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Wall Street’s Home Improvement Rally: 3 Stocks to Track as Summer’s DIY Season Kicks Into Gear

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Travel and tourism, live events, and food and drink stocks are all prone to strong market rallies as temperatures warm and days become longer.

The old saying ‘sell in May and go away’ may be supported by historical market performance, but that doesn’t mean investors can’t make summer profits from carefully selected stocks. Wall Street Certain stocks are better disposed to outperformance over the summer months. Another major beneficiary from those summer months is DIY stocks.

Lowe’s Companies Inc Despite a mixed fourth-quarter earnings report at the end of last year, Lowe’s has surged more than 10% on Wall Street in the first quarter of 2024. There’s every indication that this year is shaping up to be a big one for the home improvement specialists. While Lowe’s beat expectations for EPS and revenue, the firm also reported a drop of over 6% in comparable sales and cut guidance for 2024 significantly.

 

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