Stocks Decline Ahead of Nvidia Earnings; Home Depot Cautious on Housing Outlook Despite Upbeat Wall Street Forecasts; Walmart to Buy Vizio for Ads and Data; Capital One-Discover Deal Poses Payments Threat
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US stocks closed lower on Tuesday, led by tech stocks, ahead of Nvidia earnings on Wednesday which could be a turning point for markets.
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Home Depot sees no "hockey stick recovery" for the housing market in 2024 amid ongoing high inflation and interest rates.
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Wall Street strategists from Goldman Sachs and UBS boosted their S&P 500 targets to 5,200 and 5,400 respectively on stronger earnings outlooks.
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Walmart confirmed plans to acquire TV maker Vizio to boost its advertising and data capabilities but won't compete directly in streaming.
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Capital One is acquiring Discover Financial in a $35 billion deal that could eventually threaten Visa and Mastercard's payments volume.