News Summary: Nasdaq closes above 4,000

AP News
Posted: Nov 26, 2013 4:52 PM

NASDAQ AT 13-YEAR HIGH: The Nasdaq Composite rose 23.18 points, or 0.6 percent, to 4,017.75. The last time the Nasdaq closed above the 4,000-point level was Sept. 6, 2000. The other two major stock indexes barely budged. The Dow Jones industrial average rose less than a point to 16,072.80 and the Standard & Poor's 500 index also rose less than a point to 1,802.75.

HOPE FOR HOUSING: Homebuilders were among the top gainers in the broader market. They rose after the Commerce Department reported that approvals for housing permits rose in October at the fastest pace in five years.

TIFFANY SHINES: Jewelry retailer Tiffany & Co. rose $7.03, or 9 percent, to $88.02, making it the best-performing stock in the S&P 500. The company said third-quarter earnings jumped because of strong sales in Asia. The company also raised its full-year forecast.