Afternoon Rally Drops as many Housing Stocks Follow Suit

Positive corporate news and promising news from President Obama on solving the fiscal cliff problem nudged two of the three major indexes a little higher, although many housing stocks we track lost ground. CNNMoney reports the Dow Jones Industrial Average gained +0.64 percent, +82.71 points, ending the day at 13,034.49. The Nasdaq moved down -0.77 percent, -22.99 points, to close at 2,973.70, while the S&P nudged up +0.16 percent, +2.23 points, to close at 1,409.28. The Yahoo! Finance Manufactured Housing Composite moved down -0.35 percent to close at 1193.2. Most housing stocks we track closed down or even. Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway edged up the most of tracked stocks, +0.42 percent, +554, to close at 131,444. Drew Industries, Inc. fell the most of stocks we track, -4.13 percent, -1.32, to close at 30.64. Skyline corp. was right behind at -4.10%. Affiliated Managers Group 128.27 +0.53 (+0.41%). Cavco Industries 49.75 -0.29 (-0.58%). Champion, Liberty Homes, Deer Valley and Palm Harbor all remained unchanged. Equity LifeStyle Properties 66.28 +0.08 (+0.10%). Louisiana Pacific Industries 16.98 -0.38 (-2.19%). Nobility Homes remained unchanged at 5.50 for the third straight day. Patrick Industries 15.76 -0.45 (-2.68%). Skyline Corp. 3.74 -0.16 (-4.10%). Sun Communities, Inc. 39.24 -0.34 (-0.86%). Third Avenue Value Fund (Dec. 3) 49.06 -0.09 (-0.18%). Universal Forest Products, Inc. 36.78 -0.38 (-1.02%). UMH 10.14 -0.04 (-0.39%).

(Graphic credit: CNNMoney and RealTick)

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