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Home > Analysis and Commentary, Business, Canada, Company News, Finance, Manufactured Home Communities, Manufactured Housing Industry, News Item, People, Politics, regulation, research, Stocks, Trends > 700 Point Swing Today, Tech Drags Dow as Facebook Storm Grows, Plus MH Market Updates

700 Point Swing Today, Tech Drags Dow as Facebook Storm Grows, Plus MH Market Updates

March 27th, 2018

CNNmoney3.27.2018ManufacturedHomeStocksMarketsReportsMHProNewsWhen big names such as Elon Musk, Jim Carrey, and Cher delete their Facebook accounts, you know that something’s going sideways for that tech giant.  While the Dow rose in the morning, more troubling news resulted in an ongoing drag by the end of the day.  The growing storm of Facebook – widely used in marketing and as personal social media by the MH Industry – is once more our focus tonight, as several industry related stocks slid today too. 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline reports are found further below, just beyond the Manufactured Housing Composite Value (MHCV) for today.

The Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.

Part of this unique feature provides headlines – from both sides of the left-right media divide – that saves readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

MH “Industry News, Tips and Views, Pros Can Use.” ©

ICYMI – for those not familiar with the “Full Measure,” ‘left-right’ media chart, please click here

Selected headlines and bullets from CNN Money:

  • Why GE could be a smart investment for Warren Buffett
  • Bitcoin plunges as social media cracks down on cryptocurrency ads
  • How to handle market volatility close to retirement
  • Apples and cherries are at stake in China trade fight
  • The US needs to borrow almost $300 billion this week
  • Facebook sued for allegedly allowing housing discrimination
  • The average Wall Street bonus is now $184,200
  • Apple announces budget iPad for students
  • Steve Jobs warned about privacy issues in 2010. Mark Zuckerberg was there
  • Seth Rich’s brother sues right-wing activists, Washington Times over conspiracy theories
  • Facebook whistleblower says more companies had access to user data
  • Thinking of freelancing? Here’s what the new tax law does for you
  • Fewer immigrants = a weaker UK economy
  • How to find out what Facebook knows about you
  • US automakers won’t get much help from new South Korea deal
  • Waymo and Jaguar unveil a self-driving SUV
  • What Wall Street’s latest moves tell us
  • Foxconn makes another big move in the US with Belkin deal
  • Heineken pulls ‘Sometimes lighter is better’ ad after racism claims
  • Arizona suspends Uber’s self-driving car tests after fatal crash
  • ‘Deeply disappointing’: Sponsors slam Australian cricket team over cheating
  • NFL cheerleader files complaint over ‘discriminatory’ measures governing conduct

Selected headlines and bullets from Fox Business:

  • Dow plunges 345 points as tech shares drag
  • Will Buffett rescue GE?
  • FTC investigating Facebook over privacy practices; shares slide
  • Saudi Aramco IPO is happening, U.S. listing unclear amid 9/11 cloud
  • China, US trade war: This is how it could play out
  • US-South Korea trade deal proof that trade war can be avoided: Wilbur Ross
  • Work email ban after hours in New York City may become law
  • Beware, the IRS is looking for these red flags this tax season
  • Aetna to pass drug discounts directly to consumers
  • Truck industry leader blames big business for driver shortage
  • Google defeats lawsuit claiming YouTube censors conservatives
  • Apple’s new iPad: 5 things to know
  • Citizenship question in 2020 census intended to protect minorities: Wilbur Ross
  • Down payment dilemma: Four tips for single homebuyers

 

Today’s markets and stocks, at the closing bell…

S&P 500 2,612.62 -45.93(-1.73%)

Dow 30 23,857.71 -344.89(-1.43%)

Nasdaq 7,008.81 -211.74(-2.93%)

Russell 2000 1,513.66 -30.15(-1.95%)

Crude Oil 64.85 -1.03(-1.56%)

Gold 1,343.80 -11.20(-0.83%)

Silver 16.50 -0.18(-1.07%)

EUR/USD 1.2403 -0.0045(-0.36%)

10-Yr Bond 2.79 -0.06(-2.00%)

9MarketIndicatorsYahooFinance3.27.2018DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

Manufactured Housing Composite Value (MHCV)

YahooFinanceManufacturedHousingCompValue3.27.2018DailyBusinessNewsStocksMarketsDataReportsMHProNews

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see the Bloomberg ticker summary graphic, posted below.

Today’s MH Market Spotlight Report –

The Daily Business News has led the charge in manufactured housing trade publishing by periodically spotlighting for over a year issues related to problematic practices by tech giants such as Facebook, Alphabet (Google’s parent company), and Twitter, among others.

Our reports have also noted parallel concerns between the ‘monopolistic’ concerns raised about those companies, and similar concerns that have been raised in recent years about Berkshire Hathaway owned Clayton Homes.

Clayton, as regular readers know, has been under scrutiny by Democratic lawmakers, but also by Washington regulators, per previously published reports.

But the focus tonight is Facebook itself, which along with Twitter, sent the Dow down 300 plus points at the close, in spite of a several hundred point rise in the markets earlier in the day.

The Dow Jones Industrial Average dropped 344.89 points, or 1.43%, to 23,857.71. The S&P 500 retreated 45.93 points, or 1.73%, to 2,612.62. The tech-heavy Nasdaq Composite shed 211.74 points, or 2.93%, to 7,008.81,” per right-of-center, Fox Business.

The sell-off came a day after the Dow recorded its best single-day point gain since 2008 on fading fears of a U.S.-China trade war. The blue-chip index added 669 points on Monday, its third-biggest point gain ever, on news that U.S. and Chinese officials are in talks over trade policies.

Twitter shares slipped 12% after short-seller Citron Research revealed it bet against the stock due to increased regulatory risks. Twitter pushed back against Citron Research, saying it doesn’t sell any user data. Merrill Lynch analysts lowered their price target for Facebook’s stock twice in five days.

Tim Anderson, managing director at brokerage TJM Investments, noted that investors have “lingering concerns about social media companies and the issue of [halting tests] of self-driving cars,” he said on FOX Business’ “After the Bell.”

WilliamKovacicGWUnivLawProfessorFormerFTCChairmanFoxbusinessDailyBusinessNewsMHPronews

The Facebook story is not happening in a vacuum, as the report linked below reflects.

Poll Reveals Public Concerns Spanning the American Partisan Divide

Bloomberg Ticker Closing Summary for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

3.27.2018DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews-2

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI and LP all supply manufactured housing.

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

Your link to a recent round of industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say –Thank You for your vote of confidence.”

We Provide, You Decide.© ## (News, analysis and commentary.)

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.


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