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As it has done all year, the Yonder 40 stock index bested the other major stock indexes over the last week. It was a tough week for the markets, as the struggled to absorb the Massachusetts election upset, the promise by President Obama of new banking regulations and the trouble Fed chair Ben Bernanke is having finding the votes to win reappointment to a new term. The Dow Industrials dropped 4.1% last week. The Standard and Poor 500 declined 3.9% last week.
The Yonder 40 — 40 stocks picked to reflect the rural economy — dropped only 2.6%. To see how the full Daily Yonder 40 did last year, go here.
Bassett Furniture Industries gained nearly 10% last week, after languishing during the housing recession. That was the only large gainer in the down week for stocks. Coal stocks gave up some of what they gained last year. Rural retailers — Wal-Mart, Stage Stores, Cabela’s, Cato, Family Dollar — all showed minor losses or slight gains.