U.S. equities and stock exchange traded funds bounced back on Tuesday as strong fourth quarter earnings numbers help draw investors.
The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEArca: SPY), iShares Core S&P 500 ETF (NYSEArca: IVV) and Vanguard 500 Index (NYSEArca: VOO), were 0.7% higher Tuesday.
Lifting markets higher, D.R. Horton, the largest American Homebuilder, revealed earnings that topped estimates in a sign that the tighter labor market is helping consumers, Bloomberg reports. Horton’s results come amid data revealing increased home construction and greater demand as mortgage rates begin to rise with higher rates.
The materials sector also led gains in the S&P 500, with the Materials Select Sector SPDR (NYSEArca: XLB) 2.6% higher.