1. A quiet opening Tuesday is expected on Wall Street as the S&P500 And Nasdaq-Composite are expecting their ninth consecutive positive day. The indices are both on their longest winning streak since the end of 2023. Following Monday’s moves, the S&P Short Range Oscillator, my trusted momentum indicator, moved into overbought territory.

2. Eli LillyThe obesity drug Zepbound reduced the risk of developing type 2 diabetes by more than 90% in obese or overweight people with prediabetes, the company said. The results of the study, which lasted about three years, are the latest data to show that Zepbound offers health benefits beyond weight loss. That’s evidence that health insurers should cover Zepbound. Shares of club name Lilly rose more than 1% on Tuesday.

3. Club participation Palo Alto Networks reported better-than-expected quarterly results and is now poised to take market share from other cybersecurity vendors. Finally, analysts are following management’s lead and putting more emphasis on remaining performance obligation (RPO) than billings. Palo Alto CEO Nikesh Arora told me Monday night that bundling cyber solutions, which he calls “platformization,” is the future of the industry. Palo Alto’s platformization turn has caused a rough few quarters, but things appear to be back on track.

4. Shares of Lowe’s were slightly higher, although the home improvement retailer lowered its full-year forecast for sales, comparable sales growth and profit. In the quarter under review, Lowe’s said the 5.1% decline in comparable sales was due to people completing fewer optional home projects and weather affecting seasonal purchases. Lowe’s and its competitors Home Depot both would benefit from a more robust US real estate market, which could be achieved through a Fed interest rate cut.

5. Citigroup raised its price target on Foot Locker to $33 per share from $27 and maintained its neutral rating on the footwear retailer. Analysts see a balanced risk-reward ratio for Foot Locker’s earnings report next week, but noted that the performance of brands such as New Balance, Hoka and On was good and helped offset weakness in NikeHow long can Nike’s underperformance continue?

6. Club name TJX Companies reports earnings on Wednesday. The off-price retailer’s stock has shown reliable performance in recent years, but can be somewhat volatile on quarterly earnings releases. Elsewhere in the industry, JPMorgan raised its price target for Burlington Businesses to $346 per share to $288, and said the company had the greatest potential in the group to significantly exceed comparable store sales estimates.

7. A round of price target cuts for Estee Lauder after the cosmetics maker’s disappointing fiscal 2025 forecast on Monday showed it’s not out of the woods yet. Estee Lauder is simply a disastrous stock, and the longtime CEO’s planned departure isn’t coming fast enough. The chaos continues. We abandoned the name on Monday.

8. Edward Jones began reporting on the club name Advanced micro devices with a Buy rating. Analysts argued that the chipmaker is primed for disproportionate growth for several reasons, including its data center business for AI chips and traditional processors. In addition, the company touted AMD’s opportunity to do more with the Xilinx acquisition, which will be completed in 2022, and to benefit from the adoption of AI PCs. We are also bullish on its AI chip business and AI PC thesis.

9. Citigroup opened a watch list for positive catalysts on Abercrombie & Fitch ahead of the retailer’s earnings report on August 28. The company said it was on track for another significant increase in profits with margin improvement. It hasn’t missed that mark. Shares have risen more than 280% in the past 12 months.

10. Boeing Boeing has suspended test flights of its 777X aircraft after damage was discovered in one of the jet’s structural parts. Boeing was due to begin deliveries of the wide-body aircraft next year, but it is unclear whether the suspension of test flights will affect that schedule. Shares lost more than 1% on Tuesday.

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