Homebuilder stocks rise as inflation data boosts Fed rate-cut hopes

Investing.com -- Homebuilder stocks climbed Friday as tame inflation data increased expectations for Federal Reserve interest rate cuts, pushing down the 10-year Treasury yield.

The S&P 1500 Homebuilding Index rose about 2.1%, with most index members trading higher. Taylor Morrison Home Corp led gains with a 6.3% increase, followed by Meritage Homes Corp, which added 5.5%.

Century Communities Inc shares climbed 5%, while KB Home rose 3.9% and LGI Homes Inc advanced 3.1%.

Separately, Tri Pointe Homes shares surged as much as 27%, after Japanese company Sumitomo Forestry announced plans to acquire the US-based homebuilder for approximately $4.28 billion.

You May Also Be Interested In

• Boardwalktech updates private placement structure to add U.S. investors
• Tarsus Pharmaceuticals (TARS) PT Lowered to $89 at Guggenheim
• Morgan Stanley sees AI adding billions to mortgage refinancing market