Dow Drops, Housing Stocks Close Mixed

As Spain’s economy contracted for the third quarter in a row and investors fear a wholesale bail-out will be necessary to stabilize the Eurozone’s fourth largest economy, all three indexes closed lower on the day. CNNMoney reports the Dow Jones Industrial Average fell with a thud at the beginning of the trading day to below 12,600, but eventually rallied to close at 12,721.45, falling -101.11 points, -0.79%. The Nasdaq dropped -1.20% to 2,890.15, while the S&P lost -0.89% to 1,350.52. The Yahoo! Finance Manufactured Housing Composite rose +0.41% to close at 1000.6. Housing stocks we track closed mixed or even. Nobility Homes advanced the most of stocks we track, gaining +3.38%, +0.18, to close at 5.50. United Forest Products, Inc. dropped the most of tracked stocks, falling -3.02%, -1.02, to end the day at 32.97. Affiliated Managers Group 105.25 -2.38 (-2.22%). Cavco Industries 46.16 -0.84 (-1.79%). Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway 125,458 -272.00 (-0.22%). Champion, Liberty Homes, Deer Valley and Palm Harbor all remained unchanged. Drew Industries 27.51 +0.01 (+0.04%). Equity Lifestyle Properties 72.16 -0.14 (-0.19%). Louisiana Pacific Corp. 10.60 -0.27 (-2.48%). Patrick Industries, Inc. 12.44 -0.06 (-0.48%). Skyline Corp. 4.93 +0.04 (+0.82%). Sun Communities 46.15 -0.19 (-0.41%). Third Avenue Value Fund (7-20) 44.93 -0.32 (-0.71%). UMH Properties 11.05 +0.05 (+0.45%).

(Graphic credit: CNMoney and RealTick)

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