Noteworthy headlines on CNNMoney – U.S. stocks have best week since election, Dow and S&P 500 each gain 3% this week. Trump & Boeing: It’s all about China. 21st Century Fox buys Sky for $23 billion. Coca-Cola CEO stepping down. India’s cash crisis is ”a mammoth tragedy.”
Some bullets from MarketWatch – Fed to hike interest rates next week while ignoring the elephant in the room. Mortgage rates soar to fresh 2016 high, Freddie Mac says. Obama orders review of hacking during election. Mark Zuckerberg and Elon Musk expose Silicon Valley’s poor corporate governance.
Oil up 1.12%. Gold down 0.99.
The small-caps Russell 2000 has risen 16 percent and the S&P Mid Cap 400 shot up 12 percent, easily outperforming the Dow, S&P and Nasdaq since Nov. 8. “Is this sustainable? Yes. The market is a forward-looking indicator. If in fact we get regulatory reforms,” CNBC reports Pacer Financial’s Sean O’Hara stated, adding that the small and mid-cap stocks “will benefit greatly from that It’s going to help large caps, but it’s the small and mid caps that that will benefit the most.” That, and the rising Manufactured Housing Composite Value (MHCV), all bode well for independent business and manufactured housing in general.
Three Major U.S. Market Tickers and closing numbers at the bell today…
S&P 500 2,259.53 13.34 (0.22%)
Dow JIA 19,756.85 142.04 (0.72%).
Nasdaq 5,444.50 27.14 (0.44%).
The MH Industry – Today’s Risers and Sliders
The top two gainers for the day were The Carlyle Group (CG) and NorthStar Realty Finance (NRF). The top sliders for the day were UMH Properties Inc. (UMH) and Equity Lifestyle Properties Inc. (ELS). Deer Valley and Killam held steady today, as the stocks are only being bought/sold periodically. (Notice: ALWAYS look at the date on the Bloomberg chart below, as some stocks aren’t traded daily, etc.).
Manufactured Housing Composite Value (MHCV) Ticker
Note: the chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.
Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers. Drew, Patrick, UFPI and LP all supply manufactured housing, while AMG, CG and TAVFX have investments in manufactured housing related businesses. ##
(Image credits are as shown above.)
Submitted by RC Williams to the Daily Business News for MHProNews.