Powell's Jackson Hole speech, Walmart earnings: What to watch this week

🛒 Walmart and rivals report earnings, for the clearest look yet at tariffs’ impact on consumers. Will CEOs talk about the elephant in the room?

When prices go up, the store is one of the most obvious places where consumers feel it.

When the nation’s biggest retailer, Walmart, reports results on Thursday, the results will offer the clearest picture yet of the consumer for corporate America, and answer whether U.S. tariffs are nudging prices higher.

As those signs emerge, the results - along with those of Walmart’s rivals this week - will also be a test of executives’ ability to talk candidly about the impact, as President Donald Trump pressures Walmart to swallow the costs of his trade war.

The results will also offer a chance for chains to talk about the back-to-school season and Amazon.com’s splash in grocery delivery. MarketWatch reports.


💊 Novo Nordisk shares are rising. The FDA approves another use for Wegovy:

Wegovy can now be used to treat a form of liver disease, Novo Nordisk says.

Novo Nordisk shares were climbing Monday after the Food and Drug Administration approved the popular weight-loss drug Wegovy to treat a form of liver disease.

The FDA approved Wegovy for use in what's called noncirrhotic metabolic dysfunction-associated steatohepatitis, or MASH, in adults with moderate to advanced liver fibrosis.

Novo Nordisk said an estimated 22 million people in the U.S. have MASH.

The drug has previously been approved for weight loss as well as reducing cardiovascular events in obese people. MorningStar reports.


🔨 Home Depot and Lowe's earnings face housing slowdown, tariffs test:

Home Depot and Lowe's report earnings this week amid big headwinds, including a stalled U.S. housing market recovery, tariffs, and a consumer allergic to big spending, with investors clamoring for insight on when the storm may pass.

Spring and summer were to be "the Super Bowl season" for home retail, Billy Bastek, Home Depot's executive vice president of merchandising, said on last quarter's earnings call. If so, it proved a bit of a fumble.

Building materials and garden supply retailers saw year-over-year sales drops of at least 4% each month from May to July, even as most others posted growth, according to data from the National Retail Federation (NRF).

"Right now, the consumer is more focused on essentials, and pricing is a key driver of activity," said Mark Mathews, chief economist at NRF. Reuters reports.


🪛 Copper prices have surged to record highs – and they could jump higher. Here’s why:

Copper is at the core of the American economy. It’s in the wires of our pervasive electronics, in the walls of homes and in the engines of cars. Experts say President Donald Trump’s plan for tariffs on the red metal could stymy the goal of boosting American manufacturing while potentially igniting inflation.

Trump’s July 8 announcement of a 50% tariff on copper imports beginning August 1 sent prices surging 13% in one day, up to a record high of $5.69 per pound.

It was the biggest single-day increase in copper prices on record going back to 1968, according to FactSet.

And those prices could just be a sign of things to come. A 50% tariff would be a “massive tax on consumers of copper,” Ole Hansen, head of commodity strategy at Saxo Bank, said in a note.

While Trump says his copper tariff is needed to spur domestic production due to national security concerns, there is no quick fix. CNN reports.


🚗 BYD tops global EV charts with 30% Q2 growth as Tesla sales sink 14% worldwide:

Global NEV sales, including Battery Electric Vehicles, Plug-In Hybrid Vehicles, as well as Fuel Cell Vehicles, reached 4.86 million units during the second quarter of 2025, market research firm Trendforce revealed in a report on Monday.

BYD retained its position as the leading BEV manufacturer, capturing over 18.3% of the total market share, while Tesla came in at the second spot with an 11.7% market share.

The EV giant's market share fell after experiencing a 14% YoY drop in sales in multiple regions, the report said. Benzinga reports.


🤝 Thoma Bravo is said to be in talks to buy software firm Dayforce:

Thoma Bravo is in talks to acquire human resources management software provider Dayforce Inc., according to people familiar with the matter.

The buyout firm is planning to take the Minneapolis-based company private in a deal that could be announced as soon as the coming weeks, the people said, asking not to be identified as the matter is private.

Shares of Dayforce rose as much as 22% in pre-market New York trading on Monday. The company, whose shares also trade on the Toronto Stock Exchange, had a market value of about $8.4 billion at the close on Friday. Yahoo Finance reports.

“The most important quality for an investor is temperament, not intellect.”

- Warren Buffett

Sourced in: "Warren Buffett Speaks: Wit and Wisdom from the World’s Greatest Investor”, by Janet Lowe, published in 1997.

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