The SPDR S&P Homebuilders ETF (XHB) is the IBD Stock Of The Day. The housing ETF is offering an early buying opportunity as homebuilding and related stocks such as Lennar (LEN) Home Depot (HD), and Floor & Decor (FND) break out or set up again.
U.S. homebuilding increased more than expected in June, according to data from the Commerce Department, as city dwellers look for more spacious housing outside cities amid the Covid-19 pandemic. Low-interest rates have also fueled housing demand. Read More
Note: This article originally appeared at Investor’s Business Daily.