Home Depot Inc. (HD)

$ 410.45
   
  • Change Today:
    $10.45
  • 52 Week High: $418.61
  • 52 Week Low: $309.20
  • Currency: US Dollars
  • Shares Issued: 992.00m
  • Volume: 3,722,586
  • Market Cap: $407,166m
  • RiskGrade: 98
  • Beta: 0.71

US pre-open: Stocks stumble as China data continues to disappoint

By Digital Look

Date: Tuesday 15 Aug 2023

LONDON (ShareCast) - (Sharecast News) - US stock futures were pointing to a weak start on Wall Street on Tuesday, as investors reacted to fresh concerns about the Chinese economy on a quiet day for corporate earnings.
In pre-market trade, the Dow Jones and S&P 500 were seen down 0.4%, while the Nasdaq was showing losses of 0.3%.

Economic data from China overnight revealed that July retail sales rose 2.5% on an annualised basis, well below expectations of a 4.5% increase. Meanwhile, industrial production increased 3.7% year on year. missing the 4.4% increased by analysts.

Fixed asset investment rose by 3.4% for the first seven months of the year from a year ago, below expectations of a 3.8% increase.

Also, the country's statistics bureau controversially suspended publication of youth unemployment figures.

Meanwhile, in a surprise move, the People's Bank of China cut the medium-term lending facility rate - the interest for one-year loans to financial institutions - from 2.65% to 2.5%.

"Policy action overall has underwhelmed, and investors are looking for a lot more welly before being more confident that the economy may have more insulated from the downturn," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

Back in the US, retail sales figures for July will be out at 1330 ET on Tuesday, and are expected to show that growth picked up from 0.2% to 0.4% last month.

The market is still keeping its eye fixed on US economic data after mixed inflation figures last week did little to settle investors' fears about whether or not the Federal Reserve will pause hiking interest rates at its next policy meeting.

In company news, as second-quarter earnings season starts to wind down, eyes will turn to the last remaining companies on the bill. Retail heavyweights Home Depot, Walmart and Target are all due to report this week.

Home Depot was up first, beating forecasts for both revenue and profits. However, sales still declined 2% year-on-year to $42.92bn and the company maintained guidance for a 2% to 5% fall in revenues for the full year. The company unveiled a $15bn share buyback programme alongside its results.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Home Depot Market Data

Currency US Dollars
Share Price $ 410.45
Change Today $ 10.45
% Change 2.61 %
52 Week High $418.61
52 Week Low $309.20
Volume 3,722,586
Shares Issued 992.00m
Market Cap $407,166m
Beta 0.71
RiskGrade 98

What The Brokers Say

Strong Buy 8
Buy 13
Neutral 12
Sell 2
Strong Sell 1
Total 36
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Trades for 21-Nov-2024

Time Volume / Share Price
15:59 100 @ $410.44
15:59 100 @ $410.44
15:59 100 @ $410.43
15:59 100 @ $410.44
15:59 100 @ $410.42

Top of Page