Stock Market Update
25-Mar-25 12:30 ET
KBH weighs on homebuilders
Dow -60.95
at 42522.37,
Nasdaq +29.32
at 18217.92,
S&P -1.98
at 5765.59
[BRIEFING.COM] The S&P 500 dipped below its prior close in recent trading, trading fractionally lower.
Homebuilders are a pocket of weakness in the market after disappointing guidance from KB Home (KBH 58.86, -2.98, -4.7%). The SPDR S&P Homebuilder ETF (XHB) trades 0.2% lower.
KB Home reported below-consensus Q1 earnings and lowered its FY25 housing revenue outlook, piling onto concerns of an intensifying housing market slowdown. This comes less than one week after competitor Lennar (LEN 118.73, +1.17, +1.0%) issued soft 2Q25 EPS and deliveries guidance.
