Fed Beige Book finds economy growing modestly in late spring
The Beige Book reports modest growth across most regions in late May and June. Employment continued to rise despite a 287,000 June job gain, and consumer spending remained generally positive though showing some softening. The housing market underpinned growth while manufacturing showed improvement.
MENTIONED IN THIS ARTICLE
FED
U.S
Federal Reserve
Labor Department
Amazon Prime Day orders rise 50 percent in U S
Amazon called Prime Day its biggest day ever with U S orders up more than 50 percent from last year and global orders up over 60 percent. The event launched last year as a shopping holiday akin to Black Friday and Cyber Monday.
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Amazon
U.S
China
Alibaba
Court ignition lawsuits against GM can proceed
The U.S. 2nd Circuit Court of Appeals reversed a bankruptcy judge, ruling that General Motors cannot be immune from lawsuits over ignition-switch defects. The decision allows hundreds of individual suits and consumer class actions to move forward, affecting victims whose vehicles allegedly lost value due to the 2009 restructuring and related scandal.
MENTIONED IN THIS ARTICLE
General Motors
U.S. 2Nd Circuit Court of Appeals
Auto sales forecasts trim seven year growth streaks
LMC Automotive cuts 2016 forecast to 17.4 million vehicles down 1.7 percent from prior outlook, signaling the seven year rise may end. TrueCar projects 17.6 million, down from 18 million, with both citing global Brexit fallout and U.S. election uncertainty as key factors. Edmunds and Kelley Blue Book still expect gains, while demographic shifts among Millennials are not seen as a major factor.
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LMC Automotive
TrueCar
LMC
Jeff Schuster
United Kingdom
Eric Lyman
U.S
Autodata
USA
Edmunds.com
Aaron Lewis
Kelley Blue Book
KBB
Tim Fleming
SMC
Schuster
Lyman
FCC prepares 5G spectrum push and faster wireless frontier
The FCC plans a Thursday vote designating huge blocks of 28 37 and 39 GHz spectrum for licensed 5G mobile broadband with speeds up to 100 times current wireless. Additional 64 71 GHz band would be set aside for unlicensed use. FCC Chair Tom Wheeler calls it a pivotal year for the commission and the U.S. lead in next gen networks. Major trials are eyed for next year with early deployment in 2018.
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Federal Communications Commission
FCC
At&t
Verizon
Tom Wheeler
House
Richard Adler
Institute For the Future
Adler
Dirty Dozen drag on Dow to new high
The Dow climbed to 18,372, marking a second straight daily high, but a USA TODAY analysis identifies 12 lagging Dow stocks including Goldman Sachs Apple and American Express that have eroded over 1,200 points from the May 19, 2015 peak, hindering further gains.
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Goldman Sachs
Apple
American Express
USA Today
S&p Global
Dow
Dow Losers Signal Cautious Market as Dow Claws Back
The Dow shows gains but investors remain wary with Goldman Sachs down 23 percent from its 2015 high, shaving 327 points from the index. American Express and Apple also slide as low rates and tepid growth weigh on economically sensitive banks and tech. SunTrust strategist says market could still extend gains despite the pullback.
MENTIONED IN THIS ARTICLE
Dow
David Sowerby
Loomis, Sayles
Goldman Sachs
Goldman
Devin Ryan
JMP Securities
American Express
Apple
SunTrust
Keith Lerner
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Moneyline
Karen Bleier
AFP/GETTY IMAGES
DOW Jones Industrial
Marketwatch.com
Usatoday.com
Bankrate.com
Jae Yang
Veronica Bravo
Auto Sales Report
Howev
SVRV
Karl Gelles
Wireless Frontier
Merck
Walmart
Jpmorgan
Chase du Pont
Caterpillar
Walt Disney
United Tech
Boeing
IBM
Amer. Express
Sachs
S&p