Lowe’s Sees Home Improvement Turnaround Coming as Third-Quarter Sales Rise

On Bloomberg Businessweek Daily, hosts Carol Massar and Tim Stenovec discussed the October FOMC minutes, revealing that many officials are hesitant about a rate cut in December. Bloomberg analysts Michael McKee and Stuart Paul provided insights on this development. The episode also covered Blue Owl's decision to cancel a merger of its private credit funds, alongside discussions on Lowe's exceeding profit expectations and TJ Maxx's strong performance amid a rise in frugal consumer behavior.

Treasury yields increased as Federal Reserve officials indicated a likelihood of pausing interest rate cuts on December 10. This rise in yields reflects growing uncertainty in the market regarding future monetary policy decisions.

Truist Securities has lowered its stock price target for Lowe's to $256, citing pressures in the housing market. This adjustment reflects concerns about the company's performance amid ongoing challenges in the home improvement sector. The negative sentiment surrounding this decision indicates a cautious outlook for Lowe's in the current economic climate.

Major League Baseball has signed new media rights agreements with ESPN, NBCU, and Netflix, valued at a total of $800 million annually. These deals are expected to enhance the league's visibility and revenue streams through various platforms.

The Federal Reserve's recent meeting revealed significant divisions among officials regarding potential interest rate cuts next month. The discussions highlighted contrasting views on the economic outlook and the appropriate monetary policy response.

T.J. Maxx parent TJX Cos. anticipates a robust holiday season as the off-price retailer continues to attract budget-conscious shoppers seeking value amid inflation. The company is successfully leveraging its discount offerings to meet the needs of consumers looking for affordable shopping options.

Gold prices settled 0.4% higher at $4077.70, ending a four-session losing streak. Silver also saw an increase, settling 0.7% higher, marking gains in two of the last three sessions. This positive movement in precious metals comes amid fluctuating market conditions.

The increasing use of Chinese technology in European infrastructure is raising security alarms. Norway conducted a test by driving a Chinese-made bus down a mine to assess its vulnerability to hacking, highlighting concerns over the safety and reliability of such technology in critical systems.