Tuesday preview: UK jobs data, Home Depot earnings eyed

17th Aug 2026 13:04

(Sharecast News) - UK average earnings and unemployment data for June will be among the highlights on Tuesday, as well as quarterly earnings from US home improvement retailer Home Depot.

AJ Bell analysts Russ Mould and Danni Hewson noted that Home Depot reaffirmed full-year guidance in May after posting better-than-expected first-quarter results, helped by resilient demand for smaller, budget friendly repairs.

"While housing affordability and elevated mortgage rates remain headwinds, analysts believe Home Depot's professional customer heavy business model will allow it to outperform peers," they said.

"Recent data on shingles roofing shipments showed signs of stabilisation, suggesting homeowners are finally getting around to fixing that leaky roof and making other urgent repairs.

"With the shares underperforming the S&P 500 by around a third over the past year, much of the bad news could well be priced in already, so investors will be watching closely for signs of continued resilience."

As far as the UK jobs data is concerned, Patrick Munnelly at Tickmill Group said pay growth is expected to continue slowing, although the pace of deceleration may be limited by base effects.

"Employment indicators are likely to remain subdued, but recent surveys have shown slight improvement, including the KPMG/REC report showing permanent staff appointments stabilising after a 45-month downturn," he said.

"The wage data will be crucial for the Bank of England. The BoE has been trying to look through external energy shocks while watching for second-round effects in wages and prices. If pay growth slows convincingly, it would support Governor Bailey's message that the Bank is not edging toward a hike. But if wage growth proves sticky, markets may maintain or increase expectations of a later-year move."