Allegheny Technologies Incorporated (ATI), The Boeing Company (BA), PulteGroup, Inc. (PHM): Monday’s Three Best Stocks

Finally, homebuilders in general had a good day, but none more so than PulteGroup, Inc. (NYSE:PHM), which rose 3.8%. Although no company-specific news was behind today’s move, it isn’t too far-fetched an idea to assume that investors were pleased to see Larry Summers drop out of contention for becoming the new Fed chairman. Among the sectors concerned about Summers; being appointed to the position are those that are highly sensitive to interest rate changes, like the homebuilding sector, since the Fed is responsible for setting the targets for the federal funds eate. With Summers now out of the picture, investors feel confident that a Wall Street- and government-neutral chairman will be nominated for the position, thus (hopefully) having a minimal impact on interest rates and PulteGroup, Inc. (NYSE:PHM)’s total home sales.

The article Today’s 3 Best Stocks originally appeared on Fool.com and is written by Sean Williams.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.The Motley Fool owns shares of Lockheed Martin and recommends Kennametal.

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