Stocks mixed...Positive reaction to Iran deal...Pending home sales down

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Associated Press

Posted on November 25, 2013 at 11:02 AM

Updated Monday, Nov 25 at 11:02 AM

NEW YORK (AP) — Stocks are mixed in morning trading. The weekend deal between Iran and six world powers to limit Iran's nuclear program in exchange for loosening sanctions appears to be boosting shares, with key indexes in Europe and Asia higher. The Dow was up about 40 points by mid-morning, while the broader indexes have been wavering between small gains and losses.

LONDON (AP) — Investors are reacting positively to the deal world powers have reached with Iran, curbing Iran's nuclear ambitions. Traders see it as reducing the risk of conflict, improving trade and possibly boosting crude oil supplies down the road. In exchange for limiting uranium enrichment to 5 percent, far below the level needed for nuclear weapons, Tehran is getting limited relief from economic sanctions. However, the embargo on Iran's oil exports remains in place while negotiations continue for an enduring deal.

WASHINGTON (AP) — The number of Americans who signed contracts to buy homes fell in October for the fifth straight month. The National Association of Realtors says its seasonally adjusted pending home sales index dipped 0.6 percent to 102.1. Higher mortgage rates, price increases and the 16-day partial government shutdown held back sales. The Realtors group says the shutdown prevented the IRS from verifying incomes, a critical part of the mortgage-approval process.

BENTONVILLE, Ark. (AP) — There's a change at the top for Wal-Mart. CEO and President Mike Duke is stepping down, and the world's biggest retailer has named Doug McMillon as his successor. McMillon's previously served as CEO of Walmart International. Duke will stay on as chairman.

DENVER (AP) — Hunters opposed to Colorado's new gun laws had threatened to boycott the state this hunting season. But now that Colorado's primary big game hunting seasons have closed, the initial figures suggest the boycott failed. Colorado Parks and Wildlife says they are up about 5,000 hunting licenses over last year at this time.

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