Stock gain with blue chip companies leading the way

Apartments getting smaller, oil prices down

November 27, 2018 - 3:41 pm

Stocks finished mostly higher Tuesday, led by blue chips.

The Dow Jones Industrial Average rose 108 points. The S&P 500 gained 8, while the Nasdaq edged up about a point.

Renters aren’t getting the same bang for their buck that they did a decade ago. A study by the real-estate website rentcafe shows that since 2008, the average size of a newly built apartment has shrunk by 52 square feet, or 5 percent. At the same time, rental prices are up about 28 percent. New Orleans is in the middle of the pack in terms of size, with an average 871 square-feet apartment size.

After a solid rise on Monday, oil futures closed lower today as traders remained worried about excessive supplies. January crude dipped seven cents to settle at $51.56 a barrel. Prices have fallen roughly 30 percent from four-year highs reached at the start of October, amid signs of a burgeoning supply glut and weakening demand.

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