Fed will begin cutting rates again in September, says PIMCO's Mike Zudzil
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Target, Lowe's, TJX earnings, July FOMC minutes: What to Watch
Here's what investors are watching on Wednesday, August 20. On the earnings front, retailers continue to release results with TJX (TJX), Lowe's (LOW), and Target (TGT) set to release their quarterly reports. Investors will get additional commentary from Federal Reserve officials, with Fed Governor Christopher Waller and Atlanta Fed president Raphael Bostic set to deliver remarks. The minutes from the July FOMC meeting are also set to be released. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime. Time now for what to watch Wednesday, August 20th. Gonna start off on the earnings front. More reports from the retail sector coming in on Wednesday, including TJX, Lowe's and Target. Lowe's announced results for the second quarter before the markets open and it was expecting its same store sales to rise about 1% in Q2. This coming after rival home improvement retailer Home Depot reported earnings on Tuesday, maintaining its full-year forecast amid an improving rate environment. Taking a look at the Federal Reserve, we're going to be getting some more commentary from a couple Fed officials on Wednesday. This is coming after comments from Fed Vice Chair for Supervision, Michael Bowman, on Tuesday. Bloomberg asking Bowman about her interest in taking on the role of Fed chair, and Bowman deflecting, saying quote, "I'm really focused on the job that I'm doing." And sticking with the central bank, the Fed releasing minutes for July's FOMC meeting, where the central bank held interest rates steady. The minutes giving us more insight into a divided Fed's thinking as it prepares for its next meeting on interest rates in September.
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Trump claims Powell 'hurting' the housing industry in latest attack on Fed chair
WASHINGTON (Reuters) -U.S. President Donald Trump said on Tuesday that Federal Reserve Chair Jerome Powell is "hurting" the housing industry "very badly" and said he should cut interest rates. Trump has repeatedly urged Powell to cut interest rates while also sharply criticizing Powell. "Could somebody please inform Jerome "Too Late" Powell that he is hurting the Housing Industry, very badly? People can't get a Mortgage because of him. There is no Inflation, and every sign is pointing to a major Rate Cut," Trump wrote on Truth Social. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Nasdaq tumbles as Jackson Hole jitters hit tech stocks
STORY: U.S. stocks finished mostly lower on Tuesday, with the Dow ending essentially flat, the S&P 500 dropping about six-tenths of a percent, and the tech-heavy Nasdaq losing nearly one-and-a-half percent. Investors are focused on the Federal Reserve's annual symposium in Jackson Hole, Wyoming, this week, culminating in remarks on Friday from Chair Jerome Powell. And that has them on edge, according to Melissa Brown, managing director of investment decision research at SimCorp. "I think things [stocks] may be heading south today because possibly the prospect of the Fed cutting rates or discussing cutting rates at the meeting on Friday, maybe there's a little less chance of that. I've seen a lot of commentary recently about the, that there's really not a huge need to cut rates, that the economy is reasonably strong. And what many economists are are more worried about is inflation." Despite that, interest rate futures point to a total of two 25-basis point rate cuts this year, with the first expected in September, according to data compiled by LSEG. Related Videos Tech sell-off, crypto signals, bond bounce: Market takeaways Private Credit Sees AI Opportunity After Meta's $29B Deal Franklin Raines Weighs In on Fannie Mae, Freddie Mac IPO Nasdaq Composite closes more than 1% lower Among Tuesday's stock movers were megacaps, which lost ground after rallying much of the year, with AI darling Nvidia shedding 3.5%, its biggest drop in nearly four months. Some market participants have expressed concerns about AI-related stocks after OpenAI's CEO Sam Altman said they are in a bubble in an interview with "The Verge" late last week. Shares of Intel jumped roughly 7% after the chipmaker got a $2 billion capital injection from Japan's SoftBank Group. And shares of Palo Alto Networks rose 3% after the cybersecurity company forecast fiscal 2026 revenue and profit above estimates. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
