Stock Market Update

[BRIEFING.COM] The major indices continue to trade in mixed fashion. The S&P 500 and Nasdaq Composite are lower while the Dow Jones Industrial Average and Russell 2000 trade higher. 

Homebuilder stocks are some of the top performers today in response to the cooler-than-expected CPI report and drop in market rates. Lower rates would drive mortgage rates down from elevated levels, which has been a headwind for the industry. 

D.R. Horton (DHI 149.04, +9.46, +6.8%), KB Home (KBH 72.92, +6.07, +9.1%), Lennar (LEN 154.31, +8.59, +5.9%), PulteGroup (PHM 113.93, +6.78, +6.3%),  and Toll Brothers (TOL 120.02, +6.73, +5.9%). 

iShares US Home Construction ETF (ITB) shows a 5.5% gain and the SPDR S&P Homebuilder ETF (XHB) sports a 5.4% gain.