Why Home Depot Stock Jumped 5% Today
Shares of Home Depot (NYSE: HD) surged today as the company edged out estimates in its third-quarter earnings report and reassured investors that the business was performing well under difficult macro conditions.
Additionally, the stock seemed to benefit from a cooler-than-expected inflation report. That makes it less likely that the Federal Reserve will raise interest rates again, which benefits Home Depot.
As a result, the stock finished today's session up 5.4%.
Source Fool.com
