New York, Feb 1, 2026, 11:24 a.m. ET — Market closed.
- Home Depot closed Friday up 0.75%, defying the weaker market trend.
- Attention shifts to rate forecasts following the appointment of a new Fed chair and a hotter-than-expected inflation report.
- Coming up next: the U.S. jobs report on Feb. 6, followed by Home Depot’s earnings on Feb. 24.
Home Depot’s shares climbed 0.75% on Friday, ending the session at $374.59. Despite the gain, the stock remains roughly 2.4% lower compared to last week, with around 3.8 million shares changing hands. (Investing)
Wall Street is closed Sunday, so all eyes shift to Monday’s session (Feb. 2). Home Depot frequently acts as a barometer for housing turnover and major renovation activity—both highly sensitive to shifts in rate expectations.
Expectations took another turn late last week. U.S. stocks dropped Friday following Donald Trump’s nomination of Kevin Warsh to replace Jerome Powell at the Federal Reserve, coupled with a stronger-than-expected inflation report that rattled investors. “Markets are recalibrating to Trump’s pick of Kevin Warsh … and the outlook for monetary policy,” said Michael Hans, chief investment officer at Citizens Wealth. (Reuters)
The producer price index (PPI), which tracks wholesale price changes, rose 0.5% in December—the largest increase in five months—according to U.S. Labor Department data that hinted at some tariff-related cost pass-through. Carl Weinberg, chief economist at High Frequency Economics, said the report “validates the pivot of the Fed away from labor market risks back toward price stability,” after the central bank kept rates steady in the 3.50%-3.75% range. (Reuters)
Housing-focused stocks traded in a narrow range. Lowe’s edged up 0.16% Friday; Masco dipped 0.29%. (Investing)
Not all company news has hit the tape yet. Home Depot announced earlier this week plans to cut 800 corporate positions linked to its Atlanta store support center. The retailer also said corporate employees must return to the office full-time starting the week of April 6, with severance and transitional benefits on offer. (Reuters)
That’s crucial since investors want tight cost control without hurting in-store performance. The home-improvement sector has been volatile, and even slight changes in foot traffic or pricing can move the stock.
The next big test for the market is arriving quickly. Wall Street is gearing up for a busy week packed with earnings reports and the U.S. January nonfarm payrolls— the government’s key monthly jobs update. A Reuters poll anticipates job growth of just 64,000. “For those companies where expectations have become very, very lofty, the onus is going to be on them to deliver,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors. (Reuters)
The setup works both ways. Strong jobs data or persistent inflation might push yields higher, weighing on housing-related stocks. On the flip side, a weak report could raise concerns over consumer spending and contractor demand.
The Bureau of Labor Statistics will release the jobs report at 8:30 a.m. ET on Feb. 6. Home Depot is set to report its quarterly earnings on Feb. 24 at 9:00 a.m. ET, offering a fresh glimpse into demand, margins, and management’s outlook for the year. (Bureau of Labor Statistics)
