Stock Market Update
23-Sep-26 10:30 ET
Homebuilder stocks lower
Dow -60.39
at 51803.30,
Nasdaq -331.80
at 26933.52,
S&P -31.54
at 7733.10
[BRIEFING.COM] The S&P 500 (-0.6%) and Nasdaq Composite (-1.1%) continue to move lower, while the DJIA (-0.1%) holds a more modest loss.
Homebuilder stocks are under pressure this morning, with the iShares U.S. Home Construction ETF down 1.3% amid higher Treasury yields and renewed concerns about the policy outlook.
Fed Governor Michael Barr (voting FOMC member) said further policy adjustments are likely to be needed in his base case to ensure inflation returns to target in a timely fashion, reinforcing the higher-rate backdrop that remains a headwind for housing.
Meanwhile, KB Home (KBH 48.37, -0.22, -0.45%) is trading modestly lower following its quarterly report after management backed away from its prior expectation for sequential fourth-quarter margin improvement. The company cited weaker housing demand, pricing pressure, higher costs, and an unfavorable Southern California mix, adding to concerns surrounding affordability and profitability across the homebuilding industry.
