HCN Stock Index rises 2 percent Monday
The HCN Stock Index grew to 753.74 on Monday, a 2 percent gain. Of the 20 stocks on the index, 17 showed gains. Beacon Roofing Supply and Andersons led the gainers with 6.0 percent and 5. 7 percent growth, respectively. Monday decliners were Sears Holdings, BlueLinx and Huttig.
Meanwhile, the Dow Jones Industrial Average gained 413 points to 9,265.43, up 4.67 percent. The S&P 500 increased 4.77 percent on Monday, a day of positive news in the credit markets and increased prospects for an additional federal stimulus package.
The HCN Stock Index is a basket of 20 home channel stocks weighted by market cap. Since Sept. 15, the day of the Lehman Brothers bankruptcy announcement, the index has declined 24.6 percent.