BUSINESS BRIEFS
Nasdaq closing for Ford funeral
Advertiser Staff and News Services
NEW YORK — The Nasdaq Stock Market said it will close Tuesday as part of a national day of mourning to mark the funeral of President Gerald R. Ford.
The New York Stock Exchange has yet to announce whether it will close Tuesday.
MARRIOTT POINTS FOR SALE ONLINE
NEW YORK — Marriott International Inc., the biggest U.S. hotel operator, will allow members of its loyalty program to purchase points online.
Members will be able to pay $10 for 1,000 points through a partnership with Points International Ltd., Marriott spokeswoman Laurie Goldstein said today. Previously guests had to call to buy points.
The points needed for a room varies by the property. For 35,000 points, guests can book a night at the JW Marriott Ihilani Resort & Spa.
DOLLAR HOLDING AGAINST YEN
NEW YORK — The dollar approached a two-month high against the yen and pared losses versus the euro yesterday after U.S. reports showed consumer confidence and existing home sales unexpectedly rose.
The U.S. currency erased its earlier decline against the yen as the data may reduce speculation the Federal Reserve will cut borrowing costs next year. The euro advanced against the dollar and reached a record high versus the yen.
The dollar closed at 118.94 yen at 11:50 a.m. in New York from 118.87 the day before. The dollar touched 119.23 on Dec. 26, the strongest since Oct. 25.
HOME SALES UP, BUT PRICES DOWN
WASHINGTON — Sales of existing homes managed to eke out a small increase in November but the median price fell for a record fourth consecutive month, a real estate trade group reported yesterday.
The National Association of Realtors reported that sales of previously owned homes rose 0.6 percent in November to a seasonally adjusted annual rate of 6.28 million units.
The median price for an existing home sold in November dropped to $218,000, down 3.1 percent from a year ago.
US AIRWAYS SAYS DELTA BID STANDS
ATLANTA — US Airways has no intention right now to increase its $8.4 billion offer for Delta Air Lines and it can't see itself backing out of its pursuit of Delta for any reason, Chief Executive Doug Parker said yesterday.
Parker said Tempe, Ariz.-based US Airways Group Inc. firmly believes that its offer for Atlanta-based Delta Air Lines Inc. provides more value than Delta's stand-alone plan.
