Reported 8 months ago
Shares of Pool Corp., Home Depot, and Lowe's dropped in Tuesday's trading due to Pool Corp. lowering its revenue and earnings guidance, reflecting weaker construction and remodel activity in the housing sector. The negative commentary from Pool Corp. impacted consumer confidence and interest rates, contributing to the decline in housing-related stocks. Federal Reserve Governor's hawkish commentary on interest rates and a slight dip in consumer confidence figures further added to the negative sentiment affecting home improvement retailers and their sensitivity to economic conditions.
Source: YAHOO