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Home builder stocks in broad bounce after upbeat data, Whirlpool earnings

Tomi Kilgore

The home builder sector was broadly higher in afternoon trade Thursday, as upbeat pending home sales data helped provide some relief for investors suffering from a long bout of selling. The SPDR S&P Homebuilders ETF climbed 3.3%, with 33 of 35 components contributing to gains. The ETF had closed Wednesday at the lowest level since Nov. 9, 2016. That followed a 26-session stretch in which the ETF declined 23 times, including a longest-ever losing streak of 13 sessions. The ETF's biggest gainer Thursday was Whirlpool Corp.'s stock , which shot up 7.7% after the home appliances maker reported late Wednesday third-quarter earnings that were well above expectations. Among the ETF's most active stocks, PulteGroup Inc. rallied 5.7%, Lennar Corp. rose 4.8% and D.R. Horton Inc. gained 4.1%. The ETF was still down 14% over the past three months, while the S&P 500 has lost 4.7%.