Invesco Building & Construction ETF

PKB

Market cap $438M

According to the Census Bureau, new home sales were at a seasonally adjusted annual rate of 622,000 in April. This represents a 6.2% decline from March's rate of 663,000 and an 11.3% drop from the previous year.

Mortgage rates hit 6.75%, hurting US homebuilders, while one construction ETF gains from booming AI and infrastructure demand.

Designed to provide broad exposure to the Industrials - Engineering and Construction segment of the equity market, the Invesco Building & Construction ETF (PKB) is a passively managed exchange traded fund launched on October 26, 2005.

Surging oil prices and hotter inflation reports reignited rate-hike concerns, sending Treasury yields to one-year highs as the Iran conflict remained stalemated despite the highly anticipated Trump-Xi summit.

According to the Census Bureau, new home sales were at a seasonally adjusted annual rate of 682,000 in March. This represents a 7.4% increase from February's rate of 635,000 and a 3.3% rise from the previous year.

U.S. equity markets advanced for a fifth straight week - their longest winning streak since 2024 - as strong earnings, resilient data, and hopes for lasting Iran peace fueled optimism. Investors looked through another oil-price surge and inflationary pressure, focusing instead on corporate resilience and economic strength despite a complex macro backdrop shaped by geopolitical and policy uncertainty. The Fed held rates steady in an unusually fractured 8-4 vote, while Powell's plan to remain on the Board broke precedent and raised politically charged succession questions.

Invesco Building & Construction ETF (PKB) is downgraded to hold after a 26% rally and elevated valuation. PKB trades at a 20.8x P/E, over 5 turns higher than prior review, with a PEG near 2, reflecting stretched valuation. Momentum and technicals remain favorable, with bullish seasonality through July and a potential upside target of $118.

March jobs data highlights sector winners -- Healthcare, Transport & Construction ETFs gain as hiring rebounds and steady demand supports growth.

Designed to provide broad exposure to the Industrials ETFs category of the market, the Invesco Building & Construction ETF (PKB) is a smart beta exchange traded fund launched on 10/26/2005.

New home sales unexpectedly sank to their lowest level since 2022 in January. According to the Census Bureau, new home sales were at a seasonally adjusted annual rate of 587,000 in January.