Wall Street opened this Tuesday on mixed ground and the Dow Jones Industrials, its main indicator, lost 0.19% at the opening, when investors analyze the poor business results and forecasts of Home Depot, the largest chain of DIY stores and home renovations in the world.
Fifteen minutes after the start of operations on the New York Stock Exchange, the Dow Jones fell to 33,286 units and the selective S&P 500 subtracted 0.03% to 4,134 points.
For its part, the composite index of the Nasdaq market, in which the main technology companies are listed, advanced 0.10% to 12,379 integers.
Shares of Home Depot – listed in the Dow Jones Industrials group – were down 1.23% after the home improvement retailer reported disappointing quarterly revenue and cut its guidance for the full year.
Sales were 2.7% below Wall Street expectations, marking the company’s biggest revenue loss since November 2002.
In addition, Home Depot anticipates a reduction in full-year revenue of 2% to 5%.
On the other hand, investors are waiting for Democrats and Republicans to reach an agreement on the US debt ceiling.
By sectors, the only gains were for technology and communications, which rose 0.67% and 0.01%, respectively. While the biggest losses were for energy and raw materials, with a drop of 0.85% and 0.71%, respectively.
Among the 30 Dow Jones stocks, the companies with the biggest losses were Nike (-2.44%) and Home Depot (-1.23%), while the biggest gains were for Microsoft (1.32%) and Apple ( 0.48%).
I am John Casanova. I am an author at 24 news recorder and mostly cover economy news. I have a great interest in the stock market and have been writing about it for many years. I am also interested in real estate and have written several articles on the subject. I am a very experienced investor and have a lot of knowledge to share with others.