Markets generally rose today on overall positive economic news, coupled with positive comments by the Federal Reserve Chairman Jerome Powell. The door was left open for more rate cuts, which speculation has been will be .25 points later this month, to perhaps ½ percent rate cut. We’ll look at the Fed chair’s comments in Zurich as our feature for this evening.

 

Every evening our headlined provide snapshots from two major media outlets on each side of the left-right news spectrum that reflect topics that influence or move investor sentiment. In moments on this business evening report, you can get insights-at-a-glance.

This report also sets the broader context for manufactured housing markets, in keeping with our mantra, “News through the lens of manufactured homes and factory-built housing” ©.

We begin with left-of-center CNN followed by right-of-center Fox Business. We share closing tickers and other related data courtesy of Yahoo Finance, and more. 5 to 10 minutes reading this MHProNews market report every business night could save you 30 minutes to an hour of similar reading or fact-gathering elsewhere.

 

 

Headlines from left-of-center CNN Business.

·        Swiffer. Blackberry. Dasani.

·        Meet the man who named your favorite products

·        Volkswagen hopes to build 22 million electric cars in the next decade

·        The economy added 130,000 jobs in August, while the unemployment rate stayed steady at 3.7%

·        Fed’s Powell signals a possible rate cut, even as he dismisses recession fears

·        Facebook Dating launches in the US

·        The world’s largest Starbucks will open in Chicago

·        How to find yield in a low-rate world

·        China takes more action to boost its slowing economy

·        The CEO of the world’s biggest cannabis company is trying to calm concerns

·        A surprising number of companies don’t have a CEO succession plan. Here’s why

·        The box office had a sluggish summer. Can a killer clown come to the rescue?

·        They bucked Trump’s relaxed emissions policy. Now they’re under an antitrust investigation

·        America is running out of White Claw hard seltzer

·        Facebook hit with antitrust investigation by eight states and DC

·        Uber and Lyft both hit all-time lows and continue to struggle since their IPOs

·        Google and FTC reach $170 million settlement over alleged YouTube violations of kids’ privacy

·        14 women sue Lyft for allegedly mishandling sexual assault and rape reports

·        National security officials meet with big tech companies in preparation for 2020 election

·        GUNS AND BUSINESS Opinion: Walmart CEO’s decision on guns is the corporate courage we need

·        In major shift, Walgreens and CVS ask customers to leave their guns outside

·        How Walmart became an unlikely champion of gun safety

·        Walmart CEO implores Congress to ‘do their part’ to stop gun violence

·        Opinion: Enough is enough. I’m calling on health care CEOs to take a stand on gun control

 

Headlines from left-of-center CNN Business.

·        HOW MUCH TAX REVENUE FLORIDA COULD LOSE WITH PROPOSED ASSAULT WEAPONS BAN

·        US stocks close mixed after jobs report miss

·        Fed’s Powell says he doesn’t foresee a US recession

·        Sluggish August job growth likely solidifies Fed’s next rate cut

·        Fed tells insurers to meet new capital requirements

·        HURRICANE DORIAN: THE LATEST

·        South Carolina Gov. Henry McMaster has lifted evacuation orders for several counties, allowing residents who left the state’s coastal areas to return home starting tonight.

·        Hackers stole millions of dollars from this state’s pension fund

·        Buffalo Wild Wings to roll out sports betting at some restaurants

·        Starbucks will open world’s largest location in this US city

·        Unmarried women see lack of ‘economically attractive’ men: study

·        Majority of young Americans admit they’d buy this before paying rent

·        Late Microsoft co-founder Paul Allen’s mega-yacht is for sale. Here’s how much it costs

·        American Airlines provides update on frightening sabotage incident

·        4 important tips to avoid falling for Hurricane Dorian relief scams

·        How Debra Messing’s Trump tweets will impact NBC’s advertising sales

·        Apple, flush with cash, jumps on free money bandwagon: Varney

·        Russian and Italian stole GE Aviation trade secrets, feds charge

·        Fed’s Powell says politics plays ‘no role’ in central bank’s decisions

·        Apple will unveil new iPhone on Tuesday

·        Loup Ventures Managing Partner Gene Munster examines the features on the new iPhone being released on Tuesday and Apple’s stock value.

·        China has called space ‘America’s Achilles heel’: NASA administrator

·        NASA Administrator Jim Bridenstine evaluates the evolving dangers present in space and the soon-to-be-established Space Force.

·        Netflix cancels binge watching for upcoming show

 

10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…

 

Tonight’s Business/Market/Political Impact Spotlight –

·        “The Fed has through the course of the year seen fit to lower the expected path of interest rates,” Powell says.

·        “That has supported the economy.”

·        Powell says trade uncertainty is weighing on business investment and confidence.

·        However, he expects the problems to be contained and not a major impediment to growth.

The news is good for the Trump Administration on several fronts, because the Federal Reserve Chairman Jerome Powell sees continued economic expansion in the U.S.

 

 

In Zurich for an economic discussion, America’s central bank leader gave overall positive reviews to where the U.S. stands now, even while much of the rest of the world weakens.

“The Fed has through the course of the year seen fit to lower the expected path of interest rates,” he said. “That has supported the economy. That is one of the reasons why the outlook is still a favorable one.”

“We’re not forecasting or expecting a recession,” Powell said. “The most likely outlook is still moderate growth, a strong labor market and inflation continuing to move back up.”

“Our main expectation is not at all that there will be a recession,” Powell stated.

 

 

The policymaking Federal Open Market Committee (FOMC) cut the Fed’s benchmark overnight lending rate by 25 basis points in July, the first such move since the Great Recession. Markets widely expect another cut at the Sept. 17-18 meeting.

Interest rates on conventional housing has been falling.

Powell and the Fed have publicly brushed off strong criticism from President Donald Trump, who has said rates are still too high and causing the U.S. to be at a competitive disadvantage globally.

Without saying the president’s name or position, Powell said that the Fed “is committed to nonpolitical decisions-making based on the best analysis we can muster.”

“It’s a great place that has a very strong ethic and very high morale because of that commitment to nonpolitical public service,” he said.

He acknowledged, though, that there is a wide range of views on the FOMC regarding the proper policy path ahead. St. Louis Fed President James Bullard, for instance, recently voiced support for a 50 basis point cut, while others, like Eric Rosengren of Boston and Esther George of Kansas City, have supported staying put.

“Sometimes it’s easy to get unanimity on things when the path is clear. There will always be questions about how much to do and how fast to move. Sometimes things are relatively clear, other times it’s murky out there,” Powell said. “I think it’s one of those times.”

 

 

Related Reports:

Cramer – No Recession, Data Shows U.S. Economic Strength Upper Hand for POTUS Trump with China, plus Manufactured Home Stock Updates

U.S. Labor, China-American Trade, Warren Buffett, and Housing – High Cost of Short-Range Thinking?

Does President Trump Get It About American Labor and Business?

Manufactured Housing Industry Investments Connected Closing Equities Tickers

Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.

• 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).

Updated for Summer 2019…

Berkshire Hathaway is the parent company to Clayton Homes, 21^st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.

· AMG, CG, and TAVFX have investments in manufactured housing related businesses.

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Submitted by Soheyla Kovach, co-managing member of LifeStyle Factory Homes, LLC and co-founder for MHProNews.com, and MHLivingNews.com.

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