As usual, that will be found beyond our left-right headline bullets, plus other graphic snapshots of the market today, as well as our standard fare.
Every Business Nightly – Headline Insights-at-a-Glance.
Every weekday night that the stock markets are open, we provide headlines from left-of-center CNN followed by right-of-center Fox Business. It is sometimes surprising how much 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.
Perhaps more important, you will get insights about the industry from experts that care, but also dare to challenge the routine narrative that arguably keeps manufactured housing underperforming during an affordable housing crisis.
Headlines from left-of-center CNN Business
• Meat plants are closing
• Smithfield Foods Inc. bacon sits on display for sale at a supermarket in Princeton, Illinois, U.S., on Monday, Dec. 3, 2012. Smithfield Foods Inc., the world’s biggest pork processor, is scheduled to report quarterly earnings on Dec. 6.
• But you don’t have to panic shop just yet
• Soaring demand forces Amazon to put new food delivery customers on a waitlist
• Amazon is hiring 75,000 more workers to keep up with demand during pandemic
• Goldman Sachs: The worst might be over for US stocks
• SoftBank warns of huge loss as value of tech startups collapses
• These companies are begging you not to use their products during the crisis
• Opinion: The government shouldn’t try to save every business
• Ford will start making respirator masks for healthcare workers
• Walmart CEO says we’re in the ‘hair color’ phase of panic buying
• ABC News anchor George Stephanopoulos tests positive for Covid-19
• Opinion: 4 things business leaders need to address immediately
• KHANTY-MANSI AUTONOMOUS AREA – YUGRA, RUSSIA APRIL 5, 2020: A Surgutneftegas worker near pumpjacks in Surgut Region of the Khanty-Mansi Autonomous Area – Yugra, in the West Siberian petroleum basin.
• Cheap oil isn’t going away, even after record production cuts
• Neat line of suburban houses in Fairfax, Virginia.
• Why you should think twice about delaying your mortgage payments
• NEW YORK, NY – APRIL 09: Flags fly at full staff outside the NYSE on April 09, 2020 in New York City. Gov. Andrew Cuomo directed flags to be flown at half-staff for the victims of the coronavirus. COVID-19 has spread to most countries around the world, claiming almost 90,000 lives with infections nearing 1.5 million people.
• US stocks finished mixed as investors brace for earnings season
• STAYING OFF THE ROAD
• DETROIT, MI – APRIL 08: A single car drives by on April 8, 2020 in Detroit, Michigan. In an effort to slow the spread of the coronavirus (COVID-19), Detroit Department of Transportation buses will begin distributing surgical masks to riders. Nearly 19,000 coronavirus cases have been confirmed in the state.
• Car insurers are giving billions back to drivers. It still may not be enough
• Allstate returns millions in premiums to customers
• Geico gives customers a break on premiums
• GM, Ford and Chrysler are in survival mode
• Car sales are plunging in the US because of coronavirus
• FOOD SUPPLY WORRIES
• Smithfield Foods Inc. brand sliced deli ham sits on display at a supermarket in Princeton, Illinois, U.S., on Tuesday, March 5, 2013. Smithfield Foods is expected to release earnings data on March 7.
• Major pork processing facility closes with a warning about meat supply
• Meat plants are shutting down as workers get sick
• Why you can’t find what you want in the store
• What happens to our food supply if farmers can’t farm?
• Lines at food banks grow as some farmers destroy food
Headlines from right-of-center Fox Business
• SUPPLY MEATS DEMAND
• Pork plant’s coronavirus shutdown sparks fears of a meat shortage
• The American Association of Meat Processors expressed concern over the plant’s closure.
• Trump says decision ‘shortly’ on reopening economy
• DEVELOPING
• Stocks sink despite historic oil deal
• $60M in relief deposited by Wed: Treasury
• First statewide virus treatment trial rolls out
• Market has probably hit floor: Goldman
• Amazon’s massive new hiring push
• Some Walmart, Target, Costco stores limit access to inventory
• Fauci: ‘Rolling re-entry’ possible in May
• New coronavirus hot spots sprout
• Full list of businesses open
• Opinion: Don’t use virus as excuse to bail out fiscally irresponsible municipalities
• Coronavirus spotlights risk at JPMorgan, Wells Fargo
• Amazon sellers to resume shipping nonessential items after pandemic ban
• Cuomo heaps praise on Trump as ‘amazingly accessible’ during crisis
• Carnival Cruise Lines extends coronavirus-related cancellations
• Cuomo reveals how he’ll reopen New York City
• FDA approves mask contamination process as workers face shortages
• Coronavirus forces Lands’ End to furlough 70% of corporate employees
• Sports photographer Causi dead from coronavirus
• Alcohol consumption not slowing amid quarantines: Anheuser-Busch CEO
• McDonald’s hit with new class-action lawsuit over alleged toxic work culture
• ‘Trolls World Tour’ scores record digital debut as coronavirus closes theaters
• Major US lender changes mortgage standards as coronavirus takes toll
• Coronavirus fuels pot industry’s push for online sales, delivery
• Ford making masks to protect workers from coronavirus
• Blood purification device for coronavirus patients granted emergency FDA approval: CytoSorbents CEO
• Energy secretary: Oil industry could bounce back ‘very quickly’ after deal
• Small business loan applications jump with more than $215B approved
• Meat supply could take hit as plant workers contract virus, walk off jobs
• Varney: Politicizing coronavirus will make Biden’s election ‘more difficult’
• George Stephanopoulos tests positive for coronavirus, longtime ‘GMA’ producer dies
• How many employees say working from home is taking toll on mental health
• US sailor on coronavirus-stricken Navy ship dies after contracting disease
• Ebay’s next CEO poached from Walmart
• Fed president: How long ‘hard road’ to economic recovery could last
• Ford coronavirus losses expected to reach $600M in first quarter
• Mobile-only Quibi sees more than 300,000 downloads on launch day
• Varney: America needs hope amid coronavirus
• Governor proposes major change to minimum wage plan as fears fester
• Fed’s vice chair says central bank has tools to avoid deflation
• Fed’s Bostic: Central bank ‘ready to act’ on coronavirus help if more is needed
• Several left as Easter storms batter slew of southern states
• Coronavirus pain deepens for Disney World; 43k more workers furloughed
• GM to start making coronavirus ventilators under $490M federal contract
• Coronavirus doesn’t care as students try to prepare for college
• Private-equity firms scramble to shore up coronavirus-hit holdings
• Major hotel chains donating over 1 million rooms for health workers
• SoftBank Vision Fund expects $16.5B full-year loss
• Coronavirus cases may be ‘near a plateau’: Johns Hopkins doctor
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus – Where Business, Politics and Investing Can Meet
Ashley Burnside from CLASP – the Center for Law and Social Policy – told MHProNews that the IRS have established a portal for those who for whatever reason did not file taxes in 2018 or their 2019 returns.
Per the IRS’ newly established portal page is the following.
“The IRS has extended the tax filing deadline for 2019 to July 15, 2020, but you should file your taxes sooner to get your payment as soon as possible. For those who have not filed taxes in either 2018 or 2019 and don’t have taxable income, the IRS has created a form for requesting the stimulus payment. Social Security recipients do not need to fill this out to get the $1200 payment, but should use it to identify any children eligible for the $500 payment. Individuals eligible for the Earned Income Tax Credit (EITC) should use the regular Free File program to claim both the EITC and the stimulus payment.”
To make that simple, if you or someone you know hasn’t filed in 2018 or 2019 and you want to collect that stimulus payment electronically instead of by mail, click here or below and follow the steps.
Free File program
Next, Yahoo Finance tells MHProNews today the following.
Wall Street’s top stock market experts strike bullish tone
Swift and sweeping fiscal and monetary policy responses from U.S. officials will ultimately support stock prices from here, blunting some of the damage as the coronavirus pandemic and social distancing measures ravage the economy and grind business activity to a temporary halt, analysts at Goldman Sachs (GS), Morgan Stanley (MS), BlackRock (BLK), and JPMorgan (JPM) said in new notes Monday.
In other words, the bottom may already have been put in for stocks.
“The numerous and increasingly powerful policy actions have spurred equity investors to adopt a risk-on view,” said Goldman Sachs analyst David Kostin. “If the U.S. does not experience a second surge in infections after the economy reopens, the ‘do whatever it takes’ stance of policymakers means the equity market is unlikely to make new lows.”
Late last week, the Fed announced a new plan to inject some $2.3 trillion in funding for households and local governments, going above and beyond measures unleashed even during the 2008-2009 financial crisis and adding further support after cutting interest rates to a zero lower bound and turbo-charging its asset purchases last month. Subsequent remarks from Federal Open Market Committee Officials reaffirmed the central bank was still willing to do more to support the economy as the pandemic continues.
Those monetary policy actions were on top of the programs Congress authorized just weeks prior in its own more than $2 trillion economic relief package.
In total, the U.S. fiscal package “is equivalent to about 10% of the U.S. gross domestic product (GDP), the largest among key DMs [developed markets], and we believe there may be more to come,” BlackRock analysts led including Mike Pyle said Monday. “Overall, we see more policy room in the U.S. than in other DMs in coming months to help shore up the economy, but recognize that successful and timely execution of fiscal measures is a key risk everywhere, including in the U.S.”
The outsized policy response, combined with mounting evidence that social distancing measures are in fact “flattening the curve” for new virus infections, has helped entice investors back to risk assets, Kostin said. With these factors in mind, the S&P 500 is “no longer likely” to plunge to a previously seen “near-term downside risk of 2,000,” he added.
Goldman Sachs maintained a 3,000 year-end price target for the S&P 500, implying a 7.5% rise from Thursday’s close.
JPMorgan analyst Marko Kolanovic went a step further, predicting the S&P 500 would reach a new all-time high earlier next year given the recent boost from policymakers.
“Unhindered by moral hazard, the response of fiscal and monetary authorities is and will continue to be unprecedented, with the goal of essentially making everyone ‘whole,’” Kolanovic said. “We believe the significance of this development is underestimated by markets, and this reinforces our view of a full asset price recovery, and equity markets reaching all-time highs next year, likely by H1.”
In the related reports, additional COVID19 and more manufactured housing market related topics can be found.
Related Reports:
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.
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- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
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Spring 2020…
Berkshire Hathaway is the parent company to Clayton Homes, 21st 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. For insights from third-parties and clients about our publisher, click here.
Enjoy these ‘blast from the past’ comments.
MHProNews. MHProNews – previously a.k.a. MHMSM.com – has celebrated our tenth anniversary and is in year 11 of publishing.
Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
· For expert manufactured housing business development or other professional services, click here.
· To sign up in seconds for our industry leading emailed headline news updates, click here.
Disclosure. MHProNews holds no positions in the stocks in this report.
That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHLivingNews.com.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.
Connect on LinkedIn: http://www.linkedin.com/in/latonykovach
Sexual Harassment, Workplace Poll, Congress, President Sound Off – MH Industry Impact?
