Homebuilding stocks have reached new highs this year, and State Street's Matthew Bartolini sees more upside in store when the Federal Reserve begins cutting rates.
"The thesis just comes down to economic resilience that is fueled by a strong labor market and a healthy consumer," said the managing director and head of SPDR Americas research.
XHB YTD mountain Homebuilding ETF has surged more than 15% this year.
The SPDR S & P Homebuilders ETF (XHB) has rallied nearly 17% year to date and about 70% over the past year.
Homebuilding stocks have also benefited from a resilient economy that is led by a healthy labor market, and they stand to gain even more in a Federal Reserve rate-cutting cycle.
Persons:
Matthew Bartolini, Bartolini
Organizations:
State, Federal Reserve, SPDR, Sonoma, Products, Carlisle Companies, Builders, Fed
Locations:
SPDR Americas, Williams