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Stocks edge higher...Durable goods orders down...Trump sued over 'university'

Monday - 8/26/2013, 11:30am  ET

NEW YORK (AP) -- The stock market is edging higher in early trading. A plunge in factory orders last month appears to be making investors cautious. The Dow was up 25-30 points in the first hour of training, while the S&P 500 index was up about four and the Nasdaq was up 15 points.

WASHINGTON (AP) -- Plummeting demand for commercial aircraft and a cutback in spending on computers and electrical equipment by businesses are being attributed for a sharp drop in U.S. factory order last month. The Commerce Department says orders for durable goods plunged 7.3 percent in July, the steepest drop in nearly a year. But when the volatile transportation category is factored out, orders fell just 0.6 percent.

BANGKOK (AP) -- Oil has been trading above $106 a barrel today. Benchmark crude for October delivery settled at $106.42 on Friday, gaining $1.39. AAA puts the average price for a gallon of gasoline at $3.54 nationwide.

NEW YORK (AP) -- New York's attorney general has filed a $40 million lawsuit against Donald Trump, accusing him of fraud. The lawsuit claims the real estate tycoon's "Trump University" promised to make students rich but instead steered them into expensive and mostly useless seminars. Appearing on ABC and NBC this morning, Trump vows he won't settle, and labeled New York Attorney General Eric Schneiderman (SHNEYE'-dur-muhn) a "political hack."

NEW YORK (AP) -- The first woman to own a seat on the New York Stock Exchange has died. Muriel "Mickie" Siebert bought the seat in December 1967 after months of struggling with the male-dominated business world. She established her investment firm the same year and it's now known as Siebert Financial, after going public in 1996. Siebert died on Saturday in New York of complications from cancer. She was 80.


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