While a surge in corporate profits reflect an improving economy, several government reports show that the United States continues to be plagued by a lingering "jobless recovery."
Most analysts, including President Barack Obama, are predicting a strong May jobs report due out today (Friday) with more than 500,000 new jobs added to the U.S. economy.
"We expect to see strong jobs growth in Friday's report." Obama predicted in a speech in Pittsburg on Wednesday.
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Stubbornly High Unemployment Shows U.S. Economy Still Plagued by "Jobless Recovery"
Bulls Vs. Bears: Who's Winning Wall Street's Biggest Battle?
Two big economic reports dampened the mood on Wall Street in the past week: The Standard & Poor's/Case-Shiller Home Price Index and the Conference Board's Consumer Confidence Index.
But despite what the bears would have you believe, several strong companies have shrugged such data aside and broken through to new highs. In fact, long-term, we continue to see evidence that a robust business-led recovery is underway.
But despite what the bears would have you believe, several strong companies have shrugged such data aside and broken through to new highs. In fact, long-term, we continue to see evidence that a robust business-led recovery is underway.
To find out what companies are leading a new bull market click here...
Home Depot and Lowe's Laying the Foundation for Recovery with Little Help From the Housing Market
The housing market that was at the epicenter of the financial crisis has yet to approach a full-fledged recovery, but that hasn't stopped the nation's two biggest home-improvement retailers from rebuilding.
The Home Depot Inc. (NYSE: HD) and Lowe's Cos. Inc. (NYSE: LOW) both topped analysts estimates in the fourth-quarter, as more Americans undertook "do it yourself" projects and edged back into purchases of big-ticket items.
Home Depot's total revenue for the quarter ended Jan. 31 fell to $14.57 billion, but net income swung to a gain $342 million, or 20 cents a share, from a year-earlier loss of loss of $54 million, or 3 cents a share.
The Home Depot Inc. (NYSE: HD) and Lowe's Cos. Inc. (NYSE: LOW) both topped analysts estimates in the fourth-quarter, as more Americans undertook "do it yourself" projects and edged back into purchases of big-ticket items.
Home Depot's total revenue for the quarter ended Jan. 31 fell to $14.57 billion, but net income swung to a gain $342 million, or 20 cents a share, from a year-earlier loss of loss of $54 million, or 3 cents a share.
Home Depot's Numbers Show Housing's Still in the Basement
In spite of the Obama administration's latest effort to boost the U.S. housing market by extending the first-time homebuyer credit, numbers reported yesterday (Tuesday) by the nation's biggest home-improvement retailer, The Home Depot Inc. (NYSE: HD), indicate it could still be some time before the industry can claw its way out of the basement.
Home Depot reported sales of $16.36 billion for the fiscal quarter ended Nov. 1, down almost 8% from $17.78 billion in the comparable period last fiscal year. That resulted in an 8.9% drop in net income, which fell to $689 million, or 41 cents a share - down from the year-ago figures of $756 million, or 45 cents a share. Same-store sales were down 6.9% corporate-wide, and 7.1% in the United States.
Home Depot reported sales of $16.36 billion for the fiscal quarter ended Nov. 1, down almost 8% from $17.78 billion in the comparable period last fiscal year. That resulted in an 8.9% drop in net income, which fell to $689 million, or 41 cents a share - down from the year-ago figures of $756 million, or 45 cents a share. Same-store sales were down 6.9% corporate-wide, and 7.1% in the United States.
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