Dow Hits Record High as Interest Rate Hikes Loom for Home Depot and Lowe's

The Dow Jones Industrial Average reached a record high on Tuesday after sinking oil prices boosted non-tech blue chips. The DJI.US rose by 328.64 points, or 0.6%, to 51,999.67.

However, this boost was not seen across all sectors, with Home Depot and Lowe's stocks taking a hit as interest rate hikes loom on the horizon. The +25 basis point hike in interest rates has tanked these stocks due to their sensitivity to economic uncertainty.

In contrast, Home Depot reported resilient Q1 results, with positive comparable sales and reaffirmed full-year guidance. This suggests stable consumer spending trends despite broader economic uncertainty.