May Day begins with Three Indexes, Most Tracked Housing Stocks Down

For the past three years it has been a case of “Sell in May and Go Away” in the stock market, and that is how the first of May has begun, with all three indexes down on the day nearly one percent, and manufacturing and retail activity slowing. CNNMoney reports the Dow Jones Industrial Average dropped -138.85 points, -0.94 percent, to end the day at 14,700.95. The Nasdaq lost -0.89 percent, -29.66 points, to close at 3,299.13, while the S&P moved down -0.93 percent, -14.87 points to end the day at 1,582.70. The Yahoo! Finance Manufactured Housing Composite fell -2.68% percent to close at 1618.3. Most housing stocks we track closed down or even, although Third Avenue Value Fund (April 30) managed to squeeze out a plus, gaining +0.70 percent, +0.38 points to end the trading session at 54.44. . Universal Forest Products, Inc. fell the most of stocks we follow, -1.85%. -4.79% points, to close at 36.75. Affiliated Managers Group 150.72 -4.96 (-3.19%). Cavco Industries, Inc. 43.57 -2.05 (-4.49%). Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway 159,699 +699.00 points (+0.44%). Champion, Liberty Homes and Palm Harbor continued unchanged. Deer Valley remained at 0.74. Drew Industries 34.89 -1.21 (-3.35%). Equity LifeStyle Properties, Inc. 81.61 +0.36 (+0.44%). Louisiana Pacific Industries 17.46 -0.66 -3.64%). Nobility Homes 5.60. -0.15 (-2.61%). Patrick Industries 19.85 -0.41 (-2.02%). Skyline Corp remained unchanged at 4.53. Sun Communities, Inc. 49.74 -1.41 (-2.76%). UMH 10.92 -0.13 (-1.18%).

(Graphic credit: CNNMoney and RealTick)

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