U.S. stock futures are pointing slightly lower as investors parse retail earnings; Target (TGT) shares are dropping in premarket trading as the retailer named a new CEO amid slumping sales; Lowe's (LOW) stock is moving higher after the home-improvement company reported better-than-expected profit and raised its full-year revenue outlook; Federal Reserve meeting minutes come today as investors ready for remarks from Fed Chair Jerome Powell later this week; and La-Z-Boy (LZB) shares are plunging after the furniture maker reported weak profit and delivered an underwhelming outlook.
1. US Stock Futures Point Slightly Lower as Investors Process Retail Results
U.S. stock futures are moving lower as investors digest retail earnings reports and look ahead to Federal Reserve meeting minutes released later today. Nasdaq futures are lower by 0.2% after the tech-focused index plunged by 1.5% in the prior session, while S&P 500 futures are down 0.1% after also declining Tuesday. Dow Jones Industrial Average futures are ticking lower after the blue-chip index closed fractionally higher after touching an all-time high early in the session. Bitcoin (BTCUSD) is higher, trading at just under $114,000. The yield on the 10-year Treasury note is little changed. Oil and gold futures are both moving higher.
2. Target Names New CEO Amid Sales Decline
Target's (TGT) shares are sinking 10% in premarket trading as the retail giant announced its CEO will be stepping down as sales continue to fall. Target reported that net sales declined by 0.9% from the prior year to $25.21 billion, slightly ahead of Visible Alpha consensus estimates, while adjusted earnings per share of $2.05 was in line with them. The store announced a change in leadership amid the decline, appointing Chief Operating Officer Michael Fiddelke, a 20-year veteran of the company, to replace Brian Cornell as the company's CEO, effective Feb. 1, 2026, when Cornell will become executive chair.
3. Lowe's Makes $8.8B Acquisition, Lifts Sales Outlook
Shares of Lowe's (LOW) are rising more than 3% in premarket trading after the hardware retailer posted better-than-expected quarterly profit and raised its yearly sales outlook. Lowe's reported adjusted earnings per share (EPS) of $4.33, above the $4.24 consensus projection of analysts polled by Visible Alpha. Sales of $23.96 billion and comparable sales growth of 1.1% were essentially in line with estimates. The company also nudged its full-year sales outlook higher. The results came a day after Lowe's rival Home Depot (HD) reported increasing momentum in the home-improvement sector. Additionally Wednesday morning, Lowe's announced that it would acquire drywall maker Foundation Building Materials for $8.8 billion.
4. FOMC Minutes Set Stage for Powell’s Comments This Week
Ahead of Federal Reserve Chair Jerome Powell's highly anticipated Jackson Hole speech Friday, investors will get a look at how central bankers are viewing the economy and inflation when the Fed releases the minutes from its July meeting at 2 p.m. ET today. The minutes will describe the deliberations of Federal Open Market Committee (FOMC) before it voted to keep interest rates unchanged, despite pressure from President Donald Trump to lower rates. The minutes will likely provide more information about the two FOMC members who voted for rate cuts at the July meeting.
5. La-Z-Boy Stock Dives on Weak Profit, Soft Revenue Outlook
Shares of La-Z-Boy (LZB) are dropping nearly 25% in premarket trading after the furniture maker reported weaker-than-expected fiscal 2026 first-quarter profit and an underwhelming revenue outlook as furniture sales slow. The company reported adjusted EPS of $0.47, below the $0.53 estimate of analysts tracked by Visible Alpha. La-Z-Boy sees current-quarter sales between $510 million and $530 million, with the midpoint below Visible Alpha consensus of $528 million.
