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It was bound to happen sooner or later. The S&P 500 just ended its eight-session winning streak today, and it did so with a mere whimper: -0.20% on the day. The start of August began the rollercoaster ride down for the major indexes, and the S&P took out that level last week. Due to a lack of wind in our sails at present, it’s not really a surprise to see a flattish trading day.

The Dow was very similar, down -71 points or -0.15% on the session, and the Nasdaq was a tad lower, -36 points or -0.33% today. The Russell 2000 was the biggest mover, and it was notably downward: -1.17%. The small-cap Russell, rather unsurprisingly, has made the biggest swings both up recently and down during that early-month drop.

Toll Brothers Beats Estimates in Fiscal Q3
 

Nationwide luxury homebuilder Toll Brothers (TOL - Free Report) outperformed expectations in its fiscal Q3 report after the closing bell today. Earnings of $3.60 per share easily surpassed the $3.28 expected (though below the $3.73 per share reported in the year-ago quarter. Revenues narrowly outpaced the Zacks consensus to $2.72 billion in the quarter. The company also repurchased 2.1 million shares in the quarter, on the way to buying back $600 million in shares in fiscal 2024.

Shares are up +2.4% in late trading on the news, adding to its +32% growth year to date. Though it was a softer quarter overall, increased demand in July led to an overall optimistic outlook. The average delivery price for a Toll Brothers home in the quarter was $968K, above the $961K analysts had been expecting.

Retail Earnings Continue Tomorrow: TGT, M, TJX
 

One of the last “big” days of the calendar Q2 earnings season in the Retail space is tomorrow. Before the open, we’ll see results from Zacks Rank #3 (Hold)-rated Target (TGT - Free Report), Zacks Rank #2 (Buy)-rated TJX Stores (TJX - Free Report) and Zacks Rank #2-rated Macy’s (M - Free Report). All three are expected to bring earnings growth to the quarter — in Target and Macy’s case (off easier comps), more than +20%. Only Macy’s is expected to post revenues slightly under a year ago.

After tomorrow’s close, apparel retailer Urban Outfitters (URBN - Free Report) joins Montana-based software services company Snowflake (SNOW - Free Report) and pandemic-winning stock Zoom Video (ZM - Free Report). There will be others in Retail and Tech reporting later this week, but the next time we’ll see a marquee name will be next week, when “Magnificent 7” leader NVIDIA (NVDA - Free Report) reports Q2 results.

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