U.S. home construction rose 15.7 percent in July to a 1.09 million rate, the fastest pace in eight months. Shares of housing stocks are up sharply on the news.
Some notable names and pre-market gains:
- Toll Brothers TOL - up 1.67 percent
- DR Horton DHI - up 2.70 percent
- PulteGroup PHM - up 1.70 percent
- Hovnanaian HOV - up 1.42 percent
- KB Homes KBH - up 1.97 percent
- Lennar LEN - up 1.67 percent
Shares in the Homebuilder ETF XHB are also trading higher by 1.7 percent.
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