$NAIL

needs Fed rate cuts. When rates (and especially mortgage rates) fall, housing demand/affordability improves, which supports homebuilder stocks.
Today’s PPI data weakened the cuts are near story in the short term: Headline PPI MoM +0.5% (expected +0.3%), YoY +2.9%. On the core side (especially services/trade services), there’s a sharper increase, which signals inflation pressure hasn’t fully cooled.
Reuters says that based on PPI components, January core PCE could come in as high as +0.5% MoM; the official PCE print will be released on March 13, 2026
Were rate cuts postponed? It’s too early to say postponed definitively, but this PPI print can push the market’s near term cut pricing further out / make it more cautious.
REJECTED!