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Home Depot earnings underscore shifting consumer demand as retailers report
Yahoo Finance notes that S&P 500 second-quarter earnings are on track for 50.0% year-over-year growth, the fastest since 2021, as the season draws down.
Retail earnings continued to offer a snapshot of consumer spending as the second-quarter reporting period winds down, with Home Depot showing that shoppers are still buying but are choosing smaller projects.
Yahoo Finance said Home Depot’s results came amid a backdrop of geopolitical concerns and ongoing inflation pressures on US households, with other large retailers including Walmart, Target, and Lowe’s set to report during the same week.
The outlet also pointed to broader earnings momentum, citing FactSet data that S&P 500 companies are on pace for second-quarter earnings to rise 50.0% year over year, the highest growth rate since 2021.
Bank of America strategists, as referenced by Yahoo Finance, said artificial intelligence is a key driver behind the wider earnings strength.
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