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March 17, 2021, 2:33 p.m. EDT

Homebuilder ETFs jump after Fed statement

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By Andrea Riquier

Home-builder exchange-traded funds rallied after the Federal Reserve said it would hold off on raising interest rates at least through the end of 2023. The iShares U.S. Home Construction ETF /zigman2/quotes/203468436/composite ITB -0.96% gained 2.7% in the mid-afternoon, while the SPDR S&P Homebuilders ETF /zigman2/quotes/202739297/composite XHB -1.02% was up 1.2%. The Invesco Dynamic Building & Construction ETF /zigman2/quotes/202710470/composite PKB -1.18% ticked up 0.3%. Home-builder stocks fell in the morning after a disappointing housing-starts report, but rebounded after the central bank released its policy announcement mid-afternoon.

/zigman2/quotes/203468436/composite
US : U.S.: Cboe BZX
$ 71.25
-0.69 -0.96%
Volume: 1.28M
May 18, 2021 1:26p
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/zigman2/quotes/202739297/composite
US : U.S.: NYSE Arca
$ 74.38
-0.77 -1.02%
Volume: 886,153
May 18, 2021 1:26p
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/zigman2/quotes/202710470/composite
US : U.S.: NYSE Arca
$ 52.20
-0.63 -1.18%
Volume: 97,065
May 18, 2021 1:11p
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