US Economy May Be Nearing Turning Point for Home Depot and McDonald's

The economy is cyclical and things seem tough now, but market dynamics dictate change. Home Depot's homebuilding business may be nearing a bottom as the US needs an additional 4-5 million homes to meet demand. Average home prices are slowly drifting lower for three years now.

McDonald's missed expectations with 1.3% companywide same-store sales growth, but CEO Christopher Kempczinski acknowledged that execution was inconsistent across the system. The share price is down over 20% from its February high.

Johnson & Johnson aims to become an oncology titan by growing its cancer drug business to $50 billion by 2030. It has already achieved year-over-year reported revenue growth of 19% in Q2 with Darzalex.