- Minor Momentum: The S&P 500 and Nasdaq showed modest gains in Monday's session, with the S&P 500 closing nearly flat and the Nasdaq up 0.21% due to Nvidia's 4% rise. The Dow Jones dropped by 0.36%. Investors are awaiting the release of the Producer Price Index for July.
- Retail Earnings: Home Depot reported better-than-expected earnings but warned about cautious consumer spending, predicting a larger decline in sales for the year.
- Inflation Outlook: Consumers are feeling more optimistic about inflation, with the New York Fed's survey showing a three-year inflation outlook at 2.3%, the lowest since 2013.
- Commodity Prices Drop: Commodity prices, including crude oil and copper, have fallen significantly in the past month, signaling potential weaknesses in the global economy.
- Macy's Store Closures: Macy's plans to close around 150 stores, prompting malls to explore creative ways to repurpose these large spaces, including turning them into apartments, warehouses, or entertainment facilities.
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