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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Mar 01, 2023
Page
8
Lowe's reports fourth quarter earnings and revenue growth from a year earlier but signals it may be the weakest quarter of 2022 as inflation, high mortgage rates, and a cooling housing market weigh on home sales. Home Depot likewise posts solid results but warns on 2023 profits.
Dollar Tree will announce its fourth quarter results as Wall Street expects a slight profit dip from last year yet the strongest quarter of 2022 with solid revenue growth. Consumer spending stays robust though inflation pressures wallets and many retailers remain wary of a possible economic downturn later in the year.
U.S. crude oil and wholesale gasoline prices rose Tuesday while heating oil and natural gas ended the day little changed. Gold and silver prices edged up slightly, indicating modest gains across major commodities.
Stocks ended February on a weak note with the S P 500 down 0 3 percent and the Dow and Nasdaq lower. Treasury yields were mixed as markets digested mixed earnings signals from Adapt Health and Progyny amid calls for lower forecasts and stronger Q4 results.
Kansas secures a 4 billion Panasonic battery facility in De Soto with a 829.2 million incentive package, expected to employ about 4,000 workers at $30 an hour and spur 4,000 more regional jobs. Governor Laura Kelly and Commerce Secretary Tara Koell Toland say the project shifts Kansas toward a new manufacturing era and mirrors past aerospace strength. Rachel Mipro reports.
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