Deer Valley Spikes, Patrick Jumps Up, Major Indexes Rise Solidly

The release of minutes from March’s Federal Reserve meeting revealed most all of the members agreed getting rid of the 6.5 percent benchmark as an indicator for timing interest rate increases was a wise move. Investors interpreted that to mean interest rates will continue to remain low, which boosted all three major indexes above one percent in today’s trading, sending the Nasdaq up +1.72 percent, +70.91 points, to 4,183.90. CNNMoney reports the Dow Jones Industrial Average climbed +1.11 percent, +181.04 points, to close at 16,437.18, while the S&P advanced +1.09 percent, + 20.22 points, to finish at 1,872,18. The Yahoo! Finance Manufactured Housing Composite moved up +2.07 percent to close at 748.40. Most housing stocks we follow in today’s trading closed up, ELS closed down, the remainder closed even. Deer Valley skyrocketed up +33.33 percent, +0.25 points, to close at 1.00. Equity LifeStyle Properties was the only tracked stock to fall, edging down -0.09 points -0.22 percent, to end the trading day at 40.64. Affiliated Managers Group 192.29, +1.10, (+0.58%). Cavco Industries 7924 +1.74 (+2.25%). Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway 185,897 +1,257.00 points (+0.68%). Drew Industries, Inc. 51.54 +0.63 (+1.24%). Drew Industries 52.29 +0.75 (+1.46%). Liberty Homes remained steady at 0.80. Louisiana Pacific Corp. 16.59 +0.13 (+0.79%). Nobility Homes closed unchanged at 11.75. Patrick Industries 40.72 +2.52 (+6.27%). Skyline Corp. remained steady at 5.65. Sun Communities, Inc. 44.46 +0.21 (+0.47%). Third Avenue Value Fund (April 8) 58.25 +0.32 (+0.55%). UMH Properties remained unchanged at 9.87. Universal Forest Products, Inc. 56.18 +0.99. (+1.79%) ##

(Graphic credit: CNNMoney and RealTick)

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