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Wall Street mostly flat... Home sales plunge... Economy grows, but slower



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NEW YORK (AP) — Stocks were mostly flat in early trading, helped by a stabilization in oil prices. Chipotle Mexican Grill fell on more worries about the safety of its food. The Dow Jones industrial average was up 30 points at 17,280 as of 10:12 a.m. Eastern. The Standard & Poor's 500 index rose three points to 2,023 and the Nasdaq composite rose four points to 4,974.

WASHINGTON (AP) — Home sales plunged sharply in November, as rising prices are creating affordability pressures and new regulations have delayed finalizing purchases. The National Association of Realtors says sales of existing homes collapsed 10.5 percent to a seasonally adjusted annual rate of 4.76 million. It was the weakest pace in 19 months.

WASHINGTON (AP) — The U.S. economy grew at a slightly slower pace over the summer than the government had previously estimated. The Commerce Department says the economy, as measured by the gross domestic product, expanded at a 2 percent annual rate in the July-September quarter. That was a bit lower than its previous estimate of 2.1 percent.

DEARBORN, Michigan (AP) — Ford is recalling about 313,000 older large cars in North America because the headlights can go dark and cause a crash. The recall covers some Ford Crown Victoria and Mercury Grand Marquis from the 2003 to 2005 model years. Ford says it knows of 11 crashes and one minor injury because of the problem.

ST. LOUIS (AP) — Express Scripts is projecting 2016 earnings that surpass Wall Street expectations, sending shares of the nation's largest pharmacy benefits manager sharply higher before the opening bell. The St. Louis company says it expects adjusted earnings next year to range between $6.08 and $6.28 per share.

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The Associated Press

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