Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
Stocks edge higher, helped by homebuilder stocks and jewelry chain Tiffany
NEW YORK, N.Y. – The stock market is closing slightly higher after good news from the housing industry.
The Dow Jones industrial average edged up less than a point to close at 16,072 Tuesday. The Standard & Poor’s 500 index also rose less than a point to 1,802. The Nasdaq composite added 23 points to 4,017.
The Commerce Department reported U.S. developers planned to build apartments at the fastest pace in five years in October, a signal they believe rentals will heat up in coming months. The stock prices of homebuilders Pulte, Toll Brothers, and Lennar all rose.
Tiffany & Co. rose $7.03, or nine per cent, to $88.02, after reporting strong quarterly earnings. Earnings at the luxury retailer climbed 50 per cent in the third quarter, thanks to robust sales in Asia.
News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
