8/23/22

Some Hyundai and Kia SUVs need to be moved outside. And McDonald’s is ready to test a new sandwich. More red numbers on Wall Street after yesterday’s big sell-off. Investors are eagerly anticipating Fed Chairman Jerome Powell’s big speech this Friday.

The Dow fell 154 to close at 32,909
The S&P lost 9 points
The Nasdaq was unchanged

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New home sales fell almost 13% in July from June. Down almost 30% from a year ago. Rising prices and mortgage rates are slowing down the “buying frenzy” we saw the last two years. Only 511,000 homes were sold last month – the lowest number since January of 2016.

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Hyundai and Kia are recalling their Palisade and Telluride SUVs – saying they should be parked outside because of a fire risk. A trailer hitch can short circuit and catch fire. Once a repair is available, vehicle owners will be notified.

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Are you ready to taste this? That’s a Chicken Big Mac. McD’s is bringing it to the states after it sold out in the U.K. in just two weeks. Just sub the two all-beef patties with chicken. McDonalds will test the sandwich in Florida to see how it does.

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From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.