NEW YORK, Jan 9, 2026, 11:27 ET — Regular session
- Mohawk Industries shares up about 3% in late morning trade after a 6.9% jump on Thursday
- Wolfe Research cut the flooring maker to “Peer Perform,” flagging a slower repair-and-remodel pickup
- Traders are watching rates, the $114 area on charts, and the company’s next earnings update
Mohawk Industries shares rose about 3% to around $117.7 in late morning trading on Friday, keeping the flooring maker on the front foot after a sharp rise the prior session.
The stock has moved with the housing tape this week, as investors react to policy headlines and fresh data that can swing mortgage-rate expectations. For Mohawk, rates matter because big-ticket home projects tend to get delayed when borrowing costs stay high.
U.S. job growth slowed in December and the unemployment rate dipped to 4.4%, data showed on Friday, reinforcing a view that the Federal Reserve may hold rates steady at its January meeting. “Hiring is still stuck in stall speed,” said Olu Sonola, head of U.S. economic research at Fitch Ratings. (Source: https://www.reuters.com/business/us-job-growth-slows-december-unemployment-rate-eases-44-2026-01-09/)
Wolfe Research, meanwhile, downgraded Mohawk to “Peer Perform” from “Outperform” on Wednesday, taking a more neutral stance after the stock’s 2025 run. Analyst Trevor Allinson wrote that a “remove and replace” recovery — homeowners ripping out old floors and putting new ones in — looked increasingly unlikely in the first half of 2026. (Source: https://www.tipranks.com/news/the-fly/mohawk-industries-downgraded-to-peer-perform-from-outperform-at-wolfe-research-thefly)
Thursday’s surge also pushed Mohawk above its 200-day moving average — the average closing price over the last 200 sessions that many chart-watchers use as a long-term trend line — around $114.37. The stock traded as high as $114.97 on the day, after ranging between $96.24 and $143.13 over the past 52 weeks, Nasdaq data showed.
Housing-linked shares broadly found support after Trump said he was ordering officials to buy $200 billion of mortgage bonds backed by home loans, part of an effort to bring down borrowing costs. In building products, Wolfe upgraded decking maker Trex in the same sector call that cut Mohawk, arguing valuations set up differently across the group.
But the policy push may not translate cleanly into cheaper homes or a quick rebound in renovation demand. “Every little bit will help push mortgage yields lower, but this might be self-defeating in terms of housing affordability,” said Brian Jacobsen, chief economic strategist at Annex Wealth Management. (Source: https://www.reuters.com/business/finance/us-mortgage-lenders-rally-trump-administrations-plan-buy-200-billion-bonds-2026-01-09/)
Next up, traders will be testing whether Mohawk can hold above the $114 area after the break over the 200-day line, and how rate bets settle into the Fed’s Jan. 27-28 meeting. The next company-specific catalyst is Mohawk’s quarterly earnings update, which is expected on Feb. 5, according to Nasdaq’s earnings calendar.
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