Is the Gloom Lifting for Homebuilders?

Stocks in the sector shot higher Tuesday after JP Morgan upgraded three big names in the group, saying the worst of the downturn may have passed

Investors drove up shares of the major U.S. homebuilders Oct. 10 after JP Morgan upgraded DR Horton (DHI), Toll Brothers (TOL), and Standard Pacific (SPF), citing stabilized inventories, while the Dallas Fed president suggested fears of a housing correction were overblown.

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