D.R. Horton Shares Climb on Renewed Fed Rate Cut Speculation

Shares of U.S. homebuilding giant D.R. Horton (DHI) posted significant gains on Friday, propelled by investor optimism for lower interest rates following a surprisingly weak U.S. employment report. The stock advanced 3.27 percent, closing the trading session at $182.46. The disappointing jobs data fueled speculation that the Federal Reserve could move to cut rates sooner than anticipated, a scenario that would create a more favorable mortgage environment and directly benefit the nation’s largest homebuilder.

A key catalyst for the market movement was the August employment report, which fell dramatically short of economist forecasts. The U.S. Labor Department reported a mere 22,000 new non-farm payrolls, a figure starkly lower than the anticipated 75,000. Concurrently, the national unemployment rate climbed to Read more...