US Homebuilder Permits Rise, Markets Rally

Building permits unexpectedly rose in June, and the markets rallied around this piece of good news. Building permits are a good measure of future building. Pulte

is up 3.9% to $8.24. Lennar

is up 4.8% to $14.48. KB Home

is up 5.04% to $10.84. Toll Brothers

is up 3.76% to $16.84. D.R. Horton

is up 3.61% to $10.33. In other news, Harley Davidson absolutely killed their 2Q estimates, and shares rose 12.37% on the news to $26.53.