A Bull Market Is Here. 3 Reasons to Buy Home Depot Stock Like There's No Tomorrow
Home Depot (NYSE: HD) isn't firing on all cylinders right now. In fact, the business is on track to post a second consecutive year of declining customer traffic for fiscal 2023. Sales are set to fall for the year, and profits might decline by as much as 10% compared to 2022.
Investing is all about the future, though, which remains bright for this leading retailer. Let's look at some reasons to be extremely bullish about Home Depot's stock going forward.
It's no surprise that Home Depot's stock has been a big beneficiary of the wider market rally these past few months. The U.S. economy is expanding at a solid clip, defying expectations that rising interest rates would cause a recession heading into 2024. Slowing inflation is pointing to an impending end to those interest rate hikes, and perhaps even a few cuts ahead.
Source Fool.com
