Stocks lacked direction and existing home sales declined for the sixth month in a row in July as buyers struggled to pay for record home prices. Weekly jobless claims held steady.

CSCO BJ KSS
Federal Reserve policymakers discussed the risks of higher rates faster but also showed willingness to look beyond the recent decline in oil, gasoline and commodities prices.

The retailer of general merchandise and food said second quarter gross margins and earnings plunged after the company lowered prices to clear excess inventories.

TGT
The discount apparel and home goods retailer said it returned one billion dollar in the first-half of the current fiscal year. U.S. comparable sales declined after consumers curtailed discretionary spending.

TJX

Lowe's Issued Cautious Annual Outlook

Aug 17, 2022
Scott Peters
The home improvement retail chain reported flat quarterly earnings and issued a cautious outlook for the remainder of the year.

LOW

Krispy Kreme's Quarterly Loss Shrank

Aug 17, 2022
Scott Peters
The doughnut chain operator said quarterly loss shrank and lowered it annual revenues estimate.

DNUT
The real estate broker lowered significantly its annual revenues outlook and said quarterly loss soared on non-cash expenses.

COMP


Stocks on Wall Street turned lower after retail sales in July were flat and investors digested the latest batch of earnings. Home builders fell after mortgage application volume dropped to a 22-year low.

TGT LOW
Benchmark indexes closed mixed after a volatile session dominated by retail sector stocks. Investors cheered the latest earnings from Walmart and Home Depot and hoped that the strength in consumer spending will be reflected in results of other retail companies.

Walmart said quarterly revenues rose largely on price increase and the retailer retained its full-year revenue outlook on the back of a stronger second-half performance expectations.

WMT

Home Depot Quarterly Income Rose 8%

Aug 16, 2022
Scott Peters
The home improvement retailer retained its outlook for annual revenues and earnings per share earnings growth. Customer transactions rose but average ticket size rose in the quarter.

HD
Ziprecruiter swung to a quarterly profit after the online employment site lowered its sales and marketing expenses.

ZIP
The apparel resale platform operator said second quarter revenues increased 27% and loss doubled.

TDUP

Retail Earnings Power Market Rebound

Aug 16, 2022
Barry Adams
Stocks struggled to stay in the positive territory and prices for crude oil fell but natural gas rose. Better-than-expected quarterly results from Home Depot and Walmart lifted market sentiment.

ALLY WMT HD TDUP ZIP


Stocks extend gains. China trimmed key lending rates after the latest economic data suggested a weakening rebound in economic activities. Crude oil fell 3%. Home builders confidence declined for the eighth month in a row.