In Q1, Home Depot experienced solid demand for smaller projects and seasonal activities; however, high interest rates deterred many consumers

Home Depot's Q2 earnings fell slightly short of Wall Street's target, but the company announced some news that has potentially huge implications.

Investors are instead paying close attention to the stock’s next catalyst: the inflection of the housing market. “Looking ahead, focus should shift toward rate cuts and any indication of a looming turn for the home improvement category,” Bellinger wrote.