Although they have not been immune to the recent pullback in U.S. equities, homebuilders stocks and the relevant exchange traded funds have been leadership groups this year.
The SPDR S&P Homebuilders ETF (NYSE: XHB) and the iShares U.S. Home Construction ETF (NYSE: ITB), the two largest homebuilders ETFs, have each returned more than 3 percent, a far cry from the dismal performance offered by the S&P 500. Going forward, it could take more than the Federal Reserve incrementally boosting interest rates to derail momentum in the construction and homebuilders industry.
“Real estate is one area of the US economy showing undisputed strength, and recent data argues for continued expansion, in my view. With so much momentum built up, I expect that it’s going take more than a few small rate hikes by the Federal ...
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