We are buying 50 shares of Home Depot at roughly $364.95. Following the trade, Jim Cramer's Charitable Trust will own 100 shares of HD, increasing its weighting in the portfolio to about 1.1% from roughly 0.56%. Stocks are selling off Wednesday after the August consumer price index report came in mostly in line with expectations, though there was a slight uptick in so-called core inflation, which strips out volatile food and energy prices.
4% weekly increase in total mortgage demand and 1% increase in refinance applications. Those may be soft numbers, but remember rates are still at the top end of the range. Rates will come down and activity should pick up after the Fed gets a few rate cuts under its belt. Some believe the 5% range may not be too far away.