Home Depot says tariffs will lead to price increases
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Home Depot Sales Gain
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Wall Street braced for results from retail giants as rising concerns over inflation cloud the path to an interest rate cut.
The company's full-year forecast assumes no substantial change in the number of consumers revamping their homes.
Home Depot said tariffs will soon start hitting some price tags even as consumers continue to hold off on larger projects because of higher interest rates and economic uncertainty.
Home Depot's Q2 earnings fell slightly short of Wall Street's target, but the company announced some news that has potentially huge implications.
The blue-chip Dow was just shy of a record high on Tuesday as Home Depot shares gained after the retailer kept its annual forecasts intact, while the S&P 500 and the Nasdaq were subdued ahead of a Federal Reserve conference later in the week.
The home-improvement chain is now one of the companies most caught up in Trump's immigration crackdown. The retailer's history with day laborers is long. So far, it's choosing to keep its distance.