Real estate stocks advance as sentiments favor possible rally (NYSEARCA:XLRE)

Real estate stocks advanced after an in-line inflation data raised rate cut hopes, lifting sentiments in favor of a possible rally in the sector’s stocks.

The Real Estate Select Sector SPDR Fund ETF (NYSEARCA:XLRE) rose 0.54% from last week to close at 40.73. The fund posted gains in two out of the five trading sessions, with a notable increase logged on Friday after the Federal Reserve’s preferred inflation gauge Core PCE price index showed a rise of 0.2% in June.