Futures Slump as Fed Threatens to Yank Stimulus Rug
Home Depot Inc
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Stocks closed down 1 percent after the minutes from the last Fed policy setting meeting suggested the central bank could begin tapering bond purchases sooner than the market expects.
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Baby boomers who don’t want to retire to a distant locale (some place warmer or cheaper) may be causing a long-term drag on the U.S. housing sector – and the economy. According to a survey done by Home Depot – 89% of older Americans want to stay in their present houses for as long as possible. But companies like Home Depot are seeing a business opportunity in reaching out to boomers who want to stay put.
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Shares of Home Depot have been trading lower after the second largest U.S. retailer reiterated that no talks have taken place involving a leveraged buyout. Deal rumors boosted share price nearly 3% on Friday. On CNBC’s “Squawk on the Street,” David Faber revealed what’s going on with Home Depot.
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We told you earlier about the U.S. stock selloff--but they ended up, making comeback and bouncing off their lows of the session. There was that triple digit sell-off late in the afternoon only to see a rally in the last half hour of trading. CNBC's Mary Thompson has all the details in "Eye On The Floor."
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Shares of Home Depot rose following published reports that private investors could be circling the home improvement store chain for a huge leveraged buyout.
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Wall Street will be paying close attention to signs about the health of the economy after a sharp selloff in stocks.