Sign InStock Market Update: Inflation Data, Retail Earnings, Premarket Movers
Alex Vellor
Investors Brace for Key Inflation Data and Retail Earnings
U.S. stock futures are seeing a slight uptick after a rocky week. Investors are gearing up for a significant batch of economic data, with key consumer inflation figures set to be released on Wednesday. This data could provide a crucial indicator for the Federal Reserve's potential rate cut in September. Investors are also keenly watching retail earnings, with Walmart's (NYSE:WMT) report on Thursday being a major focus. The retail giant's performance will offer insights into consumer behavior amidst rising economic pressures.
Today's Premarket Movers:
| Company | Stock Change | Details |
|---|---|---|
| Starbucks (NASDAQ:SBUX) | +2.7% | Activist investor Starboard Value has taken a stake in the coffee giant, aiming to improve its stock price. |
| Pfizer (NYSE:PFE) | +0.3% | Strong immune response in late-stage study of RSV vaccine Abrysvo in adults with compromised immune systems. |
| Hawaiian Electric (NYSE:HE) | -10% | Raised "going concern" doubts due to lack of a financing plan for the $1.99 billion Maui wildfire settlement. |
| Robinhood (NASDAQ:HOOD) | +1.4% | Upgraded to ‘overweight’ by Piper Sandler, seeing the recent pullback as a buying opportunity. |
| KeyCorp (NYSE:KEY) | +15% | Minority investment by The Bank of Nova Scotia, with the deal valued at $2.8 billion. |
| Marathon Digital (NASDAQ:MARA) | -3.9% | Announced plans for a $250 million convertible debt offering. |
| Trump Media & Technology (NASDAQ:DJT) | -0.7% | Elon Musk set to interview Donald Trump on the social media site X, rival to Truth Social. |
Retail Sector Under the Microscope
As consumers become increasingly value-conscious, Walmart's (NYSE:WMT) earnings will be closely scrutinized. The company's results will provide a snapshot of consumer resilience. On the other hand, Home Depot (NYSE:HD) is anticipated to report year-over-year declines in both sales and profits on Tuesday. This reflects a broader trend of consumers tightening their belts.
Despite these concerns, the VIX index, a measure of stock market volatility, has calmed after peaking last week. The initial spike was triggered by an unwinding of the yen carry trade and recession fears in the U.S.
Disney's Ambitious Expansion Plans
The Walt Disney Co. (NYSE:DIS) is investing heavily in its theme park attractions and cruise fleet. This announcement comes despite recent warnings of slowing demand in its Experiences segment.
At the "D23: The Ultimate Disney Fan Event" in Anaheim, California, Disney unveiled its largest expansion in the history of Orlando's Magic Kingdom. New attractions include a Villains Land and another inspired by the "Cars" franchise.
Additionally, new "Avengers" attractions are planned for parks in California, Hong Kong, and Shanghai. Disney also aims to expand its cruise fleet from nine to thirteen ships by 2031. Following these announcements, Disney's shares have edged higher in premarket trading, though they remain down over 4% year-to-date.
About The Author
Alex Vellor
Read Next in Latest Stock Market News
View All News
