Mixed markets ... Mortgage rates fall ... Yahoo-Verizon deal
NEW YORK (AP) — Markets are mixed. At 2:35 p.m. Eastern time, the Dow Jones industrial average was at 21,166.75, down 6.94 or 0.03 percent. The Nasdaq composite was up 5.90 at 6,303.28 while the S&P 500 was down 2.17 at 2,430.97
WASHINGTON (AP) — Long-term U.S. mortgage rates fell this week, as the benchmark 30-year rate declined for the fourth straight week to its lowest level in nearly seven months. Mortgage buyer Freddie Mac said today the average rate on 30-year fixed-rate home loans dropped to 3.89 percent from 3.94 percent last week.
WASHINGTON (AP) — Buoyed by higher stock prices, Americans’ household net worth rose 1.4 percent to $94.8 trillion in the first three months of this year, a trend that could support future spending. The Federal Reserve says U.S. stock and mutual fund portfolios jumped $1.3 trillion in value in the January-March quarter. Home values increased $499 billion.
NEW YORK (AP) — Yahoo’s shareholders today approved the $4.5 billion sale of its key businesses to Verizon. The deal is expected to close by June 13. The combined company will cut 15 percent of its 14,000-person workforce, or about 2,100 jobs, according to a person familiar with the matter who didn’t want to be identified.
FRIEDENS, Pa. (AP) — A new coal mine that President Donald Trump mentioned in announcing plans to pull the U.S. out of the Paris climate accord has officially opened in Pennsylvania. The Acosta Mine will supply coal used in making steel and is expected to generate up to 100 full-time jobs. It’s located in Friedens, about 60 miles southeast of Pittsburgh.