1436 ET [Dow Jones]--Home builder shares move higher as Federal Reserve Chair Jerome Powell opens the door for rate cuts next month, citing risks that inflation could keep rising while the labor market continues to weaken. The CME's FedWatch tool now shows odds of a September cut at 87%, up from 75% yesterday. The industry has been under pressure as elevated mortgage rates and relatively high home prices continue to keep many potential buyers on the sidelines. Hovnanian Enterprises leads the climb, up 9.1%, while Beazer Homes USA and KB Home rise 7.8% and 7.4%, respectively. PulteGroup gains 5.7%. Lennar and Toll Brothers both edge up about 5.3%. (kelly.cloonan@wsj.com)
(END) Dow Jones Newswires
August 22, 2025 14:43 ET (18:43 GMT)
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