Earnings Report

Elevated interest rates, a shift to spending on services from goods and a resumption in student loan repayments have further strained appetite for electronics and home-office products.

Updated inventories and trendy logoless basics and jackets have allowed the company to rein in promotions and markdowns from a year ago, when it was dealing with softer consumer demand.

Lowe's saw a "greater-than-expected pullback in DIY discretionary spending, particularly in bigger ticket categories" in the third quarter, CEO Marvin Ellison said.

The results come after retail bellwether Walmart last week took a cautious stance going into the holiday shopping season, which is expected to grow at the slowest pace in five years.

Chipmaker Nvidia has been leading the AI charge this year, driving shares to a new record up 242% YTD and leaving little room for disappointment in its upcoming earnings report.

Nvidia investors are celebrating a winning streak for the stock as the chipmaker continues to dominate the race to own artificial intelligence with its own chips as well as developing strategic collaborations.

Bath & Body Works on Thursday lowered its annual sales forecast on signs of slowing demand ahead of the crucial holiday season, as customers cut back spending on non-essential items.

Walmart said shoppers slowed purchases at the end of October, in contrast to spending patterns earlier in the quarter, echoing comments from other retailers that have seen sales ebb.

Target has had a turbulent year as nearly half of its sales come from home goods, electronics, toys and apparel products that are deemed less essential.

Americans put big renovations and discretionary home-improvement projects on the back burner as they battle high food prices as higher interest rates continue to weigh.