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Homebuilders ETF sees best day in 8 months after earnings, data

A worker prepares to move a piece of pipe into place as he works on new home construction in Petaluma, Calif.
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A worker prepares to move a piece of pipe into place as he works on new home construction in Petaluma, Calif.

The S&P Homebuilders ETF rose nearly 3 percent Tuesday after the release of U.S. home sales and earnings numbers.

The ETF saw its best day since May 24, 2016, when it gained 3.06 percent.

The ETF's gain came after the number of for-sale listings fell again in December to the lowest level since 1999, according to the National Association of Realtors on Tuesday.

D.R. Horton was among the top gainers in the ETF, up more than 6 percent Tuesday after its quarterly results surpassed Wall Street's expectations and reaffirmed its full-year guidance. Homebuilders Lennar and Pulte gained nearly 6 percent during the session.

With Tuesday's gains, the S&P Homebuilders ETF is up 4 percent year to date.

SPDR S&P Homebuilders ETF 5-day chart