Listed below are 5 key issues traders want to know to start out the buying and selling day:1. Fortunate quantity 82. Lowe’s lowers outlookAn external view of a Lowe’s house development retailer on the Buckhorn Plaza buying groceries heart. Paul Weaver | Lightrocket | Getty ImagesLowe’s beat its second-quarter income expectancies Tuesday morning, however ignored on gross sales. The house development store additionally reduce its full-year outlook, mentioning weakening spending on homemade initiatives and a “burdened macroeconomic atmosphere.” It stated it expects similar gross sales to fall through 3.5% to 4%, worse than its prior forecast for a decline of two% to a few%. The corporate additionally stated it now expects general gross sales of $82.7 billion to $83.2 billion for the entire yr, in comparison with the $84 billion to $85 billion vary it up to now anticipated.3. GM layoffsThe GM emblem is pictured on the Normal Motors Meeting Plant in Ramos Arizpe, state of Coahuila, Mexico October 7, 2019. Daniel Becerril | ReutersGeneral Motors is shedding greater than 1,000 salaried workers around the globe within the corporate’s device and repair division. That incorporates about 600 jobs on the automaker’s tech campus close to Detroit. The layoffs — which constitute about 1.3% of the 76,000 world salaried group of workers on the finish of closing yr — got here after a assessment to streamline the unit’s operations, CNBC’s Michael Wayland reported Monday. Automakers, together with GM, were looking to scale back prices amid rising fears of an business downturn.4. SEC fines IcahnCarl Icahn talking at Turning in Alpha in New York on Sept. 13, 2016.David A. Grogan | CNBCBillionaire activist investor Carl Icahn and his corporate Icahn Enterprises have settled allegations that he didn’t divulge billions of bucks price of private margin loans pledged in opposition to the worth of his inventory, the Securities and Trade Fee stated Monday. Icahn used to be fined $500,000, and his corporate used to be fined $1.5 million as a part of the agreement. The SEC alleged that Icahn pledged any place from 51% to 82% of Icahn Enterprises stocks exceptional to safe billions in margin loans with out disclosing that reality to shareholders or federal regulators. Stocks of the corporate fell kind of 5% in buying and selling Monday. Icahn has been dealing with drive from every other activist brief supplier, Hindenburg Analysis, since 2023.5. Swan songUS President Joe Biden speaks at the first day of the Democratic Nationwide Conference (DNC) on the United Middle in Chicago, Illinois, on August 19, 2024. Andrew Caballero-Reynolds | AFP | Getty ImagesPresident Joe Biden handed the torch to Vice President Kamala Harris at the first night time of the Democratic Nationwide Conference in Chicago, touting his accomplishments however announcing “I like the process, however I like my nation extra.” His just about hourlong speech used to be the capstone of the primary night time of the DNC, which can finish Thursday with Harris formally accepting her birthday party’s presidential nomination. Monday’s schedule additionally featured speeches from former Secretary of State Hillary Clinton and United Auto Employees president Sean Fain, who fired up the group. Harris made a wonder look previous within the night time, thanking Biden for his “historical management.”— CNBC’s Alex Harring, Hakyung Kim, Melissa Repko, Michael Wayland, Rohan Goswami, Dan Mangan, Kevin Breuninger, Christina Wilkie, Rebecca Picciotto and Josephine Rozzelle contributed to this record.
