Three Major Indexes Fall, Most Tracked Housing Stocks Follow

Weakness in the energy and materials sector and investors’ concern over unknown but coming Federal Reserve policy led to the drop in the three major indexes today. CNNMoney reports the Dow Jones Industrial Average dropped -0.50 percent, -76.49 points, to close at 15,177.54. The Nasdaq moved down -0.58 percent, -20.11 points, to end the day at 3,445.26, while the S&P lost -0.55 percent, -9.04 points, to finish at 1,631.38. The Yahoo! Finance Manufactured Housing Composite fell -3.04 percent to close at 1020.7. Most housing stocks we track closed down or even, although Affiliated Managers Group squeezed out a gain of +0.41 percent, +0.67, to close at 163.73. Cavco Industries, Inc. dropped the most of stocks we follow, falling -2.71 percent, -1.34, to end the session at 48.13. Champion, Liberty Homes and Palm Harbor continued unchanged. Deer Valley remained at 0.60. Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway 170.050 -861.00 (-0.49%). Drew Industries 37.74 -0.44 (-1.15%). Equity LifeStyle Properties, Inc. 77.74 -0.53 (-0.68%). Louisiana Pacific Industries, Inc. 16.94 -0.40 (-2.31%). Nobility Homes remained unchanged at 7.25. Patrick Industries, Inc. 19.21 -0.32 (-1.64%). Skyline Corp. 4.19 +0.03 (+0.72%). Sun Communities, Inc. 50.12 -0.03 (-0.06%). Third Avenue Value Fund (May 29) 54.70 +0.12 (+0.22%). UMH Properties, Inc. 10.44 -0.15 (-1.41%). Universal Forest Products, Inc. 39.96 -0.43 (-1.06%).

(Graphic credit: CNNMoney and RealTick)

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