In the sometimes-topsy-turvy world of investors good news can be bad news. The U.S. jobs report was surprisingly strong, which causes some analysts to fear that the Fed now may hold off on an interest rate cut. Other factors covered in our financial bullet headlines are below. Our spotlight this evening will be on sectors that gained jobs – most – and the pair that reported losses in employment.
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.” ©
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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.
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Today’s markets and stocks snapshot, at the closing bell…
Today’s MH Market Spotlight Report –
Left-of-center CNBC studied the net changes of jobs by industry for June jobs based on the data from the Labor Department contained in the jobs report. The federal agency said the U.S. economy added a 224,000 jobs last month, some 59,000 more than the 165,000 increase expected by economists polled by Dow Jones. The right-of-center Fox Business video recaps the numbers with their commentary.
The manufacturing industry, which President Donald J. Trump likes to spotlight, was stronger in June with an additional 17,000 jobs. The manufacturing sector added just 3,000 jobs in each of both May and April following a contraction in March.
“In June, notable job gains occurred in professional and business services, in health care, and in transportation and warehousing,” the Labor Department said in a release. “Professional and business services added 51,000 jobs in June, following little employment change in May (+24,000). Employment growth in the industry has averaged 35,000 per month in the first half of 2019.”
“Manufacturing employment edged up in June (+17,000), following 4 months of little change,” the Labor Department continued. “So far this year, job growth in the industry has averaged 8,000 per month, compared with an average of 22,000 per month in 2018.”
Those who looked at the tepid jobs report last month said that it suggested that a recession was ahead. That theory keeps getting floated, but there is steady evidence that such is not the case. The outlook is good, and what happens on Election Day 2020 could clearly impact the economy. So what occurs between now and then will be important to watch.
Yahoo Finance 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.