The U.S. stock market traded in the red with the Dow Jones falling 200 points as the 10-year note passed the level of 3%, to 3.05%.
Shares of The Home Depot Inc. (HD) fell on Tuesday trading after the company posted first-quarter earnings of $2.08 on revenue of $24.95 billion, which was 4.4% higher than the comparable period. The company beats earnings estimates by 2 cents, but fell short of revenue expectations by $270 million.
Comparable sales for the first quarter of fiscal 2018 were positive at 4.2%, and comp sales in the U.S. were positive at 3.9%.
Craig Menear, the company's chairman and CEO, said: "Outside of our seasonal business, we had solid results in all markets and categories and are seeing strong momentum in all lines of business during these first few weeks of May. These trends, as well as a favorable housing and macroeconomic backdrop, give us confidence to reaffirm our sales and earnings guidance for fiscal 2018."
Looking ahead, the company expects its fiscal 2018 sales to grow by 6.7% and comp sales to be up approximately 5.0%. The company also reaffirmed its diluted earnings-per-share growth guidance for the year and expects diluted earnings-per-share growth of approximately 28.0% from fiscal 2017 to $9.31.
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Global markets
The main European stock markets traded mixed. The U.K.'s FTSE gained 0.21%, France's CAC advanced 0.10% but Spain's Ibex retreated 0.81% and Germany's Dax fell 0.28%.
In Asia, markets closed in the red. China´s Shanghai closed up 0.57%, but Japan's Nikkei fell 0.21%, Hong Kong's Hang Seng retreated 1.23% and India’s BSE Sensex slid 0.04%.
Disclosure: The author holds no position in any stocks mentioned.
