Homebuilder stocks got a jolt Wednesday on news that a key inflation index was in line with expectations.
Wall Street read the news as a sign the Federal Reserve may not to have to move as aggressively on future interest rate hikes.
Shares of Irvine-based Standard Pacific Corp. rose 1.2% to $73.8. William Lyon Homes Inc. of Newport Beach also saw its stock rise about 1% to $82.5.
The Consumer Price Index rose 0.1% in January. Economists had expected a 0.2% rise.
