Stocks fell to start the holiday-shortened week as Nvidia
Here's how the market settled on Tuesday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In the News: Capital One Financial
Under the agreement, Discover shareholders would receive 1.0192 shares of Capital One for each Discover share, respersing a roughly 25% premium from Discover's Friday closing price . The company's expect the deal to close by early 2025, with Capital One shareholders holding 60% and Discover shareholders owning 40% of the new company after completion.
However, Raymond James analyst Ed Mills said Monday that the merger could face heightened security from U.S. lawmakers, as well as from upcoming updates from the office of the Comptroller of the Currency and the Department of Justice regarding merger guidance for financial institutions.
"This deal is much larger than any of our DC contacts have been telling us is possible for regulatory approval in the current DC climate, especially after the bank panic of last March. The press release provides a deal close of 4Q24 or early 2025 - this appears to be an aggressive timeline," said Mills in a note on Tuesday.
On the Earnings Front: Walmart
"We believe VIZIO's customer-centric operation system provides great viewing experiences at attractive price points. We also believe in enables a profitable advertising business that is rapidly scaling," said Seth Dallaire, executive VP and chief revenue officer at Walmart U.S., in a statement.
Home Depot
"We're not quite there yet, but the pressures we saw in 2023 are receding," McPhail told the news outlet.
For Wednesday: Market participants will react to the minutes from the Federal Reserve's latest policy meeting for more clues on central banker's next moves regarding interest rates, alongside earnings reports from companies including Palo Alto Networks