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Wall Street Major Indices Close Slightly Lower on Monday

Wall Street's major stock indexes closed fractionally lower Monday as investors awaited a heavy retail earnings slate, including Home Depot, Target, and Walmart, while geopolitical tensions and shifting Fed expectations also weighed on sentiment. The Dow Jones Industrial Average dipped about 0.3%, while the S&P 500 slipped 0.1%, and the Nasdaq Composite was slightly higher.Most economists expect the Fed to hold rates at 3.5%–3.75% through year-end, as weaker July employment, softer inflation and declining retail sales have reduced expectations for a September hike, though elevated inflation keeps a hike later in the year possible. The dollar fell to a 10-week low, reflecting doubts over whether the Federal Reserve will raise interest rates this year.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Equinoragreed toin the Lackawanna Energy Center for $940MNvidiawillin SB Energy for its Ohio data center leased to OpenAIOmniAbentered a globalwith Eli Lilly and Companythat Commerce Secretary Howard Lutnick said the White House does not want Appleto buy memory chips from ChinaArrow Electronicsexpanded its IBMdistribution coverage to2. WALL STREET CALLS:DeutscheSentinelOneto Hold following the stock's 90% rally from April lowsJefferiesof Honeywellwith a Hold ratingWorkdayto Hold at BTIG, with the firm noting shares are "priced for a buyout"CAEto Outperform at RBC CapitalPennyMac Mortgageto Buy at Deutsche, with the firm calling the recent selloff "overdone"3. AROUND THE WEB:In a recently published report, Wolf Pack said it is short Flotek (FTK) as the company has "yet to disclose to investors that their $400 million contract with the Puerto Rico Electrix Power Authority, accounting for about 57% of FTK's backlog, has been canceled."Alibabais set to sell its entire stake in Lingxi Games to Trustar Capital for more than $2B, advancing its strategy of divesting non-core assets to focus capital and management attention on AI and cloud computing, Reuters reportsAmazonis buying huge quantities of rare books, scanning them for AI, and destroying them, 404 Media reportsNexGen Energyis sharing information and talking regularly with BHP Groupabout its Rook I mining project in Saskatchewan, CEO Leigh Curyer told ReutersTeslahas told staff it is planning for a public Cybercab launch in August, its first vehicle without a steering wheel or brake pedal, Information reports4. MOVERS:Hive Digitalincreases afterGPU cloud services pact with an enterprise customerH Worldincreases in New York afterEnovixfalls after announcing theRaj TalluriEyePointlower after announcing its Duravyu Phase 3 studyGeminideclines after Goldman Sachs, Needham, Mizuho, Rosenblatt, and Cantor Fitzgeraldon the stocks following Q2 results5. EARNINGS/GUIDANCE:Bally'swith CEO commenting, "We delivered solid second quarter results across the enterprise"InspireMD, with EPS and revenue missing consensusPioneer Power, with EPS and revenue lower year-over-yearCEL-SCI, with CEO Geert Kersten commenting, "This was a quarter of important progress across our clinical, regulatory and commercialization programs as we move Multikine closer to patients"DataMEDS AI, with EPS and revenue lower year-over-yearINDEXES:The Dow was down 272.63, or 0.51%, to 53,459.78, the Nasdaq was down 84.25, or 0.32%, to 26,644.91, and the S&P 500 was down 40.70, or 0.52%, to 7,745.06.

Wall Street Slightly Lower as Retail Earnings Awaited

Wall Street traded slightly lower Monday as investors awaited a heavy retail earnings slate, including Home Depot, Target, and Walmart, while geopolitical tensions and shifting Fed expectations also weighed on sentiment. The Dow Jones Industrial Average dipped about 0.3%, while the S&P 500 slipped 0.1%, and the Nasdaq Composite was slightly higher.Most economists expect the Fed to hold rates at 3.5%–3.75% through year-end, as weaker July employment, softer inflation and declining retail sales have reduced expectations for a September hike, though elevated inflation keeps a hike later in the year possible. The dollar fell to a 10-week low, reflecting doubts over whether the Federal Reserve will raise interest rates this year.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Equinoragreed toin the Lackawanna Energy Center for $940MNvidiawillin SB Energy for its Ohio data center leased to OpenAIOmniAbentered a globalwith Eli Lilly and Companythat Commerce Secretary Howard Lutnick said the White House does not want Appleto buy memory chips from ChinaArrow Electronicsexpanded its IBMdistribution coverage to2. WALL STREET CALLS:DeutscheSentinelOneto Hold following the stock's 90% rally from April lowsJefferiesof Honeywellwith a Hold ratingWorkdayto Hold at BTIG, with the firm noting shares are "priced for a buyout"CAEto Outperform at RBC CapitalPennyMac Mortgageto Buy at Deutsche, with the firm calling the recent selloff "overdone"3. AROUND THE WEB:Alibabais set to sell its entire stake in Lingxi Games to Trustar Capital for more than $2B, advancing its strategy of divesting non-core assets to focus capital and management attention on AI and cloud computing, Reuters reportsTo overhaul its Whopper, Burger Kingchanged up some of the ingredients and also hired U.S. Head Chef Amy Alarcon, the corporate chef who previously helped revamp Popeyes, WSJ saysAmazonis buying huge quantities of rare books, scanning them for AI, and destroying them, 404 Media reportsMastercardcard payments were temporarily declined on Saturday afternoon for Australian customers due to a global issue that has been resolved, Bloomberg saysNexGen Energyis sharing information and talking regularly with BHP Groupabout its Rook I mining project in Saskatchewan, CEO Leigh Curyer told Reuters4. MOVERS:Almontygains after announcing aof up to $300MH Worldincreases afterEnovixfalls after announcing theRaj TalluriEyePointlower after announcing its Duravyu Phase 3 studyGeminideclines after Goldman Sachs, Needham, Mizuho, Rosenblatt, and Cantor Fitzgeraldfollowing Q2 results5. EARNINGS/GUIDANCE:Bally's, with CEO commenting, "We delivered solid second quarter results across the enterprise"InspireMDwith EPS and revenue missing consensusPioneer Powerwith EPS and revenue lower year-over-yearCEL-SCIwith CEO Geert Kersten commenting, "This was a quarter of important progress across our clinical, regulatory and commercialization programs as we move Multikine closer to patients"DataMEDS AI, with EPS and revenue lower year-over-yearINDEXES:Near midday, the Dow was down 0.3%, or 184.62, to 53,547.79, the Nasdaq was up 0.2%, or 43.74, to 26,772.10, and the S&P 500 was down 0.1%, or 8.53, to 7,777.23.

Nasdaq Leads Gains as Investor Confidence Rebounds

Stock futures are mostly higher as investors begin the week with the Nasdaq leading gains on renewed strength in AI and semiconductor stocks. The AI trade is getting another boost after reports that Anthropic expects revenue of roughly $190B to $200B in 2028, reinforcing investor confidence in the commercial potential of generative AI.The implied probability of a September rate hike is down to roughly 30% from around 50% a week ago. The combination of softer inflation and a weakening labor market is increasingly giving investors reason to expect the Fed to remain on hold rather than tighten policy, although the latest rise in oil prices could complicate that outlook.Oil remains the principal counterweight to the bullish equity backdrop. Brent crude is around $89 a barrel, after rising about 6% last week, as the conflict involving Iran and continued uncertainty around the Strait of Hormuz keep supply risks elevated. Higher energy prices could eventually feed back into inflation expectations and make it more difficult for the Fed to ease policy.This week's focus will shift toward retail earnings and the Fed, with Walmart, Home Depot and Target among the major companies reporting. Investors will also receive the Fed's July meeting minutes Wednesday, which could provide additional clues about the debate between policymakers who favor maintaining or raising rates and those who see a weakening labor market as justification for eventual easing.In pre-market trading, S&P 500 futures rose 0.11%, Nasdaq futures rose 0.44% and Dow futures fell 0.23%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Alibabaup 1.5% after Reutersthat the company is set to sell its entire stake in Lingxi Games to Trustar Capital for more than $2BSoFi Technologiesup 1.6% after Piper Sandler initiated coverage of the stock with an Overweight rating and $22 price targetUP AFTER WHITE HOUSE URGES APPLE NOT TO BUY CHIPS FROM CHINA -SanDiskup 3.3%Western Digitalup 2.5%Micronup 2.7%Seagateup 2%UP AFTER EARNINGS -Freightosup 16.3%H Worldup 8%LOWER -EyePointdown 70% after reporting that the primary endpoint was not achieved in its LUGANO trialL3Harris Technologiesdown 2.5% after CEO Christopher Kubasik stepped down amid a conduct review