The 45th President of the United States, Donald J. Trump, isn’t an attorney. But he has access to plenty of them, and he’s been involved in his fair share of litigation over the years.
The president’s take, plus other expert views on a muffled mainstream media report that cost investors billions last Friday, plus more await you in today’s Spotlight Report.
Does the report also raise the question, can media be liable for avoidably flawed reports that cost business or industry money? Since mainstream media often makes avoidable misses in reports about the HUD Code manufactured housing business, this ABC/Brian Ross scenario raises an issue of keen interest to manufactured housing professionals.
With the passage early Saturday of the tax cuts and jobs bill in the U.S. Senate, the markets rose, as did the dollar.
If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline reports are found further below, just beyond the Manufactured Housing Composite Value for today.
The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.
Part of this unique feature provides headlines – from both sides of the left-right media divide – that saves readers time, while underscoring topics that may be moving investors, which in turn move the markets.
Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.
MH “Industry News, Tips and Views, Pros Can Use.” ©
Selected headlines and bullets from CNN Money:
- What the CVS-Aetna deal means for consumers
- Bill O’Reilly sued for defamation by one of his accusers
- Car dealers get last-minute tax break in Senate bill
- Is Trump keeping his manufacturing promises?
- Apple may not need this supplier. Stock crashes 23%
- Lamborghini unveils world’s fastest SUV
- How tax bills hurt undocumented immigrants
- Jessica Alba: I want more women leaders at my company
- Meet the beer baron fighting extradition to India
- Facebook loves London. It’s creating 800 new jobs
Selected headlines and bullets from Fox Business:
- FBI agents’ anti-Trump texts were a bad idea: Robert Ray
- Dow hits record as investors bet on tax cuts
- Average US gas price drops 7 cents to $2.54 for regular
- OPEC oil output falls in November to lowest since May
- CVS, Aetna merger: What it means for you
- Lamborghini races after new customers with first SUV
- Tax reform will push U.S. economy toward inflation: Ben Stein
- Facebook’s Sandberg warns on sexual misconduct backlash for women
- Brian Ross shows media’s hunger to get rid of Trump: Conway
- NJ sports gambling case: Supreme Court leans toward allowing bets
- Beer companies likely big winners in proposed tax plan
- Why do so many seniors claim Social Security early? Blame Congress
- Bill Gates’ top 5 books of 2017
- Kentucky hopes to benefit from renewed horse sales to China
ICYMI – for those not familiar with the “Full Measure,” ‘left-right’ media chart, please click here.
Today’s markets and stocks, at the closing bell…
S&P 500 2,639.44 -2.78(-0.11%)
Dow 30 24,290.05 +58.46(+0.24%)
Nasdaq 6,775.37 -72.22(-1.05%)
Russell 2000 1,532.41 -11.73(-0.76%)
Crude Oil 57.45 -0.91(-1.56%)
Gold 1,279.30 -3.00(-0.23%)
Silver 16.19 -0.11(-0.66%)
EUR/USD 1.1862 -0.0035(-0.29%)
10-Yr Bond 2.38 +0.02(+0.72%
Manufactured Housing Composite Value
Today’s Big Movers
For all the scores and highlights on tracked manufactured home connected stocks today, see the Bloomberg graphic, posted below.
Today’s MH Market Spotlight Report –
“Fake News” Cost Billion$, Cause for Suit?
Is the President, or the Trump Administration, Vulnerable?
The initial damage done Friday morning when ABC News’ Brian Ross incorrectly reported that ‘candidate’ Trump wanted Gen Michael Flynn to make contact with the Russians was evident.
Markets today rose with the passage of the Senate’s version of the Trump tax cuts and jobs bill.
But where some investors harmed by Ross’ incorrect report in a way that would make ABC News liable?
It’s an issue for attorneys. But the presidential tweet indicated his encouragement that it was an offense worthy of legal action.
Careful followers of the Daily Business News would have known for months before Friday morning’s debacle that legal scholars like Harvard Law professor Alan Dershowitz have said that even if then-candidate Trump had made contact with the Russians, it could be unseemly, but not illegal.
Dershowitz said today on Fox and Friends that neither can Congress hold him in contempt of court for doing what is within his constructional powers.
While there are voices that obviously disagree with Dershowitz, video has surfaced that further underscores his point. “State Department spokesman Mark Toner said he saw nothing inappropriate in Trump’s transition team contacting Russian or any other foreign officials,” in mid-January 2017, while still working for the Obama Administration, per the Associated Press (AP).
The bottom-line is simple. There is no there, there. The never-Trump crowd won’t easily give up on their efforts to unseat a duly elected president.
Innocent or ignorant, it may not have been fake news, but it was reporting so botched that billions of dollars vanished in the markets, before they recovered.
Everything else would be details and commentary.
As a market related bonus, check out this special report, linked below.
See Recent Exclusive 1 Year Snapshot of All Tracked Stocks
NOTE: the chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.
NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
LCI Industries, Patrick, UFPI and LP all supply manufactured housing.
AMG, CG and TAVFX have investments in manufactured housing related businesses.
Your link to a recent round of industry praise for our coverage, is found here.
For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”
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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.