Market Overview 'Market Recap' Week Ending August 23rd, 2019


NEW YORK, Aug. 23, 2019 /PRNewswire/ -- U.S. markets began the week stronger following optimism revolving around trade talks as well as a global stimulus. The Dow Jones Industrial Average opened 304.42 points or 1.18% higher on Monday morning as U.S. President Donald Trump digested Apple Chief Executive Officer Tim Cook's warning that additional tariffs could hurt Apple's operations and give its rivals a competitive advantage. In response, Trump said Cook made a "good case" and would reevaluate the tariffs. Despite the reevaluation, Trump also made it clear that he does not U.S. companies to do business with Chinese technology giant Huawei because of national security concerns. On Tuesday, markets declined throughout the day as investors focused on the Federal Reserve's Jackson Hole symposium at the end of the week. Despite the decline, markets recovered on Wednesday after the Federal Reserve's meeting minutes from July 30th to July 31st were released. The minutes revealed that the Federal Reserve members believed "it was important to maintain optionality in setting policy." The rate setting Federal Open Market Committee voted 8-2 in favor of lowering short-term interest rates by 25 basis points to 2%-2.25%. Most members who supported the cut agreed with Chairman Jerome Powell stance that it was a "mid-cycle adjustment." The reasoning for cutting the rates is largely due to foreign concern among policymakers over a global economic slowdown as well as the ongoing trade tensions between the U.S. and China. However, markets retreated once again on Thursday as the Dow Jones dropped by over 250 points ahead of the Federal Reserve' symposium after starting the morning higher. Kansas City Federal Reserve President Esther George indicated on Thursday that she would not support further rate cuts. Similarly, Philadelphia's Federal Reserve President Patrick Harker supported the rate cut at first, but now wants rates to remain steady, according to MarketWatch. The Home Depot, Inc. (NYSE:HD), Lowe's Companies, Inc. (NYSE:LOW), Target Corporation (NYSE:TGT), Nordstrom, Inc. (NYSE:JWN), BJ's Wholesale Club Holdings, Inc. (NYSE:BJ)

Despite the decline on Thursday, the Dow Jones recovered throughout the end of the day in light of Powell's announcement on Friday about a possible September rate cut. The Dow Jones closed 49.51 points or 0.19% higher on Friday. The S&P 500 closed 1.48 or 0.05% lower, while the Nasdaq Composite finished 28.82 points or 0.36% lower. "We already knew that last months Fed rate cut was likely to be a contentious decision, given the differing views that were already being voiced in the lead-up to the decision," wrote Michael Hewson, Chief Market Analyst at CMC Markets, in a daily research note. "Yesterday's release of the minutes only served to confirm that view, and while Fed [Chairman] Jay Powell pushed the line that the reduction was a "mid-cycle adjustment" policy makers were sharply split on the course of action to take."

For our latest "Buzz on the Street" Show featuring "Retail Earnings Report" please visit:

The Home Depot, Inc. (NYSE:HD) reported its second quarter financial results before the opening bell on Tuesday. The home-goods retailer provided better-than-expected earnings, but missed analysts' revenue estimates. Despite the revenue miss, Home Depot shares gained 3.7% shortly after the market opened. For the second quarter, Home Depot reported earnings of USD 3.17 per share on revenues of USD 30.84 Billion. Analysts expected earnings of USD 3.08 per share on revenues of USD 30.99 Billion. Same-store sales for the quarter were up 3%, falling short of analysts' estimates of 3.5%. Home Depot reported that revenues increased by 1.2% year-over-year, largely due to the momentum it is experiencing in its strategic investments and believes that the current health of the U.S. consumer and stable housing environment is continually growing. Based on the impact from the impact of lumber sales, Home Depot is now forecasting fiscal 2019 sales growth of approximately 2.3% and comp sales up 4.0%. Additionally, the Company reaffirmed diluted earnings-per-share growth of USD 10.03, increasing by 3.1% compared to fiscal 2018. Previously, Home Depot expected sales growth of 3.3% for fiscal 2019. 

Lowe's Companies, Inc. (NYSE:LOW) reported its second quarter financials during pre-market hours on Wednesday. The home improvement retailer topped analysts' estimates, sending shares 10% higher. For the second quarter, Lowe's reported earnings of USD 2.15 per share on revenues of USD 20.99 Billion. Analysts expected earnings of USD 2.01 per share on revenues of USD 20.94 Billion. Lowe's reported same store sales of 2.3%, beating estimates of 1.9%. Revenue increased marginally by 0.5% compared to the second quarter of last year. Lowe's mentioned that its financials were impacted by lumber deflation and difficult weather. Nonetheless, the Company was able to report positive comparable sales in all of its 15 regions across the U.S. As for the rest of fiscal 2019, Lowe's expects revenue to increase by 2%, while comparable sales is projected to rise by 3% compared to fiscal 2018. Lowe's also expects earnings between USD 5.45 to USD 5.65 per share. 

Target Corporation (NYSE:TGT) reported its second quarter financial results before the opening bell on Wednesday. The retailer reported better-than-expected results and provided an upbeat guidance, sending shares surging by over 17.7% to USD 100.77 per share. For the second quarter, Target reported earnings of USD 1.82 per share on revenues of USD 18.42 Billion. Analysts expected earnings of USD 1.62 per share on revenues of USD 18.34 Billion. Second quarter comparable sales grew by 3.4%, driven primarily by a 2.4% traffic growth during the quarter. For both the third quarter and second half of fiscal 2019, Target expects comparable sales growth to fall in-line with 3.4% growth in the second quarter. For the third quarter, the Company expects to report adjusted earnings between USD 1.04 to USD 1.24 per share. And as for the full year, Target now expects earnings of USD 5.90 to USD 6.20 per share, compared to its previous forecast of USD 5.75 to USD 6.05 per share. 

Nordstrom, Inc. (NYSE:JWN) reported its second quarter financial results during extended trading hours on Wednesday. The retailer crushed analysts' earnings estimates but fell short of revenue projections. For the second quarter, Nordstrom reported earnings of USD 0.90 per share on revenues of USD 3.87 Billion. Analysts expected earnings of USD 0.75 per share on revenues of USD 3.93 Billion. In Full-Price, revenue decreased by 6.5% compared to the same period last year. Off-Price revenue declined by 1.9%. Nordstrom reported total company digital sales grew by 4%, accounting for 30% of the business. For the full-year, Nordstrom is expecting net sales to either decrease by 2% or remain flat. Additionally, the Company lowered the higher-end of its guidance and now expects earnings between USD 3.25 to USD 3.50 compared to its previous outlook of USD 3.25 to USD 3.65 per share. 

BJ's Wholesale Club Holdings, Inc. (NYSE:BJ) reported its second quarter financial results before the opening bell on Thursday. The wholesale retailer reported better-than-expected results and affirmed its guidance, sending shares soaring by 14.4%. For the second quarter, BJ's reported earnings of USD 0.39 per share on revenues of USD 3.35 Billion. Analysts expected earnings of USD 0.37 per share on revenues of USD 3.39 Billion. Comparable club sales for the quarter increased by 1.6% compared to the same quarter a year prior, matching analysts' estimates. As for the remainder of fiscal 2020, BJ's is expecting earnings between USD 1.42 to USD 1.50 per share on revenues of USD 12.9 Billion to USD 13.2 Billion

Subscribe Now! Watch us report LIVE

Follow us on Twitter for real time Financial News Updates:

Follow and talk to us on Instagram:

Facebook Like Us to receive live feeds:

About, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, creates 100% unique original content. also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on (the "site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content),, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. receives fees for producing and presenting high quality and sophisticated content on along with other financial news PR media services. does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, has not been compensated for financial news dissemination and PR services by any parties. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. will always disclose any compensation in securities or cash payments for financial news PR advertising. does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security., members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit:

For further information:
Media Contact:


Cision View original content:


View Comments and Join the Discussion!