Home-builder ETFs rise after data, earnings

Exchange-traded funds that track the home-building sector rose on Tuesday, following a positive read on home prices, as well as strong results from a key component. The SPDR S&P Homebuilders ETF XHB, +0.15% rose 0.9% while the iShares U.S. Home Construction ETF ITB, +0.52% was up 1.3%. Supporting the group was the S&P/Case-Shiller national index of home prices, which hit a four-year high. Separately, PulteGroup Inc. PHM, +2.84% jumped 3.8% after the company reported first-quarter results that Susquehanna analyst Jack Micenko said beat expectations “across all metrics.”


Source: Market Watch

Related posts