Mixed start for Wall Street …US pending home sales up in June… New products for Harley-Davidson
NEW YORK (AP) – Stocks are off to a mixed start on Wall Street as gains in banks and energy companies are offset by losses in other sectors. Phone companies are also higher in early trading today. AT&T is up 1.9 percent. Company earnings are again a focus for investors. At 10:23 a.m. Eastern Time, the S&P 500 as down5 points, to 2,814. The Dow was up 6 points to 25,457. And the Nasdaq dropped 58 points, to 7,680. Bond prices fell. The yield on the 10-year Treasury note rose to 2.99 percent.
WASHINGTON (AP) – More Americans signed contracts to purchase homes in June compared to May, but the volume of pending sales has slipped over the past year. The National Association of Realtors says that its pending home sales index rose 0.9 percent last month to 106.9. But on a yearly basis, pending home sales have fallen 2.5 percent. There are signs that home-buying has stalled in recent months due to the mix of rising prices, higher mortgage rates and a dearth of sales listings.
MILWAUKEE (AP) – Harley-Davidson says it will roll out some new products and stores to broaden its audience and invigorate sales. The American motorcycle company, facing dwindling sales in its home market, is introducing smaller bikes, electric engines, online sales and urban storefronts. With sales rising in Asia and India, Harley-Davidson says it’s developing smaller bikes with 250 to 500 cubic centimeter engines, to make the more accessible, but it has no plans to pull back on manufacturing its big bikes.
TEHRAN, Iran (AP) – Iran’s currency has dropped to a record low ahead of the imposition of renewed American sanctions, with many fearing prolonged economic suffering or possible civil unrest. The rial dropped to 122,000 to the dollar on the thriving black market exchange Monday, from the previous low set the day before of 116,000. The central bank blames the currency’s free fall on “the enemies’ conspiracies.” President Donald Trump’s administration announced the restoration of sanctions after he withdrew the U.S. from the Iran nuclear deal in May.
LEWISBUG, Pa. (AP) – Bucknell University has removed references on its website to alumnus and CBS chief executive Les Moonves amid sexual harassment allegations against him. The New Yorker magazine published the allegations from several women Friday. PennLive.com reports that Bucknell President John Bravman said in a letter to the university community that the school “will not stand for sexual misconduct – on campus or beyond.”