Market Overview - Major U.S. stocks experienced a decline, with the Dow Jones Industrial Average falling by 1.07% to 46,091.74, the S&P 500 decreasing by 0.8% to 6,617.32, and the Nasdaq dropping by 1.21% to 22,432.84 [1] Nvidia Corporation - Nvidia's stock decreased by 2.81%, closing at $181.36, with an intraday high of $184.80 and a low of $179.65, within a 52-week range of $86.63 to $212.19 [1] - Analyst Ruben Roy from Stifel maintained a Buy rating and raised the price target to $250, citing a significant backlog as a potential driver for long-term success [2] - Nvidia is expected to release earnings on Wednesday after the market closes, with expectations to beat third-quarter estimates and provide strong fourth-quarter guidance [2] Home Depot - Home Depot's shares dropped by 6.02%, closing at $336.48, with an intraday high of $348.80 and a low of $336.01, within a 52-week range of $326.31 to $439.37 [3] - The company lowered its full-year profit forecast due to weaker demand and a stalled housing market, indicating cautious consumers and a housing market at 40-year lows in turnover [4] Cloudflare Inc - Cloudflare's stock decreased by 2.83%, ending the day at $196.53, with an intraday high of $200.54 and a low of $187.48, within a 52-week range of $89.42 to $260 [5] - A global outage impacted services, leading to a significant drop in stock value, with major platforms briefly offline and disruption reports reaching nearly 13,000 for Elon Musk's platform X [6] Plug Power Inc - Plug Power's stock rose by 2.64%, closing at $2.14, with an intraday high of $2.29 and a low of $1.99, within a 52-week range of $0.69 to $4.58 [7] - The stock plunged nearly 21% to $1.69 in after-hours trading following the announcement of a $375 million private offering of convertible senior notes due 2033 [8] Amazon - Amazon's shares fell by 4.43%, closing at $222.55, with an intraday high of $230.20 and a low of $222.42, within a 52-week range of $161.43 to $258.6 [8] - The stock was downgraded by Rothschild & Co from Buy to Neutral, maintaining a price target of $250, with concerns over Gen-AI's weaker pricing power and higher capital intensity [9]

Financial Performance - The world's largest home improvement retailer posted weaker-than-expected quarterly earnings [1] - The company trimmed its full-year profit outlook [1] Market Dynamics - The company cited a sluggish housing market as a contributing factor [1] - A lack of storms also impacted the company's performance [1]

Core Insights - Home Depot has cut its full-year outlook due to a slowdown in consumer spending, with comparable sales rising only 0.2%, and US comps up by 0.1%, falling short of Wall Street expectations [1][3][7] - The company is experiencing a decline in demand as middle-class shoppers are becoming more cautious, influenced by high borrowing costs and a sluggish housing market [3][4] - External factors such as milder weather and a lack of storms have negatively impacted sales of seasonal products, further contributing to the decline in home improvement demand [4][5] Group 1: Company Performance - Home Depot reported weakening sales growth for Q3, with a significant drop in expected demand [2][3] - The company had anticipated better results due to easing interest rates, but this did not materialize [3][4] - The decline in home improvement projects is estimated at 0.8% from the previous year, particularly affecting big-ticket remodels that require financing [5] Group 2: Industry Trends - The slowdown in consumer spending is part of a broader trend affecting the retail sector, with many retailers facing similar challenges [6][8] - Analysts indicate that the consumer backdrop is deteriorating quickly, moving from "soft to softer" as winter approaches [4][7] - Uneasy consumers are shifting their spending towards travel and leisure rather than home upgrades, impacting overall demand in the home improvement sector [5][6]

Market Performance - The U.S. stock market faced a challenging session on November 18, 2025, with all three major indexes closing lower for the second consecutive day. The Dow Jones Industrial Average fell 1.1% to close at 46,590.24 points, while the S&P 500 slid 0.8% to 6,672.41 points. The Nasdaq Composite dropped 1.2%, closing at 22,708.08 points [1][2][3] Sector Performance - The broader market sentiment remained negative, with decliners outnumbering advancers on both the NYSE and Nasdaq. The CBOE Volatility Index (VIX) surged 12.86% to 22.38, indicating heightened investor anxiety. The technology, materials, financials, and energy sectors were notable underperformers, with ten of the eleven S&P 500 sectors ending in negative territory [3] Major Stock Movements - Nvidia (NVDA) continued its downward trend, with shares declining 3.2% today, bringing its monthly loss to nearly 11%. Analysts expect strong fiscal Q3 earnings driven by robust AI demand, with Stifel raising its price target to $250 and BofA Securities increasing its EPS estimates to a $275 price target [4] - Home Depot (HD) shares slid nearly 4% after reporting weaker-than-expected quarterly earnings and trimming its full-year profit outlook, with Q3 comparable sales rising only 0.2% against a consensus estimate of 1.36% [5] - Amazon.com (AMZN) and Microsoft (MSFT) both experienced downgrades, falling more than 1% after revised ratings from Rothschild & Co Redburn. Cloudflare (NET) dropped over 3% due to global network issues impacting services like ChatGPT [6] Upcoming Market Events - Nvidia's fiscal Q3 2026 earnings report is highly anticipated, scheduled for release after market close on November 19, which is expected to provide insights into AI infrastructure demand [7] - Major retail earnings reports from Walmart Inc. (WMT), Target Corporation (TGT), and others are set for November 19, which will offer critical insights into consumer spending patterns ahead of the holiday shopping season [8] - A series of delayed economic reports, including the September jobs report and FOMC minutes, are expected this week, which could influence investor sentiment and Federal Reserve policy [9]

Core Viewpoint - Home Depot reported third-quarter adjusted earnings that fell below analyst expectations, leading to a 3% decline in stock price despite revenue slightly exceeding forecasts [1]. Financial Performance - Adjusted EPS for the third quarter was $3.74, which was lower than the consensus estimate of $3.84 [2]. - Revenue increased by 2.8% year over year to $41.4 billion, surpassing expectations of $41.18 billion [2]. - The revenue figures included approximately $900 million from the acquisition of GMS Inc., accounting for around eight weeks of consolidation [2]. - Comparable sales rose only 0.2%, with U.S. comparable sales up 0.1%, indicating ongoing softness in the housing market and consumer spending [2]. Future Outlook - Home Depot updated its fiscal 2025 outlook, projecting approximately 3% total sales growth and "slightly positive" comparable sales for the comparable 52-week period [3]. - Adjusted diluted earnings per share are expected to decline by roughly 5% from fiscal 2024's figure of $15.24 [3].

Core Insights - Floor & Decor has opened a new warehouse in Woodinville, Washington, enhancing its retail presence in the hard-surface flooring market [1] Company Summary - The new warehouse and design center is located at 19545 Woodinville Snohomish Road NE, Woodinville [1] - The store is staffed by approximately 35 full-time and 15 part-time associates [1] - Shane Hopka serves as the Chief Executive Merchant for the new location [1] Industry Context - Floor & Decor is recognized as a leading high-growth retailer in the hard-surface flooring sector, catering to both homeowners and professionals [1]

Company Performance - Home Depot's stock fell 6%, marking the worst performance in the S&P 500, after the company missed third-quarter earnings forecasts and lowered its full-year profit outlook due to a lack of storms and economic uncertainty affecting homeowner remodeling projects [4][9]. - Medtronic's stock rose approximately 5% after exceeding analysts' estimates for fiscal second-quarter sales and adjusted profit, driven by strong demand in its end markets [8][10]. Market Overview - Major U.S. equity indexes declined for the second consecutive day, with the S&P 500 dropping 0.8%, the Dow sliding 1.1%, and the Nasdaq losing 1.2%, ahead of several high-profile earnings reports and delayed jobs data [3]. - Concerns regarding high valuations in the artificial intelligence sector negatively impacted tech stocks, with Western Digital and Micron Technology shares falling 5.9% and 5.6%, respectively [5]. Regulatory Developments - Amazon and Microsoft shares decreased by 4.4% and 2.7%, respectively, following the announcement of investigations by European Union regulators into their cloud computing services [6].

Market Overview - US stocks retreated amid concerns about an AI bubble and the broader US economy, with significant earnings reports and jobs data on the horizon [1][3] - The Dow Jones Industrial Average fell approximately 1.1%, or nearly 500 points, while the Nasdaq Composite and S&P 500 declined by nearly 1.2% and roughly 0.8%, respectively [2] Company-Specific Insights - Nvidia's third-quarter results are anticipated, as investors reassess the sustainability of the AI-driven market rally; Nvidia's shares fell around 2.7% on Tuesday, contributing to a broader decline in Big Tech stocks [4] - Amazon and Microsoft also experienced declines of approximately 4.3% and 2.7%, respectively, reflecting the overall market sentiment [4] Economic Indicators - The upcoming September jobs report is crucial for shaping expectations regarding the Federal Reserve's policy moves, especially following the delay in official data releases due to the US shutdown [5] - ADP data indicated a slowdown in job losses in the private sector, while earnings reports from major retailers like Home Depot, Walmart, and Target are expected to provide insights into consumer strength ahead of the holiday season [6]

Core Viewpoint - Home Depot, Inc. has lowered its full-year profit forecast due to weaker demand, cautious consumer behavior, and a stalled housing market [1][4] Demand and Market Conditions - Despite stable underlying demand, an expected increase in demand for the third quarter did not occur, leading to disappointing results [2][3] - External economic conditions, particularly consumer uncertainty and pressure in the housing market, are negatively impacting home improvement demand [4][6] Housing Market Dynamics - The housing market is experiencing historically low turnover rates, currently at 2.9%, which limits new homeowners from undertaking large-scale projects [5] - The company is observing softer engagement in larger discretionary projects, where financing is typically utilized [5][6] Consumer Behavior - Consumers are hesitant to spend on major discretionary projects due to ongoing inflation and economic uncertainty, including concerns about job security [6][7] - The term "affordability" is frequently mentioned, indicating a significant concern among consumers regarding living costs [6] Company Performance and Outlook - Despite the challenges, Home Depot is executing well and believes it is gaining market share [7] - The company does not anticipate a near-term improvement in the macroeconomic environment or an increase in underlying demand [7][8]

Market Overview - The U.S. stock market is experiencing a decline, influenced by a global sell-off, with notable drops in Nvidia and Bitcoin prices, raising concerns about overvaluation [2][3] - The S&P 500 decreased by 0.4%, while the Dow Jones Industrial Average fell by 373 points (0.8%), and the Nasdaq composite dropped by 0.6% [3] Investor Sentiment - Despite recent market struggles, many large investors still anticipate further stock price increases, as indicated by a Bank of America Global Research survey [5] - The survey revealed that 45% of fund managers identified an AI bubble as the top risk for the market, surpassing concerns about the bond market, inflation, and trade wars [5] Company Performance - Nvidia's stock, which has seen significant growth, dropped by 1.8% on Tuesday, marking a 9.5% decline for the month [8] - Home Depot's stock fell by 3.4% after reporting weaker-than-expected summer profits, attributing the decline to a lack of storms and consumer uncertainty in the housing market [9] Global Market Impact - The bond market saw a slight easing, with the yield on the 10-year Treasury decreasing to 4.10% from 4.13% [11] - Internationally, stock indexes in Europe and Asia also fell, with Japan's Nikkei 225 dropping by 3.2% and South Korea's Kospi declining by 3.3% [12]