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U.S. home sales rise in August
Sales of existing homes rose 7.8% in August to an adjusted annual rate of 4.82 billion, The Associated Press reported today. This marks the highest rate of sale in more than two years, the AP said. The government also reported that homebuilders began work on more new homes in August compared with months prior.
However, all is not rosy. The number of first-time homebuyers has declined from 34% to 31%, the AP said.
Groupon announces mobile-payment service
Bank of Japan follows U.S. into monetary easing
The Bank of Japan, the country's central bank, took additional steps toward boosting economic growth today, AP reports. The bank said it would increase both the size and the duration of its bond-buying program in an effort to kick-start borrowing and spending. The central bank also removed a minimum required interest rate on government bonds in an effort to stabilize the economy, the AP reported.
Hope Nelson-Pope is managing news editor at The Motley Fool and owns shares of Apple, but none of the other companies mentioned in this article. The Motley Fool owns shares of Apple. Motley Fool newsletter services have recommended buying shares of Apple. Motley Fool newsletter services have recommended creating a bull call spread position in Apple. The Motley Fool has a disclosure policy.