big Tech and legacy Big Media companies.”

The companies expect about $300 million in annual net synergies and project the transaction will be more than 40% accretive to Nexstar’s free cash flow in the first 12 months post-closing.

Citi analyst Jason Bazinet said the transaction adds about $25 per share of M&A value to Nexstar’s outlook. He raised his price target on the stock to $218 from $186 as a result, while maintaining a Neutral rating.

US stocks were mixed on Tuesday.

The Dow Jones Industrial Average (^DJI) edged up 0.1%, while the S&P 500 (^GSPC) fell about 0.2%. The tech-heavy Nasdaq Composite (^IXIC) declined 0.4%, continuing Wall Street stocks’ muted start to the week.

Home Depot (HD) led out this week’s results from retail giants, with its earnings report on Tuesday showing a return to consistent same-store sales growth in the US amid signs that the housing market could begin to recover.

In the tech world, Intel (INTC) shares jumped after SoftBank said it’s taking a $2 billion stake, and the Trump administration reportedly weighed taking its own stake worth up to 10% of the troubled chipmaker.

Wall Street is looking ahead to Fed Chair Jerome Powell’s highly anticipated speech in Jackson Hole on Friday, signaling the central bank’s latest views on interest rates.

Viking Therapeutics (VKTX) stock tumbled 35% in premarket trading after a phase 2 trial of its weight-loss pill showed a high patient dropout rate.

The GLP-1 obesity treatment showed some promising results: Patients lost 12.2% of body weight after 13 weeks. However, 28% of patients dropped out of the trial before it was completed.

Viking’s oral obesity drug, VK2735, aims to compete with Eli Lilly’s drug, orforglipron, which saw a 12% weight-loss rate after 72 weeks. Eli Lilly shares rose 1.5% in premarket trading.

“Data look inferior to LLY on almost all metrics and the thing to consider here is that patients discontinued at such a high rate over 13-weeks vs. LLY in the mid 20% range — but over 72-weeks,” Mizuho analyst Jared Holz wrote in a note. “A much longer trial, and [therefore] LLY looks far better head-to-head.”

US stock futures were muted after the S&P reiterated its credit rating for the US. The 10-year Treasury yield (^TNX) and 30-year yield (^TYX) fell by about 2 basis points to 4.32% and 4.92%, respectively.

Bloomberg reports:

Read more here.

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.

Read more here.

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 (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.

Read more here.

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:

Read more here.

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.

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.