Homebuilder stocks in broad rally to records after big jump in housing starts data

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The homebuilder sector enjoyed a unanimous rally toward a record Friday, after data showing that new-home construction in March surged more than expected. the SPDR S&P Homebuilders ETF
XHB,
+2.16%
rallied 1.6% toward a record close, with all 35 equity components gaining ground. Among the more active homebuilders, shares of Toll Brothers Inc.
TOL,
+2.92%
climbed 1.9% and D.R. Horton Inc.
DHI,
+3.57%
hiked up 2.3%, both into record territory, while Lennar Corp.
LEN,
+2.88%
advanced 1.0%, in range of its April 9 record close of $105.52. Also in the homebuilders ETF, shares of Home Depot Inc.
HD,
+1.65%
rallied 1.3% and Lowe’s Companies
LOW,
+1.80%
jumped 1.5%, both toward record closes. The homebuilders ETF has run up 29.6% year to date, while the S&P 500
SPX,
+0.36%
has gained 11.2%. Housing starts in March rose 19% from February to a seasonally adjusted annual rate of 1.74 million, topping expectations of 1.62 million.

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