CNN Money: Top business headlines for August 23

    6:53 AM, Aug 23, 2013   |    comments
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    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Friday, August 23.

    Trading glitches a sad new market reality
    In the second significant trading glitch this week, most major exchanges were forced to halt trading in more than 2,700 Nasdaq-listed stocks for several hours Thursday. Some of the market's most popular stocks, including Apple, Google, Microsoft, Intel and Facebook, were at a virtual standstill until trading resumed for all Nasdaq stocks at 3:25 p.m.

    Mortgage rates hit two-year high
    The average weekly rate for a 30-year fixed-rate mortgage jumped to a two-year high, Freddie Mac said on Thursday. The rate is now 4.58%, up from 4.4% the prior week. That is the highest level for the 30-year in more than two years, since it hit 4.6% on July 7, 2011, according to Freddie Mac spokesman Chad Wandler.

    America's favorite credit cards
    A new survey of credit card customers puts American Express at the top of the pile once again. For the seventh year in a row, American Express ranks highest in satisfaction among 14,000 customers polled by J.D. Power. The survey, released Thursday, asks customers to evaluate their interactions with their credit card issuer, the rewards, benefits, billing and payment options and problem resolution. American Express earned a score of 816 out of 1,000, with customers saying they are especially happy with its rewards programs and benefits, as well as its billing and payment services.

    Selling your old iPhone? Do it now
    That old iPhone sitting in the bottom of your sock drawer could be worth $300 -- but only if you act now. Old iPhones hold their worth better than any other smartphone on the market. But iPhones' resale value takes a nosedive right before Apple announces a new version of its smartphone -- and Apple is expected to do just that on Sept. 10. Apple is widely expected to introduce a gold-colored iPhone, a fingerprint sensor and a new low-cost "iPhone C."



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