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Another record for Dow...Oil prices down... New home sales report is good

By The Associated Press | Posted - Feb. 24, 2017 at 3:38 p.m.



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NEW YORK (AP) — It's another record close for the Dow Jones industrial average. A late burst of buying today erased earlier losses in U.S. stock indexes and left the Dow with its 11th straight gain. The Dow gained 11 points to end the day at 20,821. The Standard & Poor's 500 index rose just over 3 points to 2,367, also a record. Meanwhile, the Nasdaq composite climbed nearly 10 points to close at 5,845.

NEW YORK (AP) — Oil futures are down today. Benchmark U.S. crude fell 46 cents to $53.99 a barrel in New York. At the same time, Brent crude, the standard for pricing international oils, fell 59 cents, or 1 percent, to $55.99 a barrel in London.

WASHINGTON (AP) — The latest report from the Commerce Department shows that Americans bought more new homes in January after a steep fall-off the previous month, a sign the housing market is healthy despite higher mortgage rates. New home sales rose 3.7 percent to a seasonally-adjusted 555,000. That is 5.5 percent higher than a year ago. Solid job gains and some signs of rising wages have driven up consumer confidence.

BERLIN (AP) — Figures released today by Volkswagen show the German automaker bounced back into the black in 2016 after suffering a loss the previous year due to the diesel emissions scandal. The company reported a net profit attributable to Volkswagen AG shareholders of $5.4 billion last year compared with a net loss in 2015. VW agreed to pay more than $16 billion in buybacks and compensations to owners of VW cars in the U.S. alone.

SAN DIEGO (AP) — U.S. Customs and Border Protection says it plans to start awarding contracts by mid-April for President Donald Trump's proposed border wall with Mexico, signaling that he is aggressively pursuing plans to erect "a great wall" along the 2,000-mile border. The agency says it will request bids on or around March 6 and that companies would have to submit "concept papers" to design and build prototypes by March 10.

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The Associated Press

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