Home Depot Stock Bucked Friday’s Rout. Monday Could Be the Real Test
With the New York Stock Exchange closed for the weekend, Home Depot’s next test comes Monday after the home-improvement retailer held up better than the broader market in Friday’s selloff. The stock ended at $310.78, up 0.27% on the day, but still lost about 2.0% for the week after closing the prior Friday at $317.14. That relative strength matters now because Home Depot is a rate-sensitive stock at a rate-sensitive moment. The S&P 500 fell 2.6% Friday and posted its first losing week in 10, while bond yields rose after the Labor Department reported that employers added 172,000 jobs in May, roughly double forecasts.