US MARKET UPDATE

Housing stocks rallied on Friday and the industry group should get more good news next week, though sustained and robust future gains may depend on wage growth and other signs of improving home affordability.
Even with a 2.3 percent gain on Friday, the S&P 500 homebuilding index is up just 3.7 percent for the year. The broader PHLX housing index, including builders, building products and mortgage companies, is up 7.8 percent for 2015 but down 2.7 percent from its 2015 high hit in early April.

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