U.S. stocks closed higher Friday after a choppy start, preserving slim gains over a tumultuous week marked by thin summertime volumes. The Dow advanced 69, to finish at 17,477; the S&P rose 8, to close at 2,092; and the Nasdaq was 15 higher, at 5,048.
With the housing market in the 4th year of recovery, construction of single family homes and multi-family rentals is rebounding. Not so for condo construction, which has been slammed by tough rules on condo mortgages enacted after the housing bust, as well as stronger demand among young people for rentals and tight lending conditions for builders.
The frenzy of deal-making that is sweeping the US healthcare industry has hit unprecedented levels. The value of US healthcare acquisitions announced this year is $356 billion, according to Dealogic. That figure tops the $323 billion in US healthcare deals announced all of last year, a record for the sector, and ranks as the highest deal volume total for any sector at this point in a year on record.
Listen in for much more in the Wall Street Wrap-up.
