TLDR

MARKET RECAP → Stocks took a turn for the worse after the Fed minutes released today showed that officials see “upside risks” to inflation possibly leading to more rate hikes ahead… This contrasts with a market that expects the Fed to keep rates at 5.25-5.50% at its September meeting. All S&P (VOO) sectors ETFs closed lower with the exception of utilities (XLU), which managed to eke out a modest gain.

BARBIE BEATS BATMAN AT THE BOX OFFICE → ? The “Barbie” movie eclipses “The Dark Knight” at the box office, topping $357 million on Tuesday, making it the highest-grossing domestic movie in Warner Bros. Discovery’s (WBD) 100-year history.

TARGET’S TOUGH TIMES → ? Target’s (TGT) Q2 earnings and full-year forecast missed the mark. That said, shares of TGT rose +3% on the day, suggesting the results might not have been as bad as some feared.

Sean Horgan

Head of Investor Relations @ MoneyLion

$shorgan

Share the love, share the newsletter!

Did you miss a recent newsletter? See past editions here

Market%20Snapshot%20%28dynamic%20data%29%20%2813%29 1

Top%20Movers%20%28dynamic%20data%29%20%2810%29 1

Today’s S&P 500 Heatmap

Source: finviz.com

Bull vs. Bear Weekly Recap with JeffC ?

Today’s Top News

BARBIE BEATS BATMAN AT THE BOX OFFICE

? “Barbie” grossed over $537 million Tuesday, surpassing Warner Bros. Discovery’s (WBD) previous record holder, “The Dark Knight” ($536 million in 2008).

? The pink-themed collaboration between Greta Gerwig, Mattel (MAT), and Warner Bros. raked in over $1.2 billion globally since its July 21 debut.

? As the first billion-dollar film for Warner Bros. Discovery, Barbie’s success underscores the audience’s appetite for quality cinema experiences.

Source: shutterstock

TARGET’S TOUGH TIMES

? Target (TGT) missed Q2 sales expectations and reduced its full-year forecast, struggling to persuade shoppers to splurge beyond essentials.

? The company said it anticipates a mid-single-digit decline in comparable sales for the fiscal year, adjusting EPS expectations to $7.00-$8.00 from the previous $7.75-$8.75.

? Backlash from Target’s Pride Month collection played a role in weaker sales, but the company will continue to have collections for Pride Month and other heritage months going forward.