According to CNBC, Home Depot (HD) experienced a booming second quarter, with its net earnings surging to $1.8 billion, or $1.24 a share, in the second quarter, from $1.53 billion, or $1.01 a share, a year earlier.

"I know there's been a debate lately about the strength of the housing market," Brian Nagel, senior equity research analyst at Oppenheimer & Co., told CNBC's Squawk Box. "I think the housing market is recovering quite well here. And I think Home Depot is capitalizing quite well."