Bargain hunters drove the Nasdaq composite higher Friday because investor confidence apparently was bolstered by Fed Chairman Alan Greenspan’s remarks on Thursday.
Greenspan told the Senate Budget Committee that he believes economic growth has ground to a halt. This led many Wall Street analysts to assume the Fed will lower interest rates next week.
The Nasdaq fell sharply on Thursday as investors showed concern about the sluggish economy slowing the demand for technology company products. But on Friday, the Nasdaq gained 27 points, or 1%.
Meanwhile, the Dow Jones Industrial Average declined 70 points, or 0.7%, on Friday.
Among the major RV companies, Monaco was the only one to record a gain Friday. Monaco shares gained 3/4, or 4%, to close at 20 5/8, after the company reported that it has gained market share despite the soft wholesale and retail markets for RVs that existed late last year.
Here is a roundup of the other RV company stock activity on Friday:
Fleetwood declined 3/8 to close at 13 15/16
Winnebago declined 5/8 to close at 17
Thor declined 1/2 to close at 23
Coachmen declined 1/4 to close at 11 1/8
National RV declined 1/4 to close at 12 3/4
Skyline declined 3/16 to close at 21 11/16
SMC declined 1/16 to close at 3 1/4
Rexhall gained 1/4 to close at 6 3/8
Kit was unchanged at 3 3/8
Coast Distribution was unchanged at 1 1/8
Featherlite gained 3/16 to close at 2 5/16
Spartan Motors gained 1/16 to close at 2 7/8
Starcraft was unchanged at 1 31/32