D.R. Horton, Inc. is a homebuilding company, which engages in the construction and sale of single-family housing. It operates through the following geographical segments: Northwest, Southwest, South Central, Southeast, East, and North. The Northwest segment includes Colorado, Oregon, Utah, and Washington. The Southwest segment includes Arizona, California, Hawaii, Nevada, and New Mexico. The South Central segment focuses on Arkansas, Oklahoma, and Texas. The Southeast segment includes Alabama, Florida, Louisiana, and Mississippi. The East segment includes Georgia, North Carolina, South Carolina, and Tennessee. The North segment focuses on Delaware, Illinois, Indiana, Iowa, Kentucky, Maryland, Minnesota, Nebraska, New Jersey, Ohio, Pennsylvania, Virginia, and West Virginia. The company was founded by Donald Ray Horton in 1978 and is headquartered in Arlington, TX.
A group of 51 stocks in the benchmark equity index swept to record finishes on Tuesday, the most since April 20, 2022, according to a tally from Dow Jones Market Data.
Equities have been in a year-end rally mode, driven higher by tumbling benchmark yields that finance much of the U.S. economy and expectations of coming interest-rate cuts.
The 10-year Treasury rate BX:TMUBMUSD10Y
fell to 4.2% on Tuesday from a high of about 5% in October.
The Dow Jones Industrial Average DJIA
on Tuesday ended at its third-highest level on record, while the S&P 500 index SPX
and Nasdaq Composite Index COMP
added to a string of new closing highs for 2023. The Dow finished 0.6% away from its record close logged almost two years ago, while the S&P 500 was only 3.2% below its close from the same period, according to Dow Jones Market Data.
The push higher for stocks followed inflation data for November that showed price pressures continued to ease from peak levels, but still were above the Fed’s 2% annual target.
The consumer-price index pegged the annual rate of inflation at 3.1%, down from 3.2% in October, with the “last mile” of inflation expected to be the hardest part to tame.
Investors now will be focused on Wednesday’s Federal Reserve decision. Short-term interest rates are expected to remain unchanged at a 22-year high, but the central bank is expected to update its “dot plot” forecast of rates over a longer time horizon.
“Although the market will focus on the timing of rate cuts, we suspect Chair Powell will be keen to strike notes of caution to avoid financial conditions easing too much further to ensure the Fed continues to see encouraging progress on inflation,” said Emin Hajiyev, senior economist at Insight Investment, in emailed comments.
Home prices keep going up, defying mortgage rates at 23-year highs and a housing market that hasn’t been this unaffordable since the 1980s. Everything looks steady on the surface but prolonged national U.S. home price declines could be around the corner for the first time in more than a decade, according to one housing expert.
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These Stocks Are Moving the Most Today: FedEx, Klaviyo, KB Home, CrowdStrike, and More
Stock futures traded lower Thursday after equities dropped as the Federal Reserve held interest rates steady but signaled that one more quarter-point rate hike was possible this year.
With the threat of inflation back at the forefront for many investors, there’s one large stock-market investor positioning for it to be a decade-long phenomenon. In a note posted to the firm’s website, Chief Investment Officer William Smead of Phoenix-based Smead Capital Management, which oversees $5.83 billion in assets, said “we are loaded with inflation beneficiary stocks like oil and gas stocks and useful real estate.” The firm likes home builder D.R. Horton DHI; Simon Property Group SPG, a real estate investment trust…
The home-building sector enjoyed a broad rally in morning trading Tuesday, after data showing existing-home sales in February rose a lot more than expected. The iShares U.S. Home Construction exchange-traded fund ITB, +0.99%
climbed 1.3% toward a five-week high, with all 48 equity components gaining ground. Among the ETF’s more active components, shares of Home Depot Inc. HD, -0.02%
advanced 0.9%, D.R. Horton Inc. DHI, +0.04%
rose 0.5%, KB Home KBH, +2.83%
tacked on 2.4%, Lennar Corp. LEN, +1.27%
rallied 1.3% and PulteGroup Inc. PHM, +1.03%
was up 1.1%. The National Association of Realtors said Tuesday that existing-home sales for February leapt 14.5% to an annual rate of 4.58 million, the largest increase since July 2020, enough to reverse 12 months of losses and well above expectations of 4.2 million. The home construction ETF has hiked up 12.0% over the past three months, while the S&P 500 SPX, +1.27%
has gained 2.7%.
D.R. Horton, Inc. engages in the construction and sale of single-family housing. It operates through the following segments: Homebuilding, Forestar, Financial Services, and Rental. The Homebuilding segment includes the acquisition and development of land and the construction and sale of residential homes. The Forestar segment invests in land acquisition and development to expand its business across the United States. The Financial Services segment sells mortgages and collects fees for title insurance agency and closing services. The Rental segment consists of multi-family and single-family rental operations. The company was founded by Donald Ray Horton in 1978 and is headquartered in Arlington, TX.
