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Mortgage rates, American Airlines, Johnson & Johnson: Top stories

Alexandra Canal
·Senior Reporter

Yahoo Finance Live anchor Alexandra Canal breaks down the latest housing data while also taking a look at the stock performance of American Airlines and pharmaceutical company Johnson & Johnson after reporting earnings.

Video Transcript

ALEXANDRA CANAL: Well, it's closing time here at Yahoo Finance. Here's a look at some of the top stories of the day.

Home buyers getting a little relief on rates. The 30-year fixed edging lower over the last week, now at 6.78%. But lack of inventory is a big concern. Existing home sales fell nearly 19% in June from a year ago. It was the slowest pace of sales since 2009.

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American Airlines was a top trending ticker on Yahoo Finance after the company reported strong earnings, but guidance hit the stock. While American raised its full year guidance, some analysts say there were some details about pricing power that spooked investors. The stock was down more than 6% on the day.

Dow component Johnson & Johnson reporting earnings this morning. The health care giant reporting better-than-expected earnings and revenue also raised its full year guidance. J&J seeing strength in its medical tech business. And the results come amid concerns about the thousands of talc-related lawsuits the company faces.