Real Estate Stocks Soar to Best Day of Year on Rate Cut Bets

A home for sale in a neighborhood of Seattle, Washington. Photographer: David Ryder/Bloomberg --

Arguably the most significant news to come from the latest consumer price index reading was a pullback in housing-related inflation. Shelter costs rose just 0.2% for the slowest monthly increase in three years. Homebuilders, which have risen 7.1% this year, were up 7.3% for the session, the most since 2022. Shares of D.R. Horton Inc., which is scheduled to report earnings next Thursday, gained 7.3%.

A rally in real estate stocks is bad news for short sellers who have been piling into the group, which is the worst performer in the S&P 500 this year. To start the week, short interest as a percentage of float hovered near 49% in the SPDR Homebuilders ETF, the highest level since February for the exchange-traded fund, according to data from S3 Partners.

Argentina Últimas Noticias, Argentina Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Stocks, Real Estate Push Canada Household Net Worth to New HighCanadian households’ net worth rose for a second consecutive quarter, rising 3.3% to reach a record high of C$16.9 trillion ($12.3 trillion), Statistics Canada reported on Thursday.
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »

Rate-Cut Hopes Trigger Rally for Left Behind Real Estate StocksEven some of the most out-of-favor US stocks are being swept up in the latest rally, with the surprisingly cool inflation report rekindling speculation that rate cuts are coming this year.
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »

Canadian investors eye utilities, real estate stocks as BoC cuts ratesProspect of increased loan demand could help bank shares
Fuente: globeandmail - 🏆 5. / 92 Leer más »

Canadian investors eye utilities, real estate stocks as BoC cuts ratesCanadian utility and real estate stocks are likely to be among the biggest beneficiaries of the Bank of Canada's move to begin cutting interest rates, while ...
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Six airline stocks set to soar on summer travelWe are looking for airlines with sustainable dividends ready for summer demand and an Olympics surge
Fuente: globeandmail - 🏆 5. / 92 Leer más »