New York, February 11, 2026, 10:06 EST — Session in progress
- After surging on Tuesday, Home Depot shares slipped in early trading.
- All eyes are now on the company’s quarterly results and conference call scheduled for Feb. 24.
- Stronger labor data has reopened the debate on the direction of U.S. rates.
Shares of Home Depot (HD) dropped 1% to $385.97 in early Wednesday trading. Meanwhile, Lowe’s shares edged down roughly 0.7%.
Home Depot announced Tuesday that its fourth-quarter and full-year earnings call is set for Feb. 24 at 9 a.m. ET. Investors will be watching closely, as this is the next key checkpoint for gauging demand in large home improvement projects. 1
A stronger U.S. jobs report shook up rate expectations, shaking housing-related stocks. Nonfarm payrolls increased by 130,000 in January, while the unemployment rate dropped to 4.3%. Traders responded by dialing back chances of an April rate cut, as seen in rate futures — contracts that reflect Fed policy outlooks. 2
A Reuters poll released Wednesday found that most economists predict the Fed will keep rates steady through May, then start cutting in June. Stephen Juneau, a U.S. economist at Bank of America, warned that additional easing “could be a recipe for overdoing it” if fiscal policy becomes more expansionary. 3
Billionaire dealmaker Brad Jacobs’ QXO is set to acquire private distributor Kodiak Building Partners for roughly $2.25 billion, according to sources who spoke to Reuters. The move shines a spotlight on distribution, an area where Home Depot and Lowe’s have been actively expanding. Home Depot snapped up SRS Distribution in 2024 and then moved to buy GMS through SRS. Meanwhile, Lowe’s has picked up Foundation Building Materials and Artisan Design Group, Reuters reported. 4
For Home Depot, the focus now shifts from tape to the pro customer — contractors and remodelers purchasing in bulk to keep projects on track. Even slight changes in pricing, labor costs, or major categories can quickly impact the stock.
Home Depot climbed over 2% on Tuesday, pushing the Dow to its third consecutive record close, buoyed by gains in Disney and other major blue chips. December’s U.S. retail sales came in flat, catching many off guard. Mark Luschini, chief investment strategist at Janney Montgomery Scott, described it as “bad news is good news” for sectors sensitive to interest rates. 5
The rate story goes both ways. If investors believe the Fed has limited room to cut rates—or if mortgage rates remain stubbornly high—homeowners might hold off on moves and renovations, dragging down spring demand.
Competition among contractors is intensifying. A fresh round of distributor deals might push prices down further, though it could also boost volumes throughout the supply chain.
Home Depot is set to release its fourth-quarter results on Feb. 24, followed by a 9 a.m. ET conference call that day. Investors will be watching closely for changes in demand trends and whether professional contractors are outspending DIY customers. 6
