Still Waters Bring Mixed Pre-Market Levels

Tuesday, September 22nd, 2026

In terms of economic and/or earnings reports, we’re currently in some of the stillest waters all year. A grand total of zero monthly or quarterly releases pertaining to the overall economic health have come out so far this week, which will continue until tomorrow after the opening bell with flash PMI reports on Manufacturing and Services for September.

Pre-market indexes are mildly mixed at this hour: the Dow is +180 points while the Nasdaq is -27 points, coming off Monday’s record-high close. The S&P 500 splits the difference somewhat, -2 points, while the small-cap Russell 2000 is +12 points presently. Bond yields appear to have settled below crucial levels seen last week: +4.93% on the 10-year and +4.73% on the 2-year. Oil prices have also cooled: $93 per barrel (/bbl) on WTI and $98 on Brent crude.

As we spoke on yesterday in this space, Thursday looks to be the busiest day of this trading week for potential market drivers. The presidential summit in Washington DC will see Chinese President Xi Jinping visit with President Trump, likely to talk over all sorts of matters: the ongoing trade war between the two countries, coming to terms on how to deal with Iran (currently, China seems to be moving oil tankers out of the Strait of Hormuz without much hassle), controlling AI’s potential, and more. Also, Costco COST will report Q4 earnings after Thursday’s close.
 

Earnings Reports Out Today: AZO, THO, KBH

Earlier this morning, auto parts major AutoZone AZO reported mixed Q4 results: earnings of $56.05 per share was +2.77% above the Zacks consensus $54.54, while revenues of $6.59 billion were -1.38% short of estimates. The specialty retailer did grow revenues year over year and reported gross margin expansion. It is partly for these reasons the stock is up +3% ahead of the opening bell. For more on AZO’s earnings, click here.

Recreational vehicle (RV) maker Thor Industries THO, on the other hand, posted a mixed Q4 report this morning in the other direction: earnings of $0.78 per share missed the Zacks consensus by -16.13%, but beat on revenues: $2.31 billion came in higher than projected by +7.37% (though down from $2.52 billion reported a year ago). Shares are flat on the news, but still down -30% year to date. For more on THO’s earnings, click here.

After the closing bell this afternoon, we’ll get a hot take on the housing market with the Q3 earnings report from KB Home KBH. The Zacks Rank #5 (Strong Sell) company looks to have nowhere to go but up: -45.34% earnings growth is expected, with -20.3% negative growth expected on revenues. Shares could receive a boost from a strong upward surprise today, with the stock down -15% year to date. KB Home has met estimates in its prior two quarters.

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This article originally published on Zacks Investment Research (zacks.com).

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