Homebuilders Add to Recent Gains on Strong Pending Home Sales Number

Homebuilder are strong again this morning following another solid housing datapoint. Today, May Pending Home Sales showed a gain of 6.1% versus an expected 1.5% rise.

Below are some notable moves:

• D.R. Horton, Inc. (NYSE: DHI) +3.2%
• Pulte Group (NYSE: PHM) +1.3%
• KB Home (NYSE: KBH) +0.8%
• Lennar Corp. (NYSE: LEN) +1.9%
• Standard Pacific Corp. (NYSE: SPF) 1.2%
• Toll Brothers, Inc. (NYSE: TOL) 1.3%
• Ryland Group, Inc. (NYSE: RYL) 1.5%
• Meritage Homes Corp. (NYSE: MTH) +1.7%
• Beazer Homes USA, Inc. (NYSE: BZH) +0.8%
• SPDR S&P Homebuilders ETF (NYSE: XHB) +1%

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