Building Stocks Lose Momentum

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May's volatility left Wall Street in the red for the month ended May 31, 2006. The Fed raised rates a quarter point at its May 10 meeting, as expected, but the recent release of its notes indicating a June increase pummeled stocks, as did stellar oil prices, weak Wal-Mart sales and soft consumer strength.

June 01, 2006

May's volatility left Wall Street in the red for the month ended May 31, 2006. The Fed raised rates a quarter point at its May 10 meeting, as expected, but the recent release of its notes indicating a June increase pummeled stocks, as did stellar oil prices, weak Wal-Mart sales and soft consumer strength.

An oil pullback at the end of our session helped calm inflation jitters, but news that the Federal Reserve will likely raise rates in June unless inflationary pressures ease erased the gains investors enjoyed in early May.

Our Builders' and Manufacturers' indices tumbled this month, along with the rest of the major markets. The Builders' Index shed 137.60 points, or 11.49 percent of its value, and closed at 1059.77. Of the 36 stocks tracked in the Builders' Index, declining issues outpaced advancing issues by a 6-to-1 margin. On the Product Manufacturers' side, the index lost 17.88 points, or 1.85 percent, and ended at 949.71. Declining issues surpassed advancing issues by a 5-to-1 margin.

For the complete listing of Builders' and Building Product Manufacturer's indices as well as more information on the Wall Street Report, visit www.HousingZone.com/economics.

Building Product Manufacturers' Index
Exchange Symbol Ticker Name Company
NYSE ASD American Standard Companies
NASD AMWD American Woodmark Corp.
NYSE BDK Black & Decker Corp.
NYSE DOW Dow Chemical Corp.
NYSE FO Fortune Brands
NYSE GE General Electric Corp.
NYSE GP Georgia-Pacific Co.
NYSE MAS Masco Corp.
NYSE MYG Maytag Corp.
NYSE MHK Mohawk Industries
NYSE SHW Sherwin-Williams Co.
NYSE SWK Stanley Works
NYSE USG USG Corp.
NYSE WHR Whirlpool Corp.


Price 5/31/2006 Price 4/28/2006 Net Change Percent Change
Product Manufacturers' Index 949.71 967.59 -17.88 -1.85%
Dow Jones Industrial Average 11168.31 11367.14 -198.83 -1.75%
S&P 500 Index 1270.09 1310.61 -40.52 -3.09%
NASDAQ Composite 2178.88 2322.57 -143.69 -6.19%
Gainers/Losers
$ Gainer American Woodwork Corp. 0.38
$ Loser USG Corp. -14.89
% Gainer American Woodwork Corp. 1.09%
% Loser USG Corp. -13.92%
Advancers 2
Decliners 10
Source: Trade Trends (509) 327-1279


Builders' Index
Exchange Symbol Ticker Name Company
NYSE AVB AvalonBay Communities
NASD AVTR Avatar Holdings.
NYSE BZH Beazer Homes USA
NYSE BHS Brookfield Homes Corp.
NYSE CPT Camden Property Trust
AMEX CAV Cavalier Homes
NASD CVCO Cavco Industries
NYSE CTX Centex Corp.
NYSE CHB Champion Enterprises.
NASD CHCI Comstock Homebuilding Companies
NYSE DHI D.R. Horton
NASD DHOM Dominion Homes, Inc.
NYSE FLE Fleetwood Enterprises, Inc.
NYSE HOV Hovnanian Enterprises, Inc.
NYSE KBH KB Home
NYSE LEN Lennar Corp.
NYSE LEV Levitt Corp. (Levitt & Sons, LLC)
NYSE MDC MDC Holdings
NYSE MHO M/I Homes
NYSE MTH Meritage Homes Corp.
NASD NOBH Nobility Homes
AMEX NVR NVR
AMEX OHB Orleans Homebuilders
NASD PHHM Palm Harbor Homes
NYSE PHM Pulte Homes
NYSE RYL Ryland Group
NYSE SKY Skyline Corp.
NYSE JOE The St. Joe Co.
NYSE SPF Standard-Pacific Corp.
NASD TARR Tarragon Corp.
NYSE TOA Technical Olympic USA
NYSE TOL Toll Brothers
NYSE WLT Walter Industries (Jim Walter Homes)
NYSE WCI WCI Communities
NYSE WY Weyerhaeuser Co. (Weyerhaeuser Real Estate Co.)
NYSE WLS William Lyon Homes


Price 5/31/2006 Price 4/28/2006 Net Change Percent Change
Builders' Index 1059.77 1197.37 -137.60 -11.49%
Dow Jones Industrial Average 11168.31 11367.14 -198.83 -1.75%
S&P 500 Index 1270.09 1310.61 -40.52 -3.09%
NASDAQ Composite 2178.88 2322.57 -143.69 -6.19%
Gainers/Losers
$ Gainer William Lyon Homes 11.20
$ Loser NVR -146.00
% Gainer William Lyon Homes 11.19%
% Loser Comstock Homebuilding Cos. -24.68%
Advancers 5
Decliners 30
Unchanged 1
Source: Trade Trends (509) 327-1279


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