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Futures unchanged ... Existing home sales ... FedEx misses expectations



Estimated read time: 2-3 minutes

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BEIJING (AP) — Global stock markets were mixed in a narrow range after U.S. stocks hit record levels despite attacks in Germany and Turkey. Futures for the Dow Jones industrial average and Standard & Poor's 500 index were unchanged.

WASHINGTON (AP) — The National Association of Realtors will release existing home sales for November this morning, following an October that saw Americans buy homes at the fastest pace in nearly decade. Those home-buyers were driven by low mortgage rates, which have climbed since the election of Donald Trump. The November numbers will provide the first glimpse of the impact his election has had on the real estate market.

NEW YORK (AP) — FedEx reported second-quarter earnings that missed Wall Street expectations as the shipping company's expenses soared. FedEx reported net income of $700 million, or $2.59 per share, for the most recent quarter. Earnings, adjusted to remove the costs related to its recent acquisition of TNT Express, were $2.80 per share. That's far below the $2.91 per share that analysts expected, according to FactSet.

TOKYO (AP) — A court in Singapore has found a former private banker guilty of trying to obstruct investigations linked to the indebted Malaysian State Fund 1MDB. The State Court found Yeo Jiawei, a former wealth planner at Swiss private bank BSI, guilty of four charges relating to obstructing, preventing or perverting the course of justice. Yeo denied involvement in the case.

CHICAGO (AP) — A suburban Chicago man is suing McDonald's restaurants in two Illinois counties. He's arguing that cheeseburger "Extra Value Meals" are actually more expensive than when the items are purchased separately. James Gertie tells The (Arlington Heights) Daily Herald that he's seeking class-action status for a consumer fraud and deceptive practices lawsuit against McDonald's operator Karis Management Co.

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The Associated Press

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