Home Depot (HD), Lowe's (LOW) Turn Positive as Port Strike Averted

Home Depot (NYSE: HD) and Lowe's (NYSE: LOW) are ticking higher on the session following mid-morning news that the International Longshoreman’s Association and U.S. Maritime Alliance will continue talks for another 30 days.

According to the Federal Mediation and Conciliation Service, the parties will continue negotiating remaining outstanding Master Agreement issues, which include New York and New Jersey.

There is an "in principle" agreement over container royalty payments until an overall deal is reached. Terms of the payment deal weren't disclosed.

As reported earlier, the strike may have closed ports from Maine to Texas, hampering product imports for the two home goods retailers. Click here for more color.

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