1. Dow looks to open at record despite Home Depot decline
Traders and financial professionals work on the floor of the New York Stock Exchange.
Drew Angerer | Getty Images News | Getty Images
U.S. stock futures were still pointing to more records at Wall Street’s open on Tuesday despite an over 4% premarket decline in Dow stock Home Depot on mixed third-quarter results. Investors also seem to be taking a morning off from worrying about the progress in U.S.-China trade talks. The Dow Jones Industrial Average, S&P 500 and Nasdaq rose modestly Monday, but the gains were enough to push all three into record territory again. For November, as of Monday’s close, the Dow and Nasdaq were up more than 3%, while the S&P 500 was up nearly 2.8%. The Dow on Friday finished above 28,000 for the first time ever.
2. Home Depot warns on outlook after missing on revenue
Scott Mlyn | CNBC
Home Depot on Tuesday reported quarterly revenue and same-store sales growth that were below estimates while eking out a slight profit beat. The company warned about full-year sales and comps guidance. The CEO said in the earnings news release that “sales were below our expectations driven by the timing of certain benefits” associated with strategic investments. Shares of Home Depot had hit a 52-week high Monday, rising 39% for the year. Shares of smaller rival Lowe’s, which is set to report its quarterly results Wednesday morning, were up 24% in 2019.
3. Boeing gets $5.6 billion in bids for troubled 737 Max
Boeing 737 MAX airplanes are seen parked on Boeing property along the Duwamish River near Boeing Field on August 13, 2019 in Seattle, Washington.
David Ryder | Getty Images
Boeing managed to reach Day 3 of the Dubai Air Show with $5.6 billion worth of bids for 50 of its embattled 737 Max jets. That total includes a letter of intent Tuesday from Kazakhstan carrier Air Astana for 30 of the Max jets, in a potential sales deal valued at $3.6 billion. A day earlier, Turkey-based airline SunExpress added a firm order for 10 Max planes, worth $1.2 billion at list prices. The entire Max fleet has been grounded globally since March, following the second of two devastating crashes that killed 346 people.
4. New York AG investigates WeWork and its founder
An interior view shows a WeWork office in San Francisco, September 30, 2019.
Kate Munsch | Reuters
WeWork confirms that it’s heard from the New York state attorney general’s office following a Reuters report that the AG is investigating the workspace-sharing start-up. The company, which is expected to lay off thousands of employees beginning this week, has been facing a rough few months during which its IPO was scuttled over concerns about steep losses and corporate governance. WeWork founder Adam Neumann was also fired as CEO. Among the issues the AG is said to be examining is whether Neumann indulged in self-dealing to enrich himself. A spokesperson for Neumann declined to comment.
5. Trump impeachment hearings enter new phase
House Intelligence Committee Chairman Adam Schiff, D-Calif., joined by other House Democrats, speaks during a press conference after the House Intelligence Committee hearing on the impeachment inquiry of President Trump in Longworth Building on Wednesday Nov. 13, 2019.
Caroline Brehman | CQ-Roll Call, Inc. | Getty Images
After an opening week of testimony from diplomats who described how U.S. policy toward Ukraine came to be dominated by President Donald Trump‘s political goals, the House Intelligence Committee on Tuesday shifts to Trump’s July 25 phone call with Ukraine’s president. During that call, Trump asked Volodymyr Zelenskiy to investigate Democrat Joe Biden. Four witnesses are scheduled to testify in two separate hearings, beginning at 9 a.m. ET. Trump, who has called the impeachment process a witch hunt, suggested Monday he would be open to testifying publicly or in writing, in response to an invitation to tell his side from House Speaker Nancy Pelosi in a Sunday interview on CBS’ “Face The Nation.”
— Reuters contributed to this report.