HD, MDT, TOL Earnings & Retail Tomorrow

U.S. stock futures are slightly lower in premarket trading as traders looked ahead to a key speech from Federal Reserve Chair Jerome Powell later in the week.

Home Depot (HD) shares are up slightly despite the home improvement giant reporting weaker-than-expected second-quarter earnings but the company maintained its full-year outlook.

Investor focus is on retail earnings this week along with Fed Chair Powell’s speech on Friday morning that may provide clues on potential interest rate cuts.

Morning Movers

Snapshot (as of 7 AM ET)

  • Oil (/CL) – Oil prices are down over 1% near $62 a barrel as traders weighed the possibility that talks between Russia, Ukraine and the U.S. to end the war in Ukraine could lead to the lifting of sanctions on Russian crude, raising supply.

  • Gold (/GC) Gold prices are up 0.2% near $3,380, buoyed by lower treasury yields and a weaker dollar amid prospects of lower U.S. interest rates, while investors looked ahead to the Federal Reserve chair’s speech at Jackson Hole on Friday.

  • Bitcoin (/BTC)The Crypto Future is down 0.6% near $115,800 in the premarket.

  • VIX The CBOE Volatility Index was down 0.6% on Monday and settled at 14.99 as stocks were flat.

  • U.S. Dollar (/DX) – The dollar is down 0.1% to 97.9.

Biggest Premarket Movers

Symbol

Product

Mark % Change (as of 7 AM ET)

PANW

Palo Alto Networks

+5.90%

INTC

Intel

+4.31%

BBY

Best Buy

+2.09%

MDT

Medtronic

-3.14%

AMD

Advanced Micro Devices

-1.36%

CVX

Chevron

-1.10%

Economic Data

Time

Event

8:30AM ET

Housing Starts/Permits

10:00AM ET

E-Commerce Retail Sales

2:10PM ET

Fed’s Bowman Speaks

Notable Earnings

Premarket

Postmarket

Premarket Tomorrow

Postmarket Tomorrow

AS, HD, MDT, VIK, XPEV

SQM, JHX, KEYS, LZB, TOL, ZTO

ALC, ADI, BIDU, DY, EL, GDS, IQ, BEKE, KC, LOW, TGT, TJX, ZIM

COTY, NDSN

Upgrades/Downgrades

  • Evercore upgrades Caterpillar (CAT) to Outperform from In Line

  • BofA upgrades Palo Alto Networks (PANW) to Buy from Neutral

  • Daiwa upgrades Gilead (GILD) to Outperform from Neutral

  • Bernstein downgrades Li Auto (LI) to Market Perform from Outperform

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