My top 10 things to watch Wednesday, Aug. 21
1. Wall Street was looking at a slightly positive open after modest losses Tuesday broke an eight-session winning streak for the S&P 500 and Nasdaq. Investors are waiting to see the minutes from the Fed’s latest policy meeting Wednesday afternoon. They are hoping to glean further signals on how big September’s interest rate cut will be. Market odds favor a quarter-point move.
2. Club name TJX Companies delivered quarterly beats on earnings and revenue. The off-price retailer behind T.J. Maxx, Marshalls and HomeGoods raised full-year guidance, though it was a tad short of expectations. Shares jumped more than 3%.
3. Target was the big winner. Shares surged more than 14% after the big box retailer beat on earnings and revenue for the quarter. CEO Brian Cornell said customers are responding to the May rollback of prices on 5,000 items.
