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NEW YORK (AP) — U.S. stocks have been mixed to slightly lower in morning trading on Wall Street as losses for banks and big technology companies offset gains elsewhere in the market. Several retailers were moving higher, including Target and Kohl's, which reported results that were better than analysts were expecting. Victoria's Secret maker L Brands jumped after activist investors called on the company to split up.
WASHINGTON (AP) — Sales of new U.S. homes climbed in December to their highest pace in seven months, a sign that lower mortgage rates are helping the real estate market. The Commerce Department says that new-home sales rose 3.7 percent in December to a seasonally adjusted annual rate of 621,000. November's sales were revised down to 599,000 from an annual rate of 657,000.
WASHINGTON (AP) — U.S. service companies grew in February at the fastest pace in three months, rebounding after a decline in January. The Institute for Supply Management, an association of purchasing managers, reports that its service index rose to 59.7 percent last month, up from 56.7 percent in January. The January reading was the lowest since July 2018, depressed by concern over the impact of the partial government shutdown on the economy, which ended Jan. 25 after 35 days.
UNDATED (AP) — Papa John's has reached a settlement agreement with founder John Schnatter (SHNAH'-tur) that will see him step down from the pizza chain's board once an independent director that is mutually acceptable replaces him. If a new director isn't named prior to Papa John's 2019 annual shareholders meeting, Schnatter's term will expire at the meeting. Schnatter will also withdraw a lawsuit against the company.
TOKYO (AP) — A French lawyer for former Nissan Chairman Carlos Ghosn says a Japanese court has cleared the way to free him on bail, rejecting an appeal by prosecutors. But he says prosecutors could try to file new charges against the auto executive. The former head of the Renault-Nissan-Mitsubishi Motors alliance has been detained since he was arrested on Nov. 19. He says he is innocent of charges of falsifying financial information and of breach of trust.
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