MarketWatch has a column today about capitalism and the law that merits a good fact-check, but we will defer that topic for another date, as the headlines for today were focused on Federal Reserve Chairman Jerome Powell’s “one word” that sent generally sent stocks down. On a day with slightly more losers than gainers on manufactured home industry connected tracked stocks, Fed Chair Powell’s ‘one key word’ will be our focus for this evening.
If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further below, after the newsmaker bullets and major indexes closing tickers.
The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets. Headlines – at home and abroad – often move the markets. So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©
Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy 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.
This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.
Want to know more about the left-right media divide from third party research? ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.
Select bullets from CNN Money…
- These are the rules
- Here are the 9 things Elon Musk needs permission to tweet about in the future
- Why Tesla is offering rock-bottom solar panel prices
- SpaceX’s mission to the International Space Station delayed by electrical problems
- LIVE UPDATES Stocks finish lower as investors digest Fed comments
- The Fed leaves interest rates alone despite Trump’s demands to cut them
- Jerome Powell has one job: Stay cool
- Has Warren Buffett lost his magic touch?
- Huawei is the only major smartphone brand still growing in China
- Google employees are staging another protest
- Amazon’s HQ2 hiring spree has begun
- Kohl’s won over moms. Now it’s going after Millennials
- Hulu now has 28 million subscribers
- Jaguar Land Rover will build its iconic Defender in Slovakia, not the UK
- Facebook is doubling down on AI to clean up the social network
- LIVE FROM MILKEN Private equity is trying to repair its slash-and-burn image
- Fed chair: ‘Men and women should make the same for the same work’
- Google adds way to auto-delete your location history, web activity
- Information war escalates as Venezuela tries to contain uprising
- PERSPECTIVES Big Tech can’t be trusted. It’s time for regulation
- Facebook makes a major shift
- If your image is online, it might be training facial-recognition AI
- Fake video is coming. The US government is racing to fight it
- Facebook’s bottomless pit of scandals
- America is running out of Impossible Burgers
- Burger King will roll out Impossible Whopper nationwide
- Donut Sticks and bacon sent McDonald’s sales through the roof
- Why Carl’s Jr. tested out a CBD burger
- Can the new Impossible Burger lure meat lovers?
Select Bullets from Fox Business…
- Fed keeps interest rates steady, citing muted inflation
- Stocks end lower for 1st time in 3 days after Fed rate decision
- Private sector hiring in April blows past Wall Street’s expectations
- The biggest winners from Uber’s impending IPO
- What your car says about your credit score
- Billionaire Warren Buffett reveals the 2 things he always carries in his wallet
- Alexandria Ocasio-Cortez’s rebuttal to Chase Bank’s thrifty ‘#MondayMotivation’ tweet goes viral
- Cuomo wants top tax preparers investigated over ‘deceptive’ filing practices
- California farms are suffering from a labor shortage. Here’s why
- Trump hires firm to assess burden of student loan portfolio
- Billionaire Ken Griffin blasts socialism, says ‘soaking the rich doesn’t work’
- Netflix price hikes arrive for all US subscribers in May: What to know
- Subway quietly closed more than 1,000 locations in 2018
- CVS Health CEO rebukes ‘Medicare for All’ push
- 10 jobs that still come with a traditional pension
- Post Office considers 5 day mail delivery as finances languish
- Grey’s Anatomy star Isaiah Washington: The liberal media couldn’t kill me
- Beto O’Rourke’s $5T climate change plan is ‘virtue signaling’: Rep. Matt Gaetz
- Millennials are turning to timeshares, Diamond Resorts CEO says
- Burger King takes on McDonald’s Happy Meals with ‘moody’ boxes
- Thankfully, we are far from the Venezuelan scenario. Let’s keep it that way
- Infrastructure bill: Two cheers for gridlock, Varney says
- Venezuela, a cautionary tale of socialism that started with good intentions
Today’s markets and stocks, at the closing bell…
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 –
We’ll preface the Daily Business News on MHProNews comments and video that follows from CNBC by saying this. Who elected Jerome Powell to preside over the economy?
The answer, of course, is that the Trump Administration nominated Powell, and the Senate confirmed him in February 2018. But millions of Americans ought to question the outsized role the Federal Reserve plays in the U.S. economy.
To consider a contrarian viewpoint, for some time, one of the lonely voices critical of the Federal Reserve in Washington, D.C. was Senator Rand Paul’s father, Congressman Ron Paul.
Starting at about 2:50 on this video, Dr. Paul speaks briefly about the Fed as “a thief.” We’ll use that to tease this big topic for another time.
Think about it. How free is free enterprise, if one word from an appointed bureaucrat can cost you money? Roughly a century of the federal reserve system is arguably enough of a mixed bag of often problematic results that merits another look, another time.
More Americans need to question the status quo. Why is something the way it is? How does it compare to the vision of the founders?
That said, let’s turn to some pull-quotes from left-of-center CNBC today.
Here’s the one word from Jerome Powell that has people raising their eyebrows
That one word? “Transitory.”
- Traders have been speculating that recent weaker inflation readings would concern the Federal Reserve so much that it would cut interest rates later this year. Powell knocked that idea, by explaining that the central bank still sees the weakness as the result of “transitory” factors, such as portfolio management services, lower apparel prices and airfares.
- Stocks were flattish before the Fed statement, and turned negative when Powell began to speak about inflation.
- “The market was pricing in this rate cut. They want a rate cut and this was basically Powell saying, ‘sorry but we’re not.’ You have gold down, the dollar rallying and Treasurys selling off,” said Peter Boockvar, of Bleakley Advisory Group
- On Tuesday, President Donald Trump criticized Fed policy, saying it was holding back the U.S. economy. He said the Fed should cut by one percentage point and restart a program of quantitative easing, a policy tool used during the financial crisis.
Bloomberg Closing Ticker for MHProNews…
NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.
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.
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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.