Stocks Close Up on Positive Housing Report
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Hemera/Thinkstock(NEW YORK) — A report on home construction Wednesday beat expectations and helped to move stocks up off the session’s lows.
The Dow closed up five points Wedensday, while the Nasdaq and S&P added just three points and six points, respectively.
Chances are, there’s at least one home or maybe an apartment building under construction on your street. The National Association of Homebuilders says contractors broke ground on more homes in September than in any other month since July of 2008, before the housing market collapsed.
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