New York, February 11, 2026, 10:06 EST — Regular session
- Home Depot shares eased in early trade after Tuesday’s jump.
- Focus is turning to the company’s Feb. 24 quarterly results and conference call.
- The path for U.S. rates is back in play after stronger labor data.
Home Depot (HD) shares fell 1% to $385.97 in early trade on Wednesday. Lowe’s shares slipped about 0.7%.
Home Depot said on Tuesday it will hold its fourth-quarter and full-year earnings conference call on Feb. 24 at 9 a.m. ET. That date is now the next hard marker for investors trying to read demand for big home projects. (Home Depot Investor Relations)
A stronger U.S. jobs report has also jolted rate expectations — a big swing factor for housing-related names. U.S. nonfarm payrolls rose 130,000 in January and the unemployment rate fell to 4.3%, and rate futures — contracts that track expectations for the Fed’s policy rate — saw traders scale back the odds of an April cut. (Reuters)
A Reuters poll of economists published on Wednesday showed most expect the Fed to hold rates steady through May and cut in June. Stephen Juneau, a U.S. economist at Bank of America, said further easing “could be a recipe for overdoing it” if fiscal policy turns more expansionary. (Reuters)
In building supplies, billionaire dealmaker Brad Jacobs’ QXO has agreed to buy private distributor Kodiak Building Partners for about $2.25 billion, sources told Reuters, putting fresh attention on distribution where Home Depot and Lowe’s have been spending. Home Depot bought SRS Distribution in 2024 and later agreed to acquire GMS via SRS, while Lowe’s has bought Foundation Building Materials and Artisan Design Group, Reuters reported. (Reuters)
For Home Depot, the next question is less about the tape and more about the pro customer — contractors and remodelers who buy in bulk and keep projects moving. Any shift in tone on pricing, labor costs or big-ticket categories can move the stock fast.
On Tuesday, Home Depot rose more than 2% as the Dow logged a third straight record close, helped by gains in Disney and other blue chips. U.S. retail sales were unexpectedly flat in December, and Mark Luschini, chief investment strategist at Janney Montgomery Scott, called it “bad news is good news” for rate-sensitive parts of the market. (Reuters)
Still, the rate story cuts both ways. If investors decide the Fed has less room to ease — or mortgage rates stay sticky — homeowners may keep deferring moves and projects, and spring demand could disappoint.
Competition for contractors is also heating up. Another wave of distributor deals could bring more price pressure, even if it also lifts volumes across the supply chain.
Home Depot is due to report fourth-quarter results on Feb. 24, with a 9 a.m. ET conference call set the same day. Traders will be listening for any shift in demand signals — and whether pros are spending more than DIY shoppers. (Home Depot Investor Relations)
