5 things to know before the stock market opens Wednesday

People walk past the New York Stock Exchange (NYSE) on Wall Street on July 12, 2022 in New York City. Angela Weiss | AFP | Getty Images Here are the most important news items that investors need to start their trading day: 1. A lot more earnings to go Markets have kept their heads above water so far this month, even as economic data point to a potential recession and corporate earnings have been mixed, at best. On the latter point, more than 70 companies listed on the S&P 500…

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Marriott opens new Ritz Carlton in Manhattan as NYC tourism roars back

The Ritz-Carlton in the NoMad neighborhood of New York City. Seema Mody | CNBC Marriott next week will open a swanky new Ritz Carlton hotel in Manhattan, marking a bet on the surge in luxury travel and the hopeful return of business travelers this fall. “It’s got 10,000 square feet of meeting space, a 7,000-square-foot spa, and four food and beverage outlets. I think it’s uniquely positioned to take care of that pivot from leisure travel to business travel,” Marriott CEO Tony Capuano told CNBC on Tuesday. The debut of…

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Developers are turning to master-planned communities to solve the housing affordability crisis

Americans who are short on cash to make rent may need to face an uncomfortable reality: Conditions will likely get worse before they get better. U.S. housing supply fell to the lowest levels observed in over 20 years, according to the National Association of Realtors. That’s dramatically pushing up prices for consumers, and catching the attention of leaders. “The most immediate challenge is a lack of lumber and other kinds of building materials,” says Rob Dietz, chief economist at the National Association of Home Builders. “The other challenge, and it’s…

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Stocks making the biggest moves after the bell: Costco, Gap, Broadcom & more

A shopper wearing a protective mask checks out at a Costco store in San Francisco, California, on Wednesday, March 3, 2021. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell on Thursday: Costco – Costco shares fell 1.3% after the company posted mixed fiscal second-quarter results. Costco logged earnings per share of $2.14 on revenue of $44.77 billion. Analysts polled by Refinitiv expected earnings per share of $2.45 on revenue of $43.78 billion. To be sure, the company noted its digital sales…

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