Market Voices: Robinhood’s EU expansion, Home Depot, Bessent on bonds

Seeking Alpha’s daily roundup of remarks and statements that could impact markets, sectors and individual stocks.

• Robinhood (NASDAQ:HOOD) is giving its EU customers greater access to the U.S. stock market by offering tokens for over 200 U.S. stocks and ETFs. Stock token holders will also be able to receive dividend payments directly via the Robinhood app.

“Our latest offerings lay the groundwork for crypto to become the backbone of the global financial system,” said Robinhood Chairman and CEO Vlad Tenev, in a statement.

• Treasury Secretary Scott Bessent indicated during an interview with Bloomberg that it wouldn’t make sense for the U.S. government to boost sales of longer-term securities given current yields.

“Why would we do that?” Bessent commented during an interview with Bloomberg TV early Monday. “The time to have done that would have been in 2021, 2022.”

• Home Depot (NYSE:HD) said it was buying GMS (NYSE:GMS) for a total enterprise value of around $5.5B, a move aimed at expanding its presence in the professional building contractor market. GMS will be acquired by Home Depot’s (NYSE:HD) specialty trade distribution unit, SRS Distribution.

“The combination of GMS and SRS will provide the residential and commercial professional contractor customer with more fulfillment and service options than ever before. Together, we’ll create a network of more than 1,200 locations and a fleet of more than 8,000 trucks capable of making tens of thousands of job site deliveries per day,” said Dan Tinker, CEO of SRS, in a statement.