All eyes are on Nvidia earnings after the bell today but a better reading on the underlying economy probably came from home improvement company Lowe's today. Shares are up 2.5% on modest beats on revenues and earnings but that comes after an 18% decline since the October highs.
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.
So it was the 2025 Lowe's guidance that caught my eye with the company forecasting comp same store sales expected to be flat to up +1% this year. That's after a 3.1% decline in revenues in FY2024.
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.
This article was written by Adam Button at www.forexlive.com.Hence then, the article about lowe s highlights sluggish us home related spending was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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