Sentiment is poor around anything related to US housing because of persistently high rates. There has been some relief lately with US 10-year yields down 50 bps from the January peak to 4.29% today but with mortgage rates still at 6.8%, it's a struggling sector.
On the flip side, comp stores in the quarter rose 0.2% q/q, breaking an eight-quarter losing streak. Home Depot earlier in the week also reported a small lift.
There are other part of the economy -- particularly AI -- that are driving growth but it's a two-track economy.
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