5 things to know before the stock market opens Wednesday

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The S&P 500 was pacing to add to Tuesday's record close as Target and Lowe's reported blowout earnings.

2. Target, Lowe's deliver strong earningsblew past every forecast on Wall Street

for the second quarter as it attracted millions of new customers online during the coronavirus pandemic, setting a record for same-store sales that drove earnings up by 80% to $1.7 billion. Target's total revenue rose nearly 25% to $23 billion. Adjusted profit came in at $3.38 per share. The company said it was able to keep up the momentum in August.

on CNBC on Wednesday credited money not spent on vacations and other summer activities coming to retailers, not pandemic stimulus checks, for the company's stunning quarterly performance.

 

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