Why Shares of Lowe's Were Moving Higher on Monday
Lowe's Companies (NYSE: LOW) was trading slightly higher on Monday, up as much as 2.1% in morning trading just after the opening bell. The home improvement retailer continued to trade in positive territory as the day went on, up about 1% at 2 p.m. ET to $194 per share.
The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite were all up slightly, about 0.1%, as of 1:30 p.m.
There were several factors on Monday that may have impacted Lowe's stock price. One, the National Association of Home Builders/Wells Fargo Housing Market Index was released on Monday, and it fell for the ninth straight month, dropping 3 points to 46. A score above 50 indicates a favorable outlook for home sales, while below 50 represents a negative outlook.
Source Fool.com
