Investors apparently factored the much-anticipted interest rate decrease into stock prices, so the market showed little reaction Wednesday to the Federal Reserve’s decision to lower rates 1/2%.
The Dow Jones Industrial Average, which recorded a sharp increase Tuesday, gained only 6 points, or 0.1%, on Wednesday.
The Nasdaq composite, which posted a big gain on Monday, declined 66 points, or 2.3%, on Wednesday.
The Fed’s action Wednesday lowers the benchmark prime interest rate to 8.5%, the lowest level it has been in a year.
Meanwhile, RV company stocks were mixed Wednesday, although investors in Thor had a good day as the stock climbed $1.40, or 6%, to close at $25.
Here is a roundup of the other RV company stock activity on Wednesday:
Fleetwood declined 25 cents to close at $14.01
Winnebago gained 30 cents to close at $18.31
Coachmen gained 2 cents to close at $11.40
National RV declined 6 cents to close at $13.56
Skyline gained 4 cents to close at $22.31
SMC declined 1/8 to close at 3 3/4
Holiday RV Superstores declined 1/4 to close at 3 3/4
Rexhall was unchanged at 6 1/4
Kit gained 1 cent at $3.60
Coast Distribution was unchanged at 96 cents
Featherlite gained 3/16 to close at 2 11/16
Spartan Motors declined 1/8 to close at 2 1/2
Starcraft gained 1/16 to close at 2 1/8