These 2 Dow Stocks Are Pointing to a Recession in 2023
The stock market has done a good job so far in 2023 of recovering from last year's big declines. However, investors have seemed to get a little more nervous recently, and it appeared that the holiday-shortened week was likely to get off to a negative start. Futures contracts on the Dow Jones Industrial Average (DJINDICES: ^DJI) were down about 300 points in premarket trading, with other benchmarks seeing similar percentage losses of around 1% to start the week.
Within the Dow, a pair of high-profile retail stocks gave investors their latest readings on the consumer economy, and neither company inspired too much confidence among their shareholders. Home Depot (NYSE: HD) and Walmart (NYSE: WMT) haven't seen customers abandon their stores, but even the potential for slowing demand had their shareholders on rockier footing early Tuesday.
Shares of Home Depot dropped 4% in premarket trading Tuesday morning. The home improvement retailer reported fiscal fourth-quarter results for the period ending Jan. 29 that showed the extent to which its growth has slowed, and investors reacted negatively to Home Depot's expectations that 2023 could prove to have even more difficult business conditions ahead.
Source Fool.com
