Why Home Depot and Walmart Told Very Different Stories Tuesday
The stock market held its own on Monday, and that seemed to give investors more confidence heading into Tuesday's trading session. After such a big drop in recent months, more optimistic market participants are looking for signs that some of the tough conditions that have hit markets lately could start to subside. As of 8:30 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were up 364 points to 32,523. S&P 500 (SNPINDEX: ^GSPC) futures had gained 59 points to 4,064, while Nasdaq Composite (NASDAQINDEX: ^IXIC) futures had jumped 225 points to 12,470.
A couple of major retailers reported their financial results Tuesday morning, and although many of the same challenges face both of them, their stock prices moved in opposite directions. Home Depot (NYSE: HD) got a boost as demand for home improvement materials remained strong, but Walmart (NYSE: WMT) shares moved sharply lower as its customers felt inflationary pressures.
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Source Fool.com
