Five things you need to know before the market opens on Tuesday August 22:
1. -- Stocks higher, Treasury yields steady as markets adjust to 'higher for longer' rates
The new reality of 'higher for longer' interest rates has 10-year Treasury bond yields trading at levels last seen in 2007, with stocks fighting for gains in a tough August climate.
2. -- Lowe's earnings top Street forecasts, repeats full year profit forecast
Lowe's followed its larger rival Home Depot in repeating its full-year profit forecast even as it topped Street estimates for its second quarter earnings.
3. -- Activision gains as Microsoft tweaks $69 billion takeover to appease UK regulators
Microsoft has told U.K. competition authorities it will sell video game streaming rights to France's Ubisoft if its $69 billion takeover of Activision is approved.
4. -- Macy's earnings on deck with margins, changing consumer habits in focus
Macy's needed heavy discounts to shift spring and winter inventory, and that may clip margins and hurt profits over its key summer quarter.
5. -- S&P Global lowers several U.S. bank ratings, citing 'tough' climate for lenders
S&P Global, following a similar move by Moody's lowered the credit rating of several regional lenders late Monday.
