S&P hits longest run in 4 years
New York stocks extended an eight day winning streak led by the S&P 500 to 2,552.07 while the Dow rose to 22,775.39 and the Nasdaq to 6,585.36. Investors watch for a potential market pullback after a rapid climb amid improving economy and profits. risks noted include political tensions and tax reform progress.
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Federal rules tighten payday loan sector nationwide
The CFPB finalized strict payday and auto title lending rules, requiring lenders to assess if a borrower can repay within 30 days with interest and limiting loan renewals. The rules could cut loan volume by about 55 percent, threatening store closures across the 16,000 locations in 35 states. The regulations take effect 21 months after Federal Register publication.
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U S trade deficit narrows to forty two point four billion
The Commerce Department reported August U S trade deficit at 42.4 billion the smallest in 11 months with exports rising to 195.3 billion and imports sliding to 237.7 billion. Goods deficit widens with Mexico and China as exporters benefit from a weaker dollar amid improving global demand. Cedar Fair CEO to step down in January with Richard Zimmerman named as successor to lead company headquartered in Sandusky, Ohio.
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