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Shares of EV maker Lucid slide after disclosing SEC subpoena

SILVER SPRING, Md. (AP) — Shares in the electric vehicle startup Lucid Group tumbled Monday after saying that said it had been subpoenaed by government regulators, apparently over the process by which...

Wells Fargo 2Q results beat Street estimates

WASHINGTON (AP) — Wells Fargo reported better-than-expected earnings despite lower interest income in the second quarter, a potential concern for investors with a Fed interest rate cut likely on the h...

US construction spending fell 1.1 percent in June

WASHINGTON (AP) — Spending on U.S. construction projects fell 1.1 percent in June, the biggest decline in more than a year as spending on public construction dropped at the highest rate in more than f...

US construction spending rose 0.4 percent in May

WASHINGTON (AP) — Spending on U.S. construction projects edged up 0.4 percent in May, while April's figure was revised down significantly — signs that new building is still uneven despite a growing ec...

Consumer confidence bounces back in May

WASHINGTON (AP) — American consumers were feeling more a bit more optimistic in May following a slight decline in confidence in April. The Conference Board, a business research group...

US pending home sales slump 4.7 percent in January

WASHINGTON (AP) — The pace of Americans signing contracts to buy homes fell 4.7 percent in January to its lowest level in more than three years, due to a lack of homes for sale, higher prices and risi...

US pending home sales rose 0.5 percent in December

WASHINGTON (AP) — The pace of Americans signing contracts to buy homes rose for a third straight month in December, raising an index of pending home sales by 0.5 percent. The Nationa...

Average 30-year mortgage rates rise to 3.99 percent

WASHINGTON (AP) — The cost of borrowing money to buy a home rose slightly this week, but remains historically low. Mortgage buyer Freddie Mac says the average rate on 30-year fixed-r...

US service sector expands at slower rate in December

WASHINGTON (AP) — U.S. services companies expanded at a slower pace in December for the second straight month. The Institute for Supply Management says its services index slipped las...

US construction spending rose 0.8 percent in November

WASHINGTON (AP) — U.S. builders spent 0.8 percent more on construction projects in November. It was the fourth consecutive monthly gain and provides evidence that construction should continue to suppo...

Applications for US jobless aid hold at 245,000

WASHINGTON (AP) — The number of unemployed workers filing for jobless benefits remained the same from the previous week at 245,000, a low level signaling a healthy job market. The La...

US new home sales skyrocket 17.5 percent in November

WASHINGTON (AP) — Americans stepped up their purchases of new homes at the fastest pace in more than 25 years in November, with sales skyrocketing 17.5 percent amid robust demand and a continued short...

US durable goods orders rise 1.3 percent in November

Orders for long-lasting manufactured goods rose last month by 1.3 percent, boosted by orders for both commercial and defense aircraft. A category that measures business investment slipped for the firs...

US business stockpiles unchanged in September as sales rose

WASHINGTON (AP) — U.S. business stockpiles were unchanged in September, while sales rose at a healthy clip, a sign that companies may need to order more goods in the coming months. T...

Mortage rates hold at 3.94 percent this week

WASHINGTON (AP) — The costs of borrowing money to buy a home held steady this week as U.S. mortgage rates hover near relative lows. Mortgage buyer Freddie Mac said Thursday that the ...