August Daily Review - 18/08

 

1. Wal-Mart Stores Inc (N:WMT) reported weaker-than-expected quarterly earnings and lowered its full-year forecast, citing higher costs from adding worker hours as well as weaker margins in its U.S. pharmacy business.

2. Home Depot Inc (N:HD), the world's No.1 home improvement retailer, reported a better-than-expected rise in quarterly same-store sales, helped by increased home remodeling activity in the United States and a recovery in the housing market.

3. Stocks fell on Tuesday, with European markets buckling under heavy selling pressure carried over from Asia after Chinese shares slumped 6 percent and emerging market currencies and oil prices remained anchored at historic lows.

4. Wall Street opened lower on Tuesday following a 6 percent slump in Chinese shares and disappointing quarterly results from Wal-Mart (N:WMT). (Reuters)

5. U.S. natural gas prices slumped to the lowest level in more than five weeks on Tuesday, as forecasts for cooler weather across key consumption regions of the U.S. in the week ahead dampened demand expectations for the fuel.

6. The dollar moved higher against a basket of major currencies on Tuesday, after data showing that U.S. housing starts rose to an almost eight-year high in July. The Commerce Department reported that housing starts rose 0.2% to an annual pace of 1.21 million units, the highest level since October 2007. (Investing.com)

  

 

 

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