MHCV values went up 4.36% today. Leaders are: CVCO 4.34%, DW 3.74%, UFPI 3.57%, LPX 2.42%, PATK 2.32%, BRK:A 1.31%.
USA Today tells MHProNews that stocks staged a strong afternoon rally and closed higher Thursday as the major indexes broke a two-day losing streak. The Dow Jones industrial average jumped 226 points, or 1.3%, to 17,417, with Boeing (BA) and McDonald’s (MCD) leading the gains. The Standard & Poor’s 500 index gained 19 points, or 0.9%, to 2021 and the Nasdaq composite index added 45 points, or 1%, to 4683. All ten sectors of the S&P 500 were higher with utilities leading the way.
CNN Money tells MHProNews there are early signs that U.S. drilling activity is starting to cool down. The number of U.S. oil rigs actively pumping oil has decreased for seven straight weeks, according to Baker Hughes. The rig count fell to 1,317 as of January 23, down 18% from the record highs of early October back when oil was still at $86 a barrel.
“Whenever prices crash — and this is a once-in-a-generation crash — you’ll see the rig counts drop,” said Tom Kloza, chief oil analyst at the Oil Price Information Service.
To be clear, U.S. oil production is still expected to rise this year, just at a slower pace than previously imagined. That’s because it takes a while for the drop in rig counts to eat into production.
“Wells that were already drilled but not yet completed will represent sources of new supply that will hit the market,” said Tamar Essner, an energy analyst at Nasdaq Advisory Services.
Listed below are the closing numbers for today’s stock trading.
Dow Jones 17,416.85 +225.48 (1.31%).
S&P 500 2,021.25 +19.09 (0.95%).
Nasdaq 4,683.41 +45.41 (0.98%).
The Yahoo! Finance Manufactured Housing Composite Value (MHCV): Composite Value: 567.7 Today’s Change: +4.36%
As of approximately 4 PM ET: CNNMoney and Google Finance tell MHProNews:
Affiliated Managers Group, Inc. (NYSE: AMG) 205.11 -0.50 (-0.24%).
Berkshire Hathaway Inc. (NYSE:BRK.A) – parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage, 21st Mortgage Corp., and other factory built housing industry suppliers. 219,998.00 +2,838.00 (1.31%).
Carlyle Group (NASDAQ:CG) 26.22 -0.21 (-0.79%).
Cavco Industries, Inc. (NASDAQ:CVCO) 76.75 +3.19 (4.34%).
Deer Valley Corporation (OTCMKTS:DVLY) 0.600 0.000 (0.00% Dec. 31).
Drew Industries, Inc. (NYSE:DW) 51.53 +1.86 (3.74%).
Equity LifeStyle Properties, Inc. (NYSE:ELS) 56.05 +0.04 (0.07%).
Killam Properties Inc. (TSE:KMP) 11.01 +0.04 (0.36%).
Liberty Homes, Inc. (OTCMKTS:LIBHA) 0.100 0.000 (0.00% Jan. 8).
Louisiana-Pacific Corporation (NYSE:LPX) 16.52 +0.39 (2.42%).
Nobility Homes Inc. (OTCMKTS:NOBH) 9.40 0.00 (0.00% Jan. 29).
Patrick Industries, Inc. (NASDAQ:PATK) 43.23 +0.98 (2.32%).
Skyline Corporation (NYSEMKT:SKY) 3.83 -0.11 (-2.79%).
Sun Communities Inc. (NYSE:SUI) 69.62 +0.57 (0.83%).
Third Avenue Value Fund Institutional Class (OTCMKTS:TAVFX)55.18 -0.84 (-1.50% Jan. 28).
UMH Properties, Inc. (NYSE:UMH) 9.60 +0.01 (0.10%).
Universal Forest Products, Inc. (NASDAQ:UFPI) 51.10 +1.76 (3.57%).
(Graphic credit: CNNMoney)
Article Submitted by Sandra Lane to – Daily Business News- MHProNews.
