Stocks give up early gain…Confidence on the rebound…Home sales jump
NEW YORK (AP) – Stocks have turned mixed after opening broadly higher. Investors were applauding strong first-quarter results from companies including machinery maker Caterpillar and appliance maker Whirlpool, as well as Fifth Third Bancorp. Smaller companies made big gains in an optimistic sign for the U.S. economy.
WASHINGTON (AP) – American consumers saw their confidence rebound in April to a level close to the 18-year high it had reached two months ago. The Conference Board says its consider confidence index rose to 128.7 in April, up from a March level of 127.0. The March level was just below the 130.0 hit in February, which had been the highest since November 2000.
WASHINGTON (AP) – Sales of new U.S. homes jumped 4 percent in March, propelled by a surge of buying in the West. The Commerce Department says sales last month were at a seasonally adjusted annual rate of 694,000. The two prior months had their sales revised upward with the annual rate being 667,000 in February and 644,000 in January. For the first three months of the year, sales are running 10.3 percent higher than a year ago.
WASHINGTON (AP) – U.S. home prices jumped in February as buyers are fiercely competing over a dwindling number of homes for sale. The S&P CoreLogic Case-Shiller national home price index jumped 6.3 percent in February from a year earlier, matching December’s increase, which was the largest in nearly three years.
DETROIT (AP) – Audi is recalling about 391,000 cars and SUVs in the U.S. and Canada because the electric coolant pumps can overeat and possibly cause a fire. The recall covers the 2013 to 2016 A4, the 2013 to 2017 A5, the 2012 to 2015 A6, and the Q5 SUV from 2013 to 2017. All have 2-Liter turbocharged engines. The Volkswagen luxury brand says in government documents that the pumps can become blocked with cooling system debris, or moisture in the pump can cause an electrical short. No reports of fires are listed.