Interest Rate Hike Bets Hit Stocks, Home Depot Bucks Trend

Stocks sensitive to interest rates have taken a hit as market expectations suggest a possible hike of 25 basis points. The Dow-30 set a record high on Tuesday, thanks in part to sinking oil prices boosting non-tech blue chips. However, the S&P 500 and Nasdaq Composite fell as big tech stocks consolidated after a three-session winning streak.

Despite broader economic uncertainty, Home Depot (HD.US) delivered resilient Q1 results with positive comparable sales and reaffirmed full-year guidance. This suggests stable consumer spending trends and continued confidence in housing-related demand.

A recent discussion on the Moomoo platform highlighted concerns about interest rates and their impact on consumer electronics prices, which have been rising due to memory shortages.