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Stocks climb...Mortgage rates fell...Barbie gets fashion award

May 16, 2019

NEW YORK (AP) _ Stocks are rising on Wall Street for the third day in a row, erasing the big plunge they took on Monday on worries about the worsening trade fight between the U.S. and China. Banks reversed course today and helped lead the broad gains.

WASHINGTON (AP) _ Long-term mortgage rates fell slightly this week, marking a third straight week of declines as a continued inducement to purchasers in the spring homebuying season. Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage eased to 4.07% from 4.10% last week. The average rate for 15-year, fixed-rate home loans declined to 3.53% from 3.57% last week.

DETROIT (AP) _ The National Transportation Safety Board says Tesla’s Autopilot semi-autonomous driving system was in use when one of its cars drove beneath a semitrailer in Florida in March, killing the driver. The crash involving the Tesla Model 3 is strikingly similar to a 2016 crash near Gainesville, Florida, that also killed the driver.

INDIANAPOLIS (AP) _ Business software company Salesforce says it aims to provide skills training to 500,000 people as part of a Trump administration push to boost career opportunities among Americans. The pledge was made during an event at its Indianapolis offices with President Donald Trump’s daughter, Ivanka Trump. The San Francisco-based company says its free online platform Trailhead will offer training in tech skills needed for Salesforce positions.

NEW YORK (AP) _ The Council of Fashion Designers of America has decided to grant Barbie its prestigious Board of Directors’ Tribute Award. The council said it will celebrate the doll as a fashion icon, coinciding with her 60th anniversary. Past honorees include Gloria Steinem and Cecile Richards, along with Michelle Obama and former New York Mayor Michael Bloomberg. Fashion collaborators Oscar de la Renta, Jeremy Scott, Ralph Lauren, Diane von Furstenberg, Bob Mackie and Vera Wang have all made special Barbies.

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