Housing Starts Surge in May, Juicing Market

Everyone say "thank-you" to the homebuilders.

Because of them, some investors could see the light today after a Monday spent in darkness. Renewed hope of an end to the housing slump following news of a 17% surge in new starts sent many construction company shares into positive territory during the morning session.

Builders whipped out their shovels and dug in at a big rate in May as new housing starts improved to an annual rate of 532,000 in May from 454,000 in April. Though the month-over-month news beat most estimates, the numbers are still off 45% from last May's rates. ...