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Dow suffers worst loss in 3 weeks — YF Premium is bullish on Home Depot (HD)

Yahoo Finance's Jared Blikre joins Seana Smith to break down the day's price action in stocks as well as a long in Home Depot (HD), a Yahoo Finance Premium Investment Idea. Not a subscriber? Start your free trial to join our next webinar on Tuesday, December 8, 2020 at 2:00pm ET live!

Video Transcript

SEANA SMITH: [? Jared ?] Blikre, what are you watching as we get closer to the closing bell?

JARED BLIKRE: Well, [? a ?] pretty quiet day overall, as we've been talking about. Now we do see some of the big tech stocks in the red but not by much. You look at Apple, Amazon, and Facebook, Facebook is down the most, off about 2/10 of a percent.

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Looking at some of the biggest winners and losers here, Tesla, another outstanding day, up 12%. Zoom up 4.7%, Applied Materials, up 2 1/2%. Looking forward to those Nvidia earnings after the bell. To the downside, Moderna's off the most, 4%, and Trip.com down 3.8%.

And now I want to get to our Yahoo Finance Premium Investment Idea of the Day, and that is Home Depot. [? So let's ?] see what Argus Research is saying about HD. They're saying they have a bullish trend, and they are raising their price target to $325 from $320 on strong sales. So they're looking at their earnings report, which they released earlier in the week.

Specifically, they're talking about their comp sales. At US stores, they rose 24.6%, and US comps were up 22.6% in August, 28.5% in September, 23% in October, all very good numbers. Also they're saying that the company said in the third quarter call that customers are saying that their home has never been more important. The company's surveys show that customers have a continued willingness to invest in their homes over the next six months, and HD's customer satisfaction scores are improving.

Just looking at the stock over the last six months, you can see kind of flatlined over the last, let's say three months here, but still up about 10.7%. And then looking at the year to date real quick, we can see it is up 24%. Seana.

SEANA SMITH: All right, Jared Blikre. Thank you.