Jim Cramer on Home Depot: "It's Still Going to Go Higher"

The Home Depot, Inc. (NYSE:HD) is one of the one of the stocks Jim Cramer commented on, along with the recent Fed meeting. Expressing hesitancy about interest rate-sensitive cyclicals, Cramer said:

“I don’t see any real reason to get excited about the interest rate-sensitive cyclicals, including the housing stocks. Those are the stocks you’d buy if we heard that the Fed had a very serious debate about whether to have a double rate cut. We didn’t get that. Now, for instance, we own Home Depot for the Charitable Trust. It’s been a big winner and I’m not surprised that it got dinged today, down 1%.

You need to hear something about bigger cuts to get that stock higher, and it didn’t happen. It’s going to be slower. It’s still going to go higher, though. I don’t feel great about the cyclicals in general, even though Caterpillar hit an all-time high today, unless they have something to do with the data center or with aerospace.”

The Home Depot, Inc. (NYSE:HD) is a home improvement retailer that supplies building materials, home décor, lawn and garden products, and maintenance items. The company also provides installation services, tool rental options, and digital platforms that support homeowners, professional tradespeople, and contractors.

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Disclosure: None. This article is originally published at Insider Monkey.