U.S. Stocks Snooze on Fed Chair’s Remarks

The Federal Reserve’s quantitative easing policy will continue, according to Fed Chairman Ben Bernanke, but that was not enough stimulus to stimulate investors’ appetites as two of the three major indexes closed flat on hump day. CNNMoney reports the Dow Jones Industrial Average dropped -0.02 percent, -2.99 points, ending the day at 13,245.45. The Nasdaq lost -0.28 percent, -8.48 points, to close at 3,013.82, while the S&P nudged up +0.04 percent, +0.64 points, to close at 1,428.48. The Yahoo! Finance Manufactured Housing Composite lost -1.31 percent to close at 1186.2. Housing stocks we follow moved modestly up or down, similar to yesterday, or closed even. Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway gained the most of tracked stocks, +2.42 percent, +3,169, to end the day at 134,000. Cavco Industries fell the most of tracked stocks, -2.81 percent, -1.40, to close at 48.44. Affiliated Managers Group 129.19 +0.10 (+0.08%). Champion, Liberty Homes, and Palm Harbor all remained unchanged. Deer Valley 0.59 +0.01 (+2.04%). Drew Industries 30.75 -0.03 (-0.10%). Equity LifeStyle Properties 66.61 +0.44 (+0.66%). Louisiana Pacific Industries 17.51 -0.16 (-0.91%). Nobility Homes remained unchanged at 5.35. Patrick Industries, Inc. 15.34 -0.01 (-0.07%). Skyline Corp. 3.90 -0.03 (-0.76%). Sun Communities, Inc. 38.93 -0.85 (-2.14%). Third Avenue Value Fund (Dec. 11) 49.77 -0.01 (-0.02%). Universal Forest Products, Inc. 36.43 +0.51 (+1.42%). UMH 10.03 -0.12 (-1.18%).

(Graphic credit: CNNMoney and RealTick)

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