Housing stocks were mixed in early trading Friday, Oct. 6, after September's jobs report whiffed on expectations and contracted for the first time in seven years.
Shares of the SPDR S&P Homebuilders ETF (XHB) , a fund tracking equities in the housing sector, were slightly lower by 0.12% to $40.39 following the jobs report.
Shares of homebuilders KB Home (KBH) gained 0.16% to $25.68 just after the market open. D. R. Horton Inc. (DHI) shares traded up 0.42% to $40.79, while PulteGroup, Inc. (PHM) stock moved higher 0.17% to $27.25 premarket Friday.
Companies engaged in the construction and sale of homes also moved in early trading.
Analysts surveyed by FactSet predicted the U.S. economy would add 85,000 jobs in September, suggesting experts thought the string of hurricanes that hit the country last month might skew job growth.
September's jobs figure represents a sharp slowdown from the 156,000 jobs added in August. The measure hasn't fallen below 100,000 since March and has only been below that level four times in the past five years.
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