Stock indices spike: Homebuilders are on the watch list (CTX, TOL, LEN, DHI, PHM)

Posted in General 
June 24th, 2009

The Dow Jones Industrials (DJIA) spiked on volume at 8:30 a.m. Eastern, after the release of stronger-than-expected May durable goods orders. Orders rose 1.8%, vs. consensus expectation of a 0.9% decline. The prior month’s results were revised slightly lower, up 1.8% vs. the previously reported 1.9%.

Stocks to watch later this morning may include Centex Corp (NYSE: CTX), Toll Brothers, Inc. (NYSE: TOL), Lennar Corp. (NYSE: LEN), D.R. Horton Inc. (NYSE: DHI), Pulte Homes, Inc. (NYSE: PHM) and the other homebuilders. New home sales data is expected at 10 a.m. Eastern.

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