Investor Alert

New York Markets Close in:

Market Pulse Archives

June 21, 2022, 10:34 a.m. EDT

Home builder stocks enjoy a broad lift after housing data

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Dow Jones Industrial Average (DJIA)
  • X
    Lennar Corp. Cl A (LEN)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of home builders got a broad lift in morning trading Tuesday, as data on existing home sales assuaged some investor fears, for now, by meeting expectations. The iShares U.S. Home Construction ETF rallied 2.7% in morning trading, after being up about 1.4% just prior to the release of the data, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.15% rose 565 points, or 1.9%. The National Association of Realtors released data at 10 a.m. Eastern, saying existing home sales fell 3.4% to a seasonally adjusted annual rate of 5.41 million in May, a fourth straight monthly decline but in line with expectations. Among the home builder ETF components, Lennar Corp.'s stock /zigman2/quotes/202536373/composite LEN -1.04% charged up 5.0% after the company reported fiscal second-quarter profit, revenue and new orders that topped expectations, and provided an in-line outlook. Elsewhere, shares of D.R. Horton Inc. /zigman2/quotes/202032328/composite DHI -1.61% jumped 3.1%, Toll Brothers Inc. /zigman2/quotes/201912487/composite TOL -1.99% climbed 4.1%, PulteGroup Inc. /zigman2/quotes/201694804/composite PHM -1.18% advanced 3.8% and KB Home /zigman2/quotes/206220859/composite KBH -2.00% tacked on 3.1%.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
33,962.84
+50.40 +0.15%
Volume: 320.97M
Aug. 16, 2022 10:09a
loading...
/zigman2/quotes/202536373/composite
US : U.S.: NYSE
$ 87.16
-0.92 -1.04%
Volume: 311,259
Aug. 16, 2022 10:09a
P/E Ratio
6.00
Dividend Yield
1.71%
Market Cap
$25.00 billion
Rev. per Employee
$2.83M
loading...
/zigman2/quotes/202032328/composite
US : U.S.: NYSE
$ 77.55
-1.27 -1.61%
Volume: 128,152
Aug. 16, 2022 10:09a
P/E Ratio
5.03
Dividend Yield
1.15%
Market Cap
$27.39 billion
Rev. per Employee
$2.71M
loading...
/zigman2/quotes/201912487/composite
US : U.S.: NYSE
$ 48.72
-0.99 -1.99%
Volume: 128,408
Aug. 16, 2022 10:09a
P/E Ratio
6.14
Dividend Yield
1.63%
Market Cap
$5.72 billion
Rev. per Employee
$1.84M
loading...
/zigman2/quotes/201694804/composite
US : U.S.: NYSE
$ 43.89
-0.52 -1.18%
Volume: 152,966
Aug. 16, 2022 10:09a
P/E Ratio
4.91
Dividend Yield
1.36%
Market Cap
$10.28 billion
Rev. per Employee
$2.42M
loading...
/zigman2/quotes/206220859/composite
US : U.S.: NYSE
$ 32.33
-0.66 -2.00%
Volume: 142,653
Aug. 16, 2022 10:09a
P/E Ratio
4.47
Dividend Yield
1.84%
Market Cap
$2.88 billion
Rev. per Employee
$2.79M
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.