Why Home Depot Stock Was Slipping Today
HDHome Depot(HD) The Motley Fool·2024-02-14 02:39

Shares of Home Depot (HD -1.84%) were down Tuesday in response to a hotter-than-expected inflation report, which further cooled off hopes that interest rates would come down soon. Since the home improvement retailer is sensitive to interest rates, the stock fell on the news. As of 1:17 p.m. ET, it was down 1.8% after having been off by as much as 3.2% earlier in the session. No relief in sight for the housing market Home Depot's fortunes are closely tied to conditions in the housing market, as home sales dr ...