The two reports on inflation and output supported the view that the Federal Reserve will raise rates sooner than later and may make the first move at a policy meeting next month.
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Data showed the United States consumer price index rose 0.2 percent month on month in October, with key elements like health care and housing costs pushing higher in a potential sign of inflation picking up.
Comparable store sales in the quarter rose 5%.
The report said industrial production dipped by 0.2% in October, matching the decrease seen in September. On average, equities analysts predict that Home Depot will post $5.31 EPS for the current fiscal year. Sydney’s S&P ASX/200 shed 0.2 percent to 5,107.30 and Seoul’s Kospi advanced 0.2 percent to 1,966.63.
On Wall Street, Tollbooth Strategy Index increased 55.85 or 0.5% to 10,834.72. Futures for the Nasdaq-100 index were up 15.25 points, or 0.4%, at 4,575. The stock has a market cap of $162.22 billion and a price-to-earnings ratio of 24.64.
Home Depot Inc (HD.N), the world’s No. 1 home improvement retailer by revenue, reported better-than-expected quarterly same-store sales, helped by strong demand from both retail customers and professional contractors and builders.
The home-improvement retailer reported net income of $1.73 billion, or $1.35 per share.
TJX, parent of the discount department stores TJ Maxx and Marshall’s, gained 3.9 percent after reporting earnings of 86 cents per share, a penny above expectations behind a 5.2 percent gain in revenues to $7.8 billion. During the same quarter in the prior year, the company posted $1.11 EPS. However, Home Depot has seen 4.4% growth in customer transactions in the reported quarter.
HD stock has also grown thanks to the company’s ability to read its costumers’ needs, particularly when it comes to starting and completing renovation projects, as the DIY scene continues to gain steam.
Shares of energy companies also pulled back as the price of oil erased Monday’s gains.
GNC Holdings dropped 6.38 percent, Vitamin Shoppe fell 4.92 percent and Herbalife lost 1.48 percent. France’s CAC 40 jumped 2.8 percent.
Greece achieved preliminary deal with its global lenders on home foreclosures reform, thus easing the stalemate in its bailout program. Average purchase price for the said period gained 0.8% to $58.03.
The company also doesnt expect any lasting impact on its business following the recent terrorist attacks.
Liberty Global Plc, the worldwide video, broadband, telephony and mobile services provider, offered to acquire smaller rival Cable & Wireless Communications Plc for £3.6 billion in stock and a special dividend.
The acquisition is part of the companys efforts to expand its reach in the Latin America and the Caribbean.
Cable and Wireless Communications Plc stock soared 6.7% to 78.71 pence on the news.
The Dow Jones industrial average rose 237.77 points, or 1.4 percent, to 17,483.01.
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Cash and cash equivalents stood at $3,040 million as on November 01, 2015, up 39.39 percent or $859 million from $2,181 million on November 02, 2014.
