Stocks

The Dow Is Down and It's All Home Depot's Fault.

Markets Now Markets HD Home Depot's Retail/Wholesale Household Goods/Hardware Stores Decorating/DIY/Hardware Stores Specialty Retailing Retail North America United States HD I/HIM I/RTS I/XFFX M/RTWS R/NME R/US Barrons.com Barrons Blogs Fortune 500 COMP DJIA Dow Jones Industrial Average Nasdaq Composite S&P 500 SPX CODES_REVIEWED Companies Markets Now Markets author Ben Levisohn author|Ben Levisohn author Ben Levisohn id Ben Levisohn name Ben Levisohn topicid 8022 rank 1 topicid barrons_display_brand BARMKTNOW barrons_display_brand|BARMKTNOW codetype BARRONS_DISPLAY_BRAND name Markets Now source MANUAL value BARMKTNOW code BARMKTNOW canbedisplaybrand true status modified barrons_display_subject BARMKTS barrons_display_subject|BARMKTS canbedisplaysubject true codetype BARRONS_DISPLAY_SUBJECT name Markets source MANUAL value BARMKTS code BARMKTS status modified co HOMD co|HOMD symbol HD country US codetype co displayname Home Depot extractedtext Home Depot's source MANUAL code hd name Home Depot's significance prominent onlinesignificance prominent exchange U.S.: NYSE exchangeisocode XNYS chartingsymbol STOCK/US/XNYS/HD fcode HOMD status modified company HD company|HD name Home Depot’s significance PROMINENT djn I/HIM djn|I/HIM name I/HIM why association source FACTIVA fcode I/HIM codetype djn code i_him djn HD djn|HD codetype djn why about source FACTIVA occurs true code hd name HD significance prominent onlinesignificance prominent fcode HD djn M/RTWS djn|M/RTWS codetype djn name M/RTWS why lineage source FACTIVA code m_rtws fcode M/RTWS djn I/RTS djn|I/RTS codetype djn name I/RTS why lineage source FACTIVA code i_rts fcode I/RTS djn R/US djn|R/US codetype djn why about source FACTIVA code r_us name R/US significance prominent onlinesignificance prominent fcode R/US djn R/NME djn|R/NME codetype djn name R/NME why lineage source FACTIVA code r_nme fcode R/NME djn I/XFFX djn|I/XFFX codetype djn why about source FACTIVA code i_xffx name I/XFFX significance prominent onlinesignificance prominent fcode I/XFFX first_publish_headline Whoops. The Dow Is Dow and It’s All Home Depot’s Fault. first_publish_headline|Whoops. The Dow Is Dow and It’s All Home Depot’s Fault. flow Barrons.com flow|Barrons.com codetype FLOW name Barrons.com source MANUAL value Barrons.com code online status modified name Online title Product code Barrons.com flow Barrons Blogs flow|Barrons Blogs codetype FLOW source MANUAL title Product code Barrons_Blogs name Barrons Blogs value Barrons Blogs status modified headline Whoops. The Dow Is Down and It’s All Home Depot’s Fault. headline|Whoops. The Dow Is Down and It’s All Home Depot’s Fault. id facebook id|facebook news_tab_url https://www.barrons.com/articles/dow-jones-industrial-average-drops-as-home-depot-earnings-do-damage-51574177862 idx xf500 idx|xf500 codetype idx why about source FACTIVA code xf500 name Fortune 500 significance prominent onlinesignificance prominent fcode xf500 in i64 in|i64 codetype in name Retail/Wholesale why lineage source FACTIVA code i64 fcode i64 in i648 in|i648 codetype in name Household Goods/Hardware Stores why lineage source FACTIVA code i648 fcode i648 in i6483 in|i6483 codetype in name Decorating/DIY/Hardware Stores why association source FACTIVA code i6483 fcode i6483 in i654 in|i654 codetype in name Specialty Retailing why lineage source FACTIVA code i654 fcode i654 in iretail in|iretail codetype in name Retail why lineage source FACTIVA code iretail fcode iretail index S&P 500 index|S&P 500 symbol SPX country US codetype index displayname S&P 500 Index extractedtext S&P 500 source MANUAL code spx name S&P 500 significance prominent onlinesignificance prominent exchange S&P US exchangeisocode S&P US chartingsymbol INDEX/US/S&P US/SPX status modified index Nasdaq Composite index|Nasdaq Composite symbol COMP country US codetype index displayname NASDAQ Composite Index extractedtext Nasdaq Composite source MANUAL code comp name Nasdaq Composite significance prominent onlinesignificance prominent exchange U.S.: Nasdaq exchangeisocode XNAS chartingsymbol INDEX/US/XNAS/COMP status modified index Dow Jones Industrial Average index|Dow Jones Industrial Average symbol DJIA country US codetype index displayname Dow Jones Industrial Average extractedtext Dow Jones Industrial Average source MANUAL code djia name Dow Jones Industrial Average significance prominent onlinesignificance prominent exchange Dow Jones Global exchangeisocode DOW JONES GLOBAL chartingsymbol INDEX/US/DOW JONES GLOBAL/DJIA status modified media media-2 media|media-2 responsive layout wrap softcrop Horizontal imphotoid im-99804 location https://images.barrons.com/im-99804/?size=1.5 media media-1 media|media-1 softcrop Horizontal imphotoid im-99804 location https://images.barrons.com/im-99804/?size=1.5 nwchain SB523555383061663141638045860278412153912961 nwchain|SB523555383061663141638045860278412153912961 re usa re|usa codetype re why about source FACTIVA subcat cntry code usa name United States significance prominent onlinesignificance prominent fcode usa re namz re|namz codetype re why lineage source FACTIVA subcat snr code namz name North America fcode namz relay SYND relay|SYND codetype RELAY name Syndication source EXPANDER value SYND code synd status modified statistic CODES_REVIEWED statistic|CODES_REVIEWED name CODES_REVIEWED value CODES_REVIEWED codetype STATISTIC code CODES_REVIEWED subject BARMKTS subject|BARMKTS codetype SUBJECT selectable true title Markets code BARMKTS name Markets canbedisplaysubject true ruleid BARMKTS value BARMKTS status modified subject BARCOMP subject|BARCOMP codetype SUBJECT title Companies code BARCOMP name Companies canbedisplaysubject true ruleid BARCOMP value BARCOMP status modified subject BARMKTNOW subject|BARMKTNOW codetype SUBJECT title Markets Now code BARMKTNOW name Markets Now ruleid BARMKTNOW value BARMKTNOW canbedisplaybrand true status modified wordcount 340 wordcount|340 Uncredited Home Depot stock is responsible for the dow Jones Industrial Average’s drop. Whoops. The Dow Is Down and It’s All Home Depot’s Fault. Whoops. The Dow Is Down and It’s All Home Depot’s Fault. Dow Jones Industrial Average Drops as Home Depot Earnings Do Damage

The Dow was up earlier this morning, despite the fact that Home Depot stock was heading lower after reporting earnings. No longer, as Home Depot’s drop has overwhelmed the other stocks in the benchmark. The Dow Is Down and It’s All Home Depot’s Fault.

The Dow was up earlier this morning, despite the fact that Home Depot stock was heading lower after reporting earnings. No longer, as Home Depot’s drop has overwhelmed the other stocks in the benchmark. https://www.barrons.com/articles/sp-500-dow-jones-industrial-average-futures-home-depot-stock-51574167910 https://www.barrons.com/articles/home-depot-stock-earnings-report-51574168486 https://www.barrons.com/articles/SB50001424053111903591504577362093298588030 https://www.barrons.com/topics/markets?mod=BOL_HAMNAV&mod=article_inline&mod=article_inline&mod=article_inline&mod=article_inline&mod=article_inline&mod=article_inline&mod=article_inline&mod=article_inline&mod=article_inline mailto:Ben.Levisohn@barrons.com Whoops. The Dow Is Down and It’s All Home Depot’s Fault. By Ben Levisohn Uncredited Home Depot stock is responsible for the Dow Jones Industrial Average’s drop.

10:29 a.m. It looks like Home Depot’s big drop did knock the Dow Jones Industrial Average into the red after all.

The Dow was up earlier this morning, despite the fact that Home Depot stock was heading lower after reporting earnings. That’s no longer the case. The Dow has fallen 52.26 points, or 0.2%, to 27,983.96, and Home Depot (ticker: HD) is the reason why. Its stock has dropped 4.9% to $227.11, which accounts for 75.71 Dow points. Remove Home Depot, and the Dow would actually be higher.

Of course, we don’t get to do that. But the Dow has always been quirky thanks to its price-weighting methodology—the higher the stock price, the bigger weight it gets, market-capitalization be darned—so it’s worth taking a peek at the other indexes for a better sense of what the market is doing.

The answer: Not much. The S&P 500 has dipped 1.06 point to 3120.97, while the Nasdaq Composite is up 0.1% to 8559.59.

Markets Now is a quick take on what’s happening with the Dow Jones Industrial Average and other major market indexes. Don’t forget to check out the rest of Barron’s markets coverage.

Write to Ben Levisohn at Ben.Levisohn@barrons.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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