Shares of housing-related stocks are trading higher following a rise in new home sales.
Portfolio Pulse from Benzinga Newsdesk
Housing-related stocks are trading higher following a rise in new home sales. Stocks of Lennar Corporation (LEN) and Newell Brands (NWL) may be affected.
June 27, 2023 | 6:26 pm
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POSITIVE IMPACT
Lennar Corporation's stock is likely to be positively impacted by the rise in new home sales.
As a major homebuilder, Lennar Corporation (LEN) is directly affected by trends in the housing market. The rise in new home sales indicates a strong demand for housing, which is likely to positively impact LEN's stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Newell Brands' stock may see a positive impact due to the rise in new home sales.
Newell Brands (NWL), a consumer goods company with a portfolio of household items, may see a positive impact on its stock due to the rise in new home sales. As new homes are built and sold, demand for household items typically increases, potentially boosting NWL's revenues and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70