Stocks open higher…Consumer confidence gains…Home prices show slower increase
NEW YORK (AP) – Stocks are mostly higher on Wall Street following some encouraging results from U.S. companies. Giant food maker Mondelez International, which makes Oreo cookies and other products, rose 3 percent in early trading. Under Armour soared 23 percent. General Electric dropped 2 percent after cutting its dividend and announcing another big restructuring.
WASHINGTON (AP) – U.S. consumer confidence rose again this month, hitting a new 18-year high. The Conference Board says its consumer confidence index climbed to 137.9 in October from 135.3 in September. Both readings are the highest since September 2000.
WASHINGTON (AP) – U.S. home price gains slowed for the fifth straight month in August as higher mortgage rates have lowered home sales. The S&P CoreLogic Case-Shiller 20-city home price index increased 5.5 percent in August compared with a year earlier, down from a 5.9 percent gain in the previous month.
THE HAGUE, Netherlands (AP) – A group of technology company chiefs is warning that a digital services tax proposed by the European Commission would hinder innovation and economic growth. The Commission unveiled its plan in March, insisting that EU member countries should be able to tax firms that make profits on their territory even if they aren’t physically present.
ALBANY, N.Y. (AP) – New York state has filed a lawsuit against a national jewelry retailer, claiming the company uses false and deceptive methods to dupe U.S. military members into illegal financing contracts for overpriced merchandise. The lawsuit alleges Harris Jewelry used its “Operation Teddy Bear” charitable donations campaign to lure service members into high-priced, in-house financing contracts. The company calls the allegations “inaccurate and baseless” and says it will contest the lawsuit.