Financialbuzz.com

'Market Recap' Week Ending August 23rd, 2019 - Seite 2

Despite the decline on Thursday, the Dow Jones recovered throughout the end of the day in light of Powell's announcement on Friday about a possible September rate cut. The Dow Jones closed 49.51 points or 0.19% higher on Friday. The S&P 500 closed 1.48 or 0.05% lower, while the Nasdaq Composite finished 28.82 points or 0.36% lower. "We already knew that last months Fed rate cut was likely to be a contentious decision, given the differing views that were already being voiced in the lead-up to the decision," wrote Michael Hewson, Chief Market Analyst at CMC Markets, in a daily research note. "Yesterday's release of the minutes only served to confirm that view, and while Fed [Chairman] Jay Powell pushed the line that the reduction was a "mid-cycle adjustment" policy makers were sharply split on the course of action to take."

For our latest "Buzz on the Street" Show featuring "Retail Earnings Report" please visit: https://www.youtube.com/watch?v=Q1ujs4_ocWw

The Home Depot, Inc. (NYSE: HD) reported its second quarter financial results before the opening bell on Tuesday. The home-goods retailer provided better-than-expected earnings, but missed analysts' revenue estimates. Despite the revenue miss, Home Depot shares gained 3.7% shortly after the market opened. For the second quarter, Home Depot reported earnings of USD 3.17 per share on revenues of USD 30.84 Billion. Analysts expected earnings of USD 3.08 per share on revenues of USD 30.99 Billion. Same-store sales for the quarter were up 3%, falling short of analysts' estimates of 3.5%. Home Depot reported that revenues increased by 1.2% year-over-year, largely due to the momentum it is experiencing in its strategic investments and believes that the current health of the U.S. consumer and stable housing environment is continually growing. Based on the impact from the impact of lumber sales, Home Depot is now forecasting fiscal 2019 sales growth of approximately 2.3% and comp sales up 4.0%. Additionally, the Company reaffirmed diluted earnings-per-share growth of USD 10.03, increasing by 3.1% compared to fiscal 2018. Previously, Home Depot expected sales growth of 3.3% for fiscal 2019.