Home Depot’s stock cuts about 30 points from Dow industrials


The Dow Jones Industrial Average gave up slight gains to trade negative on Tuesday, as shares of Home Depot pressured the equity gauge. Home Depot’s stock

HD, -2.98%

was down $4.35, or 2.8%, and slicing about 30 points from the price-weighted Dow

DJIA, -0.02%

A price move of about $1 in any of its 30 components equates to a roughly 6.85-point tilt in the Dow. A slide in shares of United Technologies Corp.

UTX, -1.01%

falling in line with crude-oil prices

CLU7, -0.13%

and Nike Inc.

NKE, -2.00%

weighed on the average, combining to exert a roughly 45-point weight on the Dow. On the upside, shares of Apple Inc.

AAPL, +1.36%

were contributing about 14 points to the benchmark, up 1.4% and the best performer in the average. Home Depot’s share decline came even as the home-improvement retailer Home Depot Inc. raised its outlook for the second time this year as it reported better-than-expected second-quarter results. Overall, the Dow was down 7 points, or less than 0.1%, at 21,986, while the S&P 500 index

SPX, -0.06%

was off 0.1% at 2,463, and the Nasdaq Composite Index

COMP, -0.08%

was trading 0.1% lower at 6,334. All three major benchmarks had opened slightly higher and were on track to book their third straight gain as tensions between the U.S. and North Korea ease and as a batch of economic reports, including retail sales, came in better than expected.