Stocks lower…GM to add jobs…Existing homes sales soar
NEW YORK (AP) – Stocks are sharply lower in morning trading on Wall Street, led by declines in banks and industrial companies. Citigroup dropped in early trading, and Boeing fell after Indonesia’s flag carrier said it would seek to cancel an order of 49 of the company’s 737 Max 8 jets. Despite several down days this week the S&P 500 is still on track to close out its second weekly gain in a row.
ORION TOWNSHIP, Mich. (AP) – Less than a week after a series of critical tweets from President Donald Trump over an Ohio plant closure, General Motors is announcing plans to add 400 jobs and build a new electric vehicle at a Michigan factory. The company announced it will spend $300 million in Orion Township to build a Chevrolet vehicle based on the battery-powered Bolt. GM also announced plans to spend another $1.4 billion at U.S. factories with 300 more jobs.
WASHINGTON (AP) – Arkansas-based Tyson Foods is recalling more than 69,000 pounds of frozen, ready-to-eat chicken strips because they may be contaminated with pieces of metal. The USDA say the products were produced on Nov. 30, 2018, and have a best if used by date of Nov. 30, 2019. The products have the establishment number “P-7221” on the back of their packages. The USDA says there are no confirmed reports of anyone being injured.
WASHINGTON (AP) – U.S. home sales soared 11.8 percent in February, aided by accelerating wages and falling mortgage rates that are improving affordability. The National Association of Realtors says existing homes sold at a seasonally adjusted annual rate of 5.51 million last month, a decisively sharp rebound from a pace of 4.94 million in January.
BRUSSELS (AP) – European Union leaders are gathering again after deciding that the political crisis in Britain over Brexit poses too great a threat to the world’s biggest trading bloc. In a move that underlined their loss of confidence in British Prime Minister Theresa May, the leaders set two deadlines. They’re giving her until May 22 to persuade Britain’s Parliament to endorse the Brexit deal. Failing that, May would have until April 12 to choose a new path.