The Homebuilder sector spiked Friday as disappointing jobs report pressured the yield on the 10-year Treasury note lower. The Labor Department reported just 74,000 new jobs were created in December, the lowest in three years, and short of economists’ estimates of 200,000. The yield on the 10-year Treasury note declined 0.10 percent to 2.87 percent Friday. "For the economy overall, the jobs report was disappointing, but better news for housing demand going into 2014," said Jed Kolko, chief economist for Trulia.com. Here is how some homebuilders reacted Friday:
KB Home (NYSE: KBH) shares traded in the range of $17.96 to $18.65 Friday before settling to close at $18.39, an increase of 2.85 percent. The stock appears to be facing some resistance at the $18.73 and $18.82 levels with some support at $18.13. Shares of KB Home have gained approximately 12.0 percent in the past year.
More information on KB Home and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KBH
Lennar Corporation (NYSE: LEN) shares traded in the range of $38.62 to $39.85 Friday before settling to close at $39.19, an increase of 2.0 percent. The stock appears to be facing some resistance at the $39.75 and $40.49 levels with some support at $38.65. Shares of Lennar have fallen approximately 1.0 percent in the past year.
More information on Lennar and access to the free equity report can be found at:
www.WallStreetFundamentals.com/LEN
PulteGroup, Inc. (NYSE: PHM) shares traded in the range of $19.69 to $20.43 Friday before settling to close at $20.16, an increase of 1.87 percent. The stock appears to be facing some resistance at $20.40 with some support at the $19.71 and $19.42 levels. Shares of PulteGroup have gained approximately 4.0 percent in the past year.
More information on PulteGroup and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PHM
Toll Brothers Inc. (NYSE: TOL) shares traded in the range of $36.15 to $37.25 Friday before settling to close at $36.73, an increase of 1.97 percent. The stock appears to be facing some resistance at $37.00 with some support at the $35.88 and $35.16 levels. Shares of Toll Brothers have gained approximately 6.0 percent in the past year.
More information on Toll Brothers and access to the free equity report can be found at:
www.WallStreetFundamentals.com/TOL
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