Here's how the U.S. stock market closed today:
S&P 500 (^GSPC): +0.06%, or 1.88 points
Dow (^DJI): +0.16%, or 41.03 points
Nasdaq (^IXIC) -0.13%, or 10.51 points
As August trading comes to a close, the real outcomes of the trade war between China and the U.S. will manifest on Sunday. That is when the U.S.'s 15% tariffs will take effect on select Chinese goods. Even though some of the impact on consumer items will be delayed, many apparel and household goods will be subject to the trade war.
In stock news, retailer Ulta Beauty's (NASDAQ: ULTA) shares dropped 29.55% due to less than expected same-stores sales growth during its second quarter.
Ulta's Chief Executive Officer Mary Dillon stated that "looking forward, we (Ulta) have updated our fiscal 2019 outlook to reflect the headwind we are currently seeing in the U.S. cosmetics market. We remain confident that our guest-centric, differentiated business model will drive continued market share gains and strong returns for our shareholders."
Other beauty retailers like Estee Lauder (NYSE: EL) and Revlon (NYSE: REV) have also had similar stock declines, reflecting less customer enthusiasm in the make-up markets.
Outside of beauty, Campbell Soup's (NYSE: CPB) market shares went up 5% following a strong earnings announcement today. Tesla (NASDAQ: TSLA) also saw gains of almost 2% after China announced that automakers vehicles will be exempt for 10% Chinese auto purchase tax.
Tuesday's market update will follow up on more announced earnings reports and see the initial outcome of the first batch of tariffs of the nearly year-long trade war. The U.S. stock market will be closed on Monday for a national holiday.