The Obama administration estimates American households will each save $750 this year because of lower gasoline prices, but they are not spending that money anywhere else, as consumer spending was flat in February, and retail sales actually declined. Since wages are basically flat, Americans may be reluctant to spend.
The Yahoo! Finance Manufactured Housing Composite Value outpaced the Dow in today’s trading, advancing +3.41 percent, to end the day at 660.7. Stocks we cover related to the manufactured housing industry closed mixed or even. Cavco gained the most of tracked stocks, +2.21 percent, while UMH fell the most, slipping -0.60 percent.
On this news, the Dow Jones Industrial Average nudged up +0.37 percent in today’s trading, +65.07 points to close at 17,763.24. Meanwhile, the Nasdaq moved up +0.14 percent, +6.71 points to close at 4,886.94, while the S&P 500 similarly advanced, +0.35 percent, +7.27 points to finish at 2,066.96.
As of 4 PM ET, CNNMoney Finance tells MHProNews:
Affiliated Managers Group, Inc. (NYSE: AMG) $214.50 0.00 (0.00 %)
Berkshire Hathaway Inc. (NYSE:BRK.A) – parent company to Clayton Homes, 21st, Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers – $216,500.00 +200.00 (+0.09%).
Carlyle Group (NASDAQ:CG) $27.80 -0.01 (-0.04%).
Cavco Industries, Inc. (NASDAQ:CVCO) $74.40 +1.61 (+2.21%).
Deer Valley Corporation (OTCMKTS:DVLY) $0.65 0.00% (0.00%).
Drew Industries, Inc. (NYSE:DW) $61.37 +0.59 (+0.97%)
Equity LifeStyle Properties, Inc. (NYSE:ELS) $55.21 +0.58 (+1.06%).
Killam Properties Inc. (TSE:KMP) $11.02 -0.03 (-0.27%).
Liberty Homes, Inc. (OTCMKTS:LIBHA) $0.05 0.00 (0.00%).
Louisiana-Pacific Corporation (NYSE:LPX) $16.29 +0.12 (+0.74%).
Nobility Homes Inc. (OTCMKTS:NOBH) $12.00 0.00 (0.00%).
Patrick Industries, Inc. (NASDAQ:PATK) $63.66 +0.72 (+1.16%).
Skyline Corporation (NYSE:SKY) $3.62 +0.061 (+1.71%).
Sun Communities Inc. (NYSE:SUI) $66.38 +0.34 (+0.52%).
Third Avenue Value Instl (OTCMKTS:TAVFX) (Oct. 30) $56.74 -0.27 (-0.47%).
UMH Properties, Inc. (NYSE:UMH) 10.30 -0.05 (-0.60%)
Universal Forest Products, Inc. (NYSE:UFPI) $54.38 -0.12 (-0.22%). ##
(Graphic credit: CNNMoney)
