The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

1930 ET [Dow Jones]--Ahead of next month's corporate results season in Australia, Morgan Stanley considers Charter Hall and Vicinity Centres to be the safest stocks in terms of their FY27 earnings guidance. "We see low likelihood of either stocks disappointing the Street," analyst Simon Chan says. Expectations that Charter Hall's earnings will grow by around 10% can be met even if FY27 inflows slow materially compared to 12 months earlier, MS says. Vicinity Centres's 5-6% earnings growth in FY27 is underpinned by strong interest rate hedging and the reopening of the Chatswood Chase mall. (david.winning@wsj.com; @dwinningWSJ)

1902 ET [Dow Jones]--Capital One Financial isn't observing the bifurcated economy that others have called out recently, where people with higher incomes continue to prosper while those with lower incomes increasingly fall behind. "We don't in our own numbers see this K-shaped economy that a lot of people talk about," Chief Executive Richard Fairbank says during a call with analysts, noting performance has been stable across the credit spectrum. "Although to be fair, we don't really participate in the lowest end of the marketplace where maybe those things are being experienced in the economy," he says. (kelly.cloonan@wsj.com)

U.S. consumers broadly remained resilient in the latest quarter, even as high energy prices added pressure, Capital One Financial's Chief Executive Richard Fairbank says. "When you pick up the news every day, one would think the world's falling apart," Fairbank says during a call with analysts. In reality, "the consumer continues to perform remarkably well," he says. Fairbank notes the unemployment rate in June was lower than in February before the Iran conflict began, while jobless claims remain low and job creation has rebounded over the past few months. Customers' bank balances and debt servicing burdens look a bit stronger than a year ago across income levels, he says, and in Capital One's domestic card business, credit metrics continued to improve on a year over year basis in the recent quarter.

(kelly.cloonan@wsj.com)

1843 ET - Australian stocks look set to rise at the open, following a positive lead by U.S. equities. Local futures are up by 0.2% ahead of Wednesday's open, suggesting that the S&P/ASX 200 will continue a climb that began early in the prior session. The benchmark index dropped into the red at Tuesday's open, but rallied through the day to close flat. Ahead of the session, Wesfarmers said it would spend up to US$500 million expanding its Mt Holland lithium mine in Western Australia state. U.S. stocks rose broadly as chip shares recovered and investors positioned for major technology earnings. The DJIA gained 0.7%, the S&P 500 rose 0.9%, and the Nasdaq Composite added 1.3%. (stuart.condie@wsj.com)

1635 ET - Capital One Financial's total credit-card delinquency rate fell both quarter-over-quarter and year-over-year, offering a sign that the bank's cardholders are doing a better job of keeping up with their bills. The company says total credit-card delinquency rate edged down to 3.4% in the second quarter, compared to 3.7% in the first quarter and 3.6% in the year-ago quarter. The delinquency rate in its consumer banking division, meanwhile, was lower than a year ago but higher than the first quarter, coming in around 4.3%. (kelly.cloonan@wsj.com)

1438 ET - Utz Brands' decision to go private after being taken over by Intersnack is the right path forward, said Jefferies analysts in a research note. The firm said the $14.25 takeout price was fair as consumer stress, SNAP benefit reductions and GLP-1 adoption made a competing bid unlikely. The deal comes as a string of other food companies, such as WK Kellogg, Kellanova and Tree House have also been taken over by private companies. The analysts said the pattern signals how companies see the private route as a way to transform the business away from public-market scrutiny. (grace.yoon@wsj.com)

1412 ET - Trump's new 50% tariffs should only affect a narrow slice of Canadian forest-product exports, says TD Cowen's Sean Steuart. He says in a report that major Canadian forest products are "seemingly exempted from the annex list provided by the U.S. government," and that only a few equities will likely be exposed to potential Section 338 tariffs. Steuart says the tariffs apply mainly to paper packaging, tissue, and certain specialty engineered wood products, while major Canadian exports like softwood lumber, OSB, and market pulp are excluded. He notes that KP Tissue is the most exposed, while Cascades and West Fraser Timber are only marginally exposed to the tariffs. (adriano.marchese@wsj.com)

1350 ET - Movement in energy prices is supporting the turnaround seen in grain futures this afternoon, says Oliver Sloup of Blue Line Futures. "I think you see strength in the energy complex; oil, heating oil, RBOB also offering support," says Sloup. Light crude is up 2.5%, to $85.28 a barrel, according to LSEG data, with Brent crude oil up 2.2%, to $91.19 a barrel. Grains like corn have been riding waves with energy prices, due to the usage of it in renewable fuels like ethanol. Most-active CBOT corn is up 0.6%, while wheat rises 0.5% and soybeans fall 0.3%. (kirk.maltais@wsj.com)

1336 ET -- D.R. Horton's average closing price in 2Q was $362,000, which is 30% lower than the U.S. national average for new home prices, COO Michael Murray says on a call with analysts. The $155,000 spread showcases the company's continued focus on affordability, Murray says. According to CEO Paul Romanowski, 65% of closings for the home builder's mortgage company in 2Q were to first-time home buyers. "Affordability constraints and cautious consumer sentiment continue to impact new home demand, and our operators will continue to adjust as market conditions evolve," the CEO says. (dean.seal@wsj.com)

1334 ET - As demand for homebuilding softened midway through 2Q, D.R. Horton says it prioritized gross margin instead of finding ways to push unit volume, management says on a call with analysts. As such, the company trimmed its full-year home delivery forecast to protect profitability. Doing so helped get home sales gross margin to 20.7% for the quarter, the high end of the company's guidance, as stick-and-brick costs came down 5%. While the company still has significant long-term growth ambitions, it is choosing to hold margin steady for now, management says. (dean.seal@wsj.com)

1301 ET - Food-delivery startup Wonder plans to use its latest round of financing to invest in a number of areas, including robotics and opening new locations, CEO Marc Lore says during an appearance on CNBC. Lore expects that with the help of robotics, Wonder's kitchens will be able to bring in nearly triple as much revenue as they do today with the same number of human employees, or about 12 to 15 people in a 2500 square foot kitchen, he says. One of the company's robots specializes in making bowl-based menu items, while another will handle just about any sauce recipe on demand, he says. Using its $650 million Series D financing round, which the company disclosed last week, Wonder will also continue to expand its footprint, Lore says. The company expects to open about 30 additional locations this year, he says.(kelly.cloonan@wsj.com)

1252 ET - Demand for restaurants is resilient even as customers face various pressures, D.A. Davidson analysts Matt Curtis and Andrew Tompkins said in a research note. A survey conducted by the analysts found that convenience and speed of service helped attract customers, while higher menu prices and personal financial pressures were the main headwinds. The firm says Texas Roadhouse, Chili's and The Cheesecake Factory are the best bang for your buck while Kura Sushi, Portillo's and Sweetgreen were perceived as more expensive. (grace.yoon@wsj.com)

(END) Dow Jones Newswires

July 21, 2026 19:35 ET (23:35 GMT)

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