HOME-SALES-MARCH-2014.JPG
A pending-sale sign sits outside a Cleveland Heights house in late March. Home sales have been climbing across the country, based on listing-service data and reports from real estate trade groups, but construction and sales of new homes are meager.
(Tony Dejak, Associated Press)
Stock market news:
Stocks rallied today, shaking off global concerns after China's stock market suffered its greatest single-day loss since 2007 a day earlier. The Dow Jones Industrial Average soared 189.68 points to close at 17,630.27, the Nasdaq composite gained 49.43 points to finish at 5,089.21 and the S&P 500 index added 25.61 points to end at 2,093.25. (International Business Times)
European stocks rallied today, bouncing back somewhat from the prior day's China-led global selloff, though traders remained unsettled. (MarketWatch)
Chicago soybean, wheat and corn futures bounced today, rising on bargain-buying and short-covering after setting recent lows. (Reuters)
Business news:
Home sales have been climbing across the country, based on listing-service data and reports from real estate trade groups, but construction and sales of new homes are meager. (cleveland.com)(Associated Press)
Consumer confidence slumped in July by the most in almost four years as households became less upbeat about the outlook for the economy, employment and their finances, figures from the New York-based Conference Board showed today. (Bloomberg News)
Hillary Clinton says she will not take a position on the Keystone XL pipeline until she becomes president, citing her work on the issue as secretary of state. (The Guardian)
Blockbuster hepatitis C medicine Harvoni lifted Gilead Sciences' second-quarter profit by 23 percent as total revenue for the biotech drugmaker jumped 26 percent and it raised its 2015 sales forecast for the second time. (Associated Press)
The Virgin Galactic spaceship crash last year occurred after a co-pilot prematurely unlocked a flap assembly that's only supposed to be deployed at almost twice the speed, well past the speed of sound, the National Transportation Safety Board reported today. (USA Today)
Anadarko Petroleum, an oil and natural gas company with shale properties in Colorado and offshore assets in Africa, today reported a drop in profit as lower crude oil prices took a toll on results. (Reuters)
Hedge funds owed big bucks by Puerto Rico want their money -- and they're telling the debt-buried island to cut teachers, slash spending and collect more taxes to deal with its fiscal crisis. (New York Daily News)
Technology news:
Twitter raised the bottom end of its full-year revenue forecast as the company's push to boost advertising income paid off and it reported adjusted profit and revenue above Wall Street estimates. (Reuters)
Gur Kimchi, vice president of Amazon Prime Air, laid out the online retailer's vision for how unmanned aerial vehicles would be able to fly while avoiding planes, buildings and other obstacles. (Forbes)
HBO today announced its second deal with a pay TV provider, in this case Verizon, to make its over-the-top streaming service HBO NOW available to broadband customers who don't have a cable TV subscription. (TechCrunch)
Akamai Technologies, whose services help deliver Internet content faster, reported a near 8 percent fall in quarterly profit, hurt by a rise in costs. (Reuters)