Diamonds and Dogs
Home improvements boost Home Depot (HD). Home Depot is up 5% to new highs following strong earnings. Management says demand remains strong among customers and contractors who say their backlog of business is growing. Home Depot's market cap surpassed Walmart today.
Profit-taking in Walmart (WMT). Walmart is down 2% even though the company beat earnings estimates as sales rose 4% to $140.5 billion. The company continues to struggle with supply chain issues, however the company is making progress on new hires. Walmart is seeing a significant change in labor supply after the government stimulus went away. After 1.4 million people quit their jobs in August and September, Walmart has added over 200,000 new associates with competitive wages.
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