The stock market headed downward this morning after the U.S. Commerce Department reported that new construction on housing units dropped to a seasonally adjusted annual rate of 529,000, the lowest level since April. The 10.6 percent drop was the biggest percentage decline for starts since January. The BizTimes Stock Index fell 0.41 points Tuesday to close at 122.28. Local decliners again outnumbered advancers in trading this morning. The biggest local decliners were Manpower Inc. (down 81 cents to $50.39) and Johnson Outdoors Inc. (down 73 cents to $9.16). The biggest local gainers were Modine Manufacturing Co. (up 49 cents to $11.74) and MGIC Investment Corp. (up 27 cents to $4.52).
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