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Wall Street Opens Cautiously as Home Depot Kicks Off Retail Earnings Week
US stock futures were muted early Tuesday, with investors weighing a mixed set of signals ahead of a busy stretch for retail earnings. Dow Jones Industrial Average futures edged slightly higher, while S&P 500 and Nasdaq 100 contracts hovered just below the flat line.
Home Depot’s second-quarter results set the tone, showing revenue growth of nearly 5% year-over-year but narrowly missing Wall Street’s earnings and sales forecasts. The home improvement giant reaffirmed its full-year outlook, leaning on strength in its professional contractor segment even as DIY spending remains soft. Shares dipped in premarket trading before recovering some ground.
The retail spotlight now shifts to Target and Walmart, whose results later this week will offer a broader read on consumer resilience amid new US tariffs and shifting spending patterns.
Beyond earnings, traders are eyeing the Federal Reserve’s annual Jackson Hole symposium starting Thursday, where Chair Jerome Powell’s remarks could hint at the central bank’s next move on interest rates. With inflation still stubborn and the labor market showing signs of strain, the path forward remains uncertain — keeping Wall Street in a cautious stance.
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