Home-builder Shares Lift After FOMC News

MarketWatch Pulse

Investors traded up shares of major builders Wednesday afternoon after the Federal Reserve said it expects interest rates will rise at a slower pace than previously forecast. At about 10 minutes after the Fed's 2 p.m. announcement, shares of D.R. Horton were close to flat, compared with a drop of 0.6% right before the news. Meanwhile, shares of PulteGroup were recently up 0.4%, compared with being off 0.2% right before the news. And shares of Lennar were recently down 1%, compared with a drop of 1.6% just before 2 p.m.

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