** Brokerage Barclays predicts subdued Q3 earnings for U.S. building products and homebuilders due to slowing markets, but holds a slightly favorable outlook for building products.
** Barclays believes recent reduction in interest rates would only marginally benefit homebuilders
** The more recent jump in rates may still leave the market skeptical and unforgiving around choppy homebuilder earnings prints — Barclays
** Brokerage says preferred overweights for earnings season are Azek Company , Fortune Brands Innovations , and Builders First Source
** Brokerage underweight on Trex Co and SiteOne Landscape Supply
** PHLX Housing Index has risen 21.8% YTD
(Reporting by Khusbu Jena)
((Khusbu.Jena@thomsonreuters.com))
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