Home Depot's Gettin' Jiggy Wit' It: Contractors See Green, Despite Tariff Drama!

Yo Check It! Contractors Feelin' Good?

Alright check it y'all! This survey by Morgan Stanley they talked to like 94 contractors painters and remodelers plus 37 of them specialist painters right? And guess what? Most of 'em are seeing brighter days ahead. That's right business is lookin' up! It's like when Hilary finally figures out how to work the VCR – a real win win situation!

Backlogs Bigger Than Uncle Phil's Appetite!

These contractors they ain't just dreamin'. They got backlogs of projects longer than Geoffrey's list of complaints. And they're expecting even more work later in '25. Nobody's scared of clients skimping on the big jobs either which is dope. Seems like everyone wants to upgrade their crib even if it ain't quite the Banks mansion know what I mean?

Material Prices? Talk to the Hand!

Now hold up. It ain't all sunshine and Bel Air breezes. These contractors are sweatin' about the cost of materials. Inflation and those darn tariffs are makin' things pricey. Morgan Stanley said the tariff thing might be even bigger than they thought 'cause the survey happened right before 'Liberation Day' (whatever that is!). Reminds me of when I accidentally wore Carlton's sweater to a party – a real fashion disaster!

Home Depot's Got This (Maybe?)

Home Depot's playin' it cool though. They dropped their target price a bit but they're saying they're keepin' an eye on those tariffs. They wanna be the 'customer's advocate for value.' Word! Their CEO Ted Decker told Jim Cramer that most U.S. homes are ancient and need fixin' up. And Home Depot's the place to get it done. Like Jazz always says before getting tossed out: “I’ll be back!”

Cramer's Got the 411

Jim Cramer's all in on Home Depot baby! He's sayin' to stay 'long' on the stock which sounds kinda dirty but whatever. He thinks lower mortgage rates will boost the housing market which means more business for Home Depot. The CNBC Investing Club they've been snagging up Home Depot stock like it's the last slice of pizza at a pool party.

Pro Power Play!

Home Depot ain't just about the DIY crowd. They went big and bought SRS Distribution for like 18 billion clams to boost their pro business. Pro sales were already stronger than the DIY crowd back in February. So basically Home Depot's lookin' to be the king of the hill when it comes to home improvement. Now if you'll excuse me I got to go figure out how to use that new power drill Hilary bought.