Homebuilders ETFs Rally as Sales Hit 8-Year High
May 24, 2016 at 13:53 PM EDT
U.S. new home sales experienced their best month in over eight years, buttressing homebuilders sector-related exchange traded funds. On Tuesday, the SPDR S&P Homebuilders ETF (NYSEArca: XHB) rose 2.9% and iShares U.S. Home Construction ETF (NYSEArca: ITB) gained 3.8%. XHB broke above its...