NEW YORK (AP) — Stocks closed lower on Wall Street as a slide in banks and energy companies offsets solid gains for the technology sector. Homebuilders also declined Thursday following new data showing sales of new homes slumped in July. Lennar fell. The Dow slid 51 points The S&P fell 1 point, or 0.1 percent, to 2,860 as of 3:16 p.m. Eastern Time. The Nasdaq composite added 8 points.

WASHINGTON (AP) — Federal regulators are saying that U.S. banks set a record by making more than $60 billion in profits in the second quarter, up more than 25 percent from a year earlier. The Federal Deposit Insurance Corporation said the profit boost came because banks have been able to charge more interest on loans in recent months, and received a substantial lift from the tax law enacted last year that lowered corporate income tax rates.

WASHINGTON (AP) — The Trump administration has laid down rules aimed at preventing residents in high-tax states like California and New York from avoiding a new cap on widely popular state and local tax deductions. The action over the new Republican tax law pits the government against high-tax, heavily Democratic states in an election-year showdown. A dozen states, most of them predominantly Democratic, have taken or are considering measures to get around the cap.

WASHINGTON (AP) — A congressional watchdog says the Trump administration needs to step up its management of sign-up seasons under former President Barack Obama's health care law after mixed results last year in the throes of a failed GOP effort to repeal it. The GAO report is likely to add to Democrats' election-year narrative that the administration actively undermined "Obamacare" without regard for the consequences to consumers.

CLEVELAND (AP) — The national chain Jo-Ann Fabric has created an online petition asking customers to support the privately held company's efforts to obtain exemptions for tariffs on products imported from China. A spokeswoman for the Hudson, Ohio-based chain said Thursday more than 20,000 people have signed the petition since Monday. Jo-Ann's Amanda Hayes says the 25-percent tariffs target hundreds of imported products from China and sold to U.S. customers, including fabrics, fleece and yarn.