Dow Falls into Correction Territory, Lululemon Loses its CEO
Markets opened Tuesday morning by continuing their recent sell-off, with the Dow falling as much as 560 points to start the day. The index breifly fell into correction territory, down more than 10 percent from its all-time high hit just a few days ago.
Lululemon's stock was also down after news CEO Laurent Potdevin resigned over his "conduct." It's the latest issue for the company, whose founder stepped down in 2015 amid a series of controversial comments.
Plus Apple supplier Cirrus Logic shares dropped after the company said slowing smartphone demand hit results in its latest quarter. General Motors shares, though, were on the rise after the automaker said earnings and revenue were better than expected for the quarter.
At some 940-pages, the legislation is a sprawling collection of tax breaks, spending cuts and other Republican priorities, including new money for national defense and deportations.
Chris Versace, CIO at Tematica Research, joins to discuss earnings season trends, Flash PMI signals, Walmart’s strategy updates, and Nike’s evolving outlook.
Andrew Nusca, Editorial Director at Fortune, dives into WhatsApp’s first-ever ads rollout —and how Meta’s ad push intensifies its showdown with OpenAI.
