Home builder stocks enjoy broad gains as Treasury yields fall to 1-month low
Shares of home builders were broadly higher Friday, as the continued drop in longer-term Treasury yields helped soothe some fears about home affordability. The iShares U.S. Home Construction ETF (ITB) ran up 4.3% with all 47 equity components trading higher, while the S&P 500 edged up 0.7%. PulteGroup Inc. (PHM) was the biggest gainer of the group, rallying 7.0%, which would be the biggest one-day percentage gain since it surged 7.4% on Nov. 4, 2020. Among the sector ETF's other more-active components, shares of Lennar Corp. (LEN) climbed 5.2%, D.R. Horton Inc. (DHI) hiked up 5.4%, Builders FirstSource Inc. (BLDR) surged 6.4% and
(END) Dow Jones Newswires
July 01, 2022 14:49 ET (18:49 GMT)
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