National News

Nov 26, 2013 5:30 PM by Associated Press

Stocks rise, helped by homebuilders and Tiffany

NEW YORK (AP) - 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 percent, to $88.02, after reporting strong quarterly earnings. Earnings at the luxury retailer climbed 50 percent in the third quarter, thanks to robust sales in Asia.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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