Home Depot rose 3.1% to lead the Dow higher after reporting results for the latest quarter that were a bit short of what analysts expected. The retailer said homeowners have been focused on smaller, less expensive home repairs while putting off bigger projects because of high interest rates.
Earlier in the week, trade deals with Japan and Indonesia contributed to pushing the market to record highs, and the possibility of a deal with the European Union adds to optimism. The Vanguard S&P 500 ETF reached an all-time high of 583.20, with a promising outlook for further gains. Key factors influencing the sustainability of this rally include both successful trade negotiations and the mixed results of earnings reports. Some companies, like Intel, reported losses despite exceeding revenue expectations, while others, like Deckers, had brighter earnings news, indicating a divided performance among major players.
