Indexes Mixed, Bernanke Nixes Stimulus (for now)

A surprise rate cut by China’s central bank to encourage market growth spurred investors, but the rally was short lived following Fed Chairman Ben Bernanke’s assertion that no stimulus was imminent but may be utilized in the future. Still, CNNMoney tells us the Dow Jones Industrial Average managed to show a positive side, gaining 46.17 points, +0.37 percent, to close at 12,460.96. The Nasdaq fell nearly half of a percentage point to 2,831.02, while the S&P edged down a mere +0.01 percent to 1,314.99. Meanwhile, the Yahoo! Finance Manufactured Housing Composite went up +0.63 percent to close at 1013.6. Housing stocks we track closed mixed. Third Avenue Value Fund gained the most of stocks we follow, (6-6) gaining +2.91%, +1.20, to close at 42.40. Skyline Corp. fell the most of stocks we follow, -2.03%, -0.09, to end the day at 4.35. Affiliated Managers Group 103.23 +1.55(+1.52%). Cavco Industries 47.20 +1.20 (+2.60%). Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway 121,175 +434.00 (+0.36%). Champion, Liberty Homes, Deer Valley and Palm Harbor all remained unchanged. Drew Industries 26.93 -0.05 (-0.19%). Equity Lifestyle Properties 67.72 -0.03 (-0.04%). Louisiana Pacific Corp. 9.37 +0.10 (+1.08%). Nobility Homes 6.35 -0.10 (-1.55%). Skyline Corp. 4.35 -0.09 (-2.03%). Sun Communities 41.25 -0.12 (-0.29%). United Forest Products, Inc. 37.38 +0.87 (+2.38%). UMH Properties 10.29 -0.13 (-1.25%).

(Graphic credit: CNNMoney and RealTick)

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