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U.S. Stocks Gain Steam as Dow 20,000 Nears; Tesla and Panasonic to Build Gigafactory

U.S. stocks moved slightly higher Tuesday in a quiet, shortened trading week.
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U.S. stocks moved slightly higher Tuesday in a quiet, shortened trading week. The Dow Jones Industrial Average is within reach of the symbolic 20,000 level. The S&P Corelogic Case-Shiller home price index for October was released, showing home prices in 20 metropolitan cities rose 0.6% month over month, beating estimates of 0.5%. The cities with the largest year-over-year gains in prices were Seattle, Denver and Portland. Plus, the European Central Bank said Italy's oldest bank, Monte dei Paschi (BMDPY) , is in need of 8.8 billion euros ($9.2 billion), compared to a previously reported 5 billion euros. This raises questions as to whether last week's 20 billion euro bailout plan organized by the Italian government is enough to keep Monte dei Paschi and other banks afloat. Meanwhile, Tesla (TSLA) - Get Tesla Inc Reportand Panasonic have agreed to work together on building a Gigafactory, a battery manufacturing plant in the United States. The facility will create 6,500 jobs by 2020. 

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