Lowe’s jumped more than 5% after beating profit expectations in the third quarter, while TJX added 0.3% as deal-driven shoppers boosted outlooks.
In contrast, Target slipped after reporting a steeper-than-expected drop in sales tied to strained consumer spending. Walmart’s results later this week could provide important read-through on retail resilience heading into year-end.
What Are Traders Watching in the Fed and Labor Data?
The Fed’s October meeting minutes — tied to the central bank’s 25-basis-point rate cut — were due later in the session at 19:00 GMT. Traders also prepared for Thursday’s September jobs report, a key determinant for rate-path expectations.
Short-Term Market Forecast
The near-term outlook leans cautiously bullish as indexes attempt to stabilize above this week’s lows. Nvidia’s earnings could serve as a decisive catalyst; stronger guidance may revive interest in AI-linked names and lift broader sentiment.
A supportive jobs report would reinforce expectations that the Fed can maintain its current path without tightening financial conditions further.
However, valuations across tech remain elevated, and any disappointment from Nvidia or softer labor data could limit upside momentum. For now, traders appear willing to buy selectively while waiting for clearer confirmation of earnings strength and consumer resilience.
More Information in our Economic Calendar.