Wall Street surges, driven by news headlines from the Commerce Department, which said home construction increased last month. Mark Lasseigne has your market report on today's Acadiana Business Index.

 

 
 
  • Data from the Commerce Department, showed a 25% increase in multi-family homes, such as apartments, a volatile part of the market. Construction of single-family homes, which makes up about 65% of the market, rose only 2.3%. 
 
  • Stocks of home builders and apartment operators gained following the news. Beazer jumped 15%, Lennar rose 6.3% and Toll Brothers advanced 6.4%.
 
  • Light, sweet crude closed at $97.22 a barrel on the New York Mercantile Exchange.
 
  • And gold settled at $1,618 an ounce.
 
  • Trading volume was again light as many professional investors are closing their books prior to year-end and ahead of the holidays.