THF Composite Rises 28 Points
With a government report last week showing unemployment levels holding steady at 9.7 percent, interpreted by some analysts as a signal that the economy may be set for a comeback, The Hard Fax Composite of home improvement industry stocks gained 28 points to end at 1145, or up seven percent year-to-date. The broader Dow also gained for the week, climbing 149 points from the prior week to end at 10553, plus one percent year-to-date.
Twenty-six of the 28 stocks making up the market basket of stocks in the composite gained for the week, with only Lowe’s and Central Garden showing a loss. Notable gainers for the week included Sears (+5.97), Grainger (+2.44), Toro (+2.12) and Simpson (+1.99).
The Department of Commerce will release February retail sales estimates on Friday of this week. Watch for that report to have a direct impact on home improvement industry stocks.
-TVG
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