Morning Call

Walmart reports earnings this morning following results from Target and Home Depot earlier this week. Jefferies' Corey Tarlowe previews the report. Plus, Cisco shares are rising on confidence over the company's AI capabilities. Deutsche Bank's Matthew Niknam explains. And, the S&P 500 is now on pace for its third negative week in a row. UBS Global Wealth Management's Mark Andersen and Truist's Keith Lerner discuss. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Target reports earnings this morning after warning of a potential revenue slump back in May. Keybanc’s Bradley Thomas previews the results. Plus, commercial real estate may be at risk as the U.S. assesses its credit rating. Marcus & Millichap’s Hessam Nadji discusses. And, the markets have been declining so far this week amid a seasonal rough patch. Van Lanschot Kempen’s Anneka Treon and ProShares Advisors’ Simeon Hyman explain. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Home Depot reports earnings this morning following back-to-back quarters of misses. D.A. Davidson’s Michael Baker previews the results. Plus, Saudi Arabia and the UAE have reportedly purchased Nvidia chips in pursuit of their AI ambitions. RBC Capital Markets’ Rishi Jaluria breaks down the AI stock winners and losers. And, futures are pointing towards a lower open after a mixed session yesterday. Baird’s Ross Mayfield and Capital Wealth Planning’s Kevin Simpson discuss. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Goldman Sachs is forecasting for the first Federal Reserve rate cut to come in the second half of next year. NewEdge Wealth’s Ben Emons explains. Plus, Mastercard is out with its latest SpendingPulse survey, showing the consumer remains strong. Mastercard’s Michelle Meyer discusses. And, what’s ahead for the new trading week? Harrison Street’s Christopher Merrill weighs in. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Markets are poised for a mixed open as Wall Street awaits the July PPI print. Principal Asset Management's Seema Shah, Van Lanschot Kempen's Anneka Treon, and Infracap's Jay Hatfield discuss. Plus, retailers are gearing up for a busy week of earnings, with Walmart, Home Depot, and Target all set to report. Oppenheimer's Brian Nagel previews the results. And, striking writers in Hollywood will return to the bargaining table today following more than 100 days of the strike. The Hollywood Reporter's Alex Weprin explains. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

July CPI is out this morning and is expected to show that the pace of price increases is easing. Citi Global Wealth’s Steven Wieting discusses. Plus, Disney shares are higher after the company posted a mixed quarter, where it beat on EPS but missed on revenue and subscriber estimates. Citigroup’s Jason Bazinet dives into the report. And, demand for weight-loss drugs continue to surge, with Novo Nordisk reporting a five-fold jump in sales for its WeGovy product. Barclays’ Emily Field explains. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Bank stocks are getting hit hard due to Italy's proposed windfall tax and Moody's downgrade of several regional lenders. The New York Times' Kate Kelly explains. Plus, oil prices are rising following weaker-than-expected Chinese inflation data. RBC's Helima Croft discusses. And, Disney reports earnings after the close today, with ESPN's new partnership with Penn Entertainment now front and center. CNBC.com's Alex Sherman previews the results. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

UPS reports earnings this morning as investors look for commentary on margins, volume, and the cost of labor negotiations. Bernstein's David Vernon lays out the set-up. Plus, it's been a rough few days for Apple since the company reported quarterly results. D.A. Davidson's Tom Forte explains. And, with futures pointing towards a lower open, how much further can this year's rally go? Wall Street Alliance Group's Aadil Zaman and Charles Schwab's Jeffrey Kleintop weigh in. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tech is coming off a big week of earnings, with Apple notching its worst single day performance of the year. Arete Research's Richard Kramer discusses the outlook. Plus, oil prices are holding steady after Saudi Arabia and Russia pledged to continue production cuts for another month. Kpler's Matt Smith explains. And, Chinese authorities are reportedly putting pressure on local experts to avoid discussing negative economic trends in China. Longview Global's Dewardric McNeal dives into the market impact. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Amazon shares are rising on an earnings beat, while Apple shares are falling following another quarter of revenue declines. CFRA’s Arun Sundaram and Synovus Trust’s Dan Morgan discuss. Plus, the monthly jobs report is out today, with economists expecting employers to have added 200,000 net new jobs last month. ZipRecruiter’s Julia Pollak explains. And, Saudi Arabia is extending its oil output cut of one million barrels per day through September. Energy Intelligence’s Amena Bakr breaks down the impact on energy prices. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.