Dow Futures fall, Home Depot Beats Expectations, And What Else Is Going On In The Stock Market Today


Stock futures fell on Tuesday after investors ignored bad news from China and the U.S. the day before and pushed stocks higher. Analysts were wrong about what Home Depot HD –0.09% (ticker: HD) would earn. The stock price fell by 1.8%. Walmart (WMT) will also report earnings before the market opens on Tuesday. On Tuesday, contracts tied to the Dow Jones Industrial AverageDJIA +0.45% fell 33 points, or 0.1%, to 33,840. Contracts tied to the S&P 500SPX +0.40% and the NasdaqCOMP +0.62% also fell 0.2%. Crude oil prices slumped.

With The Walmart Streaming Deal, Paramount stock Goes Up.

Even though China surprised everyone by cutting its interest rates after data showed a drop in retail sales and factory output in the world’s second-largest economy, stocks closed higher on Monday. This was despite the fact that the New York Federal Reserve’s Empire State Manufacturing Survey fell far short of expectations.

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Also, the mood of U.S. home builders has been going down for eight months in a row. Stocks have gone up for four weeks in a row because there are signs that inflation is slowing down at both the consumer and wholesale levels. This has led investors to bet that the Federal Reserve will be less strict. In order to slow down the economy, the central bank has raised interest rates four times this year, the last two times by three-quarters of a percentage point. On Wednesday, the minutes from the Federal Open Market Committee’s policy meeting in July will be made public. At that meeting, the Fed raised rates by 0.75 percentage points, which was the second time in a row that they were raised. The Fed’s next move will be based on what the minutes say.

Dow Futures fall, Home Depot Beats Expectations, And What Else Is Going On In The Stock Market Today
Dow Futures fall, Home Depot Beats Expectations, And What Else Is Going On In The Stock Market Today

Tim Pagliara, chief investment officer at Franklin, Tennessee-based wealth management firm CapWealth, said that a few weaker inflation readings don’t mean that the Fed will slow or even stop raising interest rates, which is what the market is expecting. Pagliara said that the recent “melt-up” in the market was “more like a bear market rally,” and he reminded investors that there were four bear market rallies of 20% or more during the dot-com bubble, and each one tested new lows.

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These Stocks Are Moving Tuesday Morning Before The Market Opens

Zoom Video (ZM) fell 3.3% after analysts at Citi changed the stock’s rating from Neutral to Sell. After Elliott Investment Management said it had a 3.7% stake in the defence company, Aerojet Rocketdyne (AJRD) went up by 4.6%. Ginkgo Bioworks (DNA), a company that works in the new field of synthetic biology, went up by 16.3% after the company’s revenue for the second quarter beat analysts’ expectations. After cutting its revenue forecast for the year, ZipRecruiter (ZIP) fell 6.1%.

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