FactSet Evening Market Recap - Tuesday, 22-Aug

US equities were mostly lower in Tuesday trading and ended just off worst levels, though the downside was fairly limited. The Dow and S&P finished down 0.51% and 0.28%, respectively, with Nasdaq finished up 0.06%. Department stores were the worst performers in a weak retail space. Regional banks, semis, food, credit cards, airlines, and med-tech were some of other the laggards. Meanwhile, toys, casinos, builders, video games, streaming, hospitals and steel outperformed. Overall, disappointing retail earnings takeaways, dampened AI momentum, renewed ratings scrutiny on banks and some semblance of rate stabilization are a few of the issues in the market today. Looking ahead, the market is still largely in waiting mode ahead of Nvidia’s (NVDA) earnings release tomorrow post-close and Powell’s address at the Jackson Hole on Friday.