New home sales rise 2.8% to 870,000 pace in July

11:45 am ET Aug 24, 2007

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New home sales rise 2.8% to 870,000 pace in July

WASHINGTON
Sales of new home increased 2.8% in July to a seasonally adjusted annual
rate of 870,000 as the inventory of homes for sale dropped for a fourth
straight month, the Commerce Department estimated Friday.

Market Snapshot: U.S. stocks rise after housing data

NEW YORK
U.S. stocks rose Friday, following early hesitations at the open, with a
larger-than-expected increase in new home sales in July and a big jump
in durable-goods orders helped soothe recent anxiety about credit woes.

That was then, this is now for gold

SAN FRANCISCO
Investors can learn some lessons from gold's past, but don't expect them
to stick. The gold market isn't exactly the same now as it was then.

AnnTaylor profit drops 27%, plans to launch boomer store

NEW YORK
AnnTaylor Stores Corp. on Friday posted a nearly 27% decline in
second-quarter profit, but the women's apparel retailer said it was
launching a new store concept targeting the "modern boomer."
Bank of China shares dip in Hong Kong on subprime exposure

HONG KONG
Hong Kong-listed shares of Bank of China Ltd. shed more than 5% Friday
after officials disclosed the bank had almost $10 billion of exposure to
securities backed by U.S. subprime mortgages.