By Christiana Sciaudone
Investing.com — The S&P 500 finally joined the in hitting record territory, making up for losses of the past months driven by the coronavirus pandemic. The Dow closed lower.
Despite strong markets, is still a favorite as futures and spot prices rose, as is Tesla (NASDAQ:), which can’t stop hitting records. Market optimism was also supported by data showing U.S. home building accelerated by the most in nearly four years in July.
Retailers from Walmart (NYSE:) to the Home Depot (NYSE:) reported better-than-expected results on Tuesday, but the outlook did little to lift their fortunes. More retailers are on tap to report earnings this week.
Here are three things that may move markets tomorrow:
1. Tech earnings
Nvidia (NASDAQ:) is expected to report earnings per share of $1.98 on sales of $3.65 billion. The company has beat expectations over the past five quarters.
Analog Devices (NASDAQ:) is set to report earnings per share of $1.28 on sales of $1.43 billion. The stock is up about 46% since March.
2. Retail earnings
Lowe’s (NYSE:) is up tomorrow after Home Depot reported its biggest sales bump in over 20 years today. Lowe’s is estimated to report $2.83 on sales of $23.88 billion. Home Depot fell despite the good news, as stimulus dries up and reality hits.
TJX (NYSE:) is expected to publish a loss per share of 11 cents on sales of $6.46 billion. Shares are up 63% since March.
Target (NYSE:) may report earnings per share of $1.58 on sales of $19.87 billion. The stock is up 50% since March, and will follow Walmart’s record online sales published Tuesday.
3. Fed minutes
The of the latest Federal Reserve meeting will be published in the afternoon. The wise words may provide some insight into how the central bank sees the recovery playing out, Reuters said. The Fed has cut rates to near zero to bolster business through the pandemic.
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