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Measure of US home prices rises most in 6 years
WASHINGTON (AP) â¿¿ A measure of U.S. home prices jumped 5 percent in September compared with a year ago, the largest year-over-year increase since July 2006. The gain reported by CoreLogic offered more evidence of a sustainable housing recovery.
The real estate data provider also said Tuesday that prices declined 0.3 percent in September from August, the first drop after six straight increases. The monthly figures are not seasonally adjusted. CoreLogic says the monthly decline reflects the end of the summer home-buying season and not a softening in the housing recovery.
Steady price increases should give the housing market more momentum when home sales pick up in the spring. Rising prices encourage more homeowners to sell their homes and entice would-be buyers to purchase homes before prices rise further.
Stocks rise as investors wait for a winner
NEW YORK (AP) â¿¿ Major stock-market indexes climbed Tuesday as investors waited for the finish of a closely fought U.S. presidential election.
The Dow Jones industrial average rose 133.24 points to close at 13,245.68.
Companies that investors believe would benefit under a potential Romney administration surged ahead. They included United Technologies and Boeing, which do substantial business with the Defense Department.
Four financial companies â¿¿ Travelers, American Express, JPMorgan Chase and Bank of America â¿¿ ranked among the 10 biggest gainers in the 30-stock Dow average.
Strike hits Greece in bid to derail austerity plan
ATHENS, Greece (AP) â¿¿ Greek trade unions launched a general strike and nationwide protests on Tuesday against a new package of austerity measures, to be voted on this week, which would condemn Greece to more years of hardship in exchange for rescue loans.
Flights to and from the country stopped for three hours at the start of a 48-hour strike that closed schools, halted train and ferry services, and left Athens without public transport or taxis while state hospitals ran with emergency staff.