Weak U S factory output dims hopes for rebound
The Federal Reserve reports August factory production fell 0.4 percent after July gains, with broader industrial output also down 0.4 percent. Analysts cite weak global growth, a strong dollar, and tepid business investment as factors. Mining rose 1 percent while utilities slid 1.4 percent. The Empire State index remained negative, signaling continued contraction.
MENTIONED IN THIS ARTICLE
Washington
U.S
Federal Reserve
Andrew Hunter
Capital Economics
Federal Reserve Bank of New York
Retail sales slip in August showing softer consumer demand
U S retail sales fell 0.3 percent in August from July, the first drop in five months, with core sales down 0.1 percent excluding autos. The report suggests cautious consumer spending despite favorable borrowing costs and job gains, ahead of Federal Reserve policy talks.
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Commerce Department
Washington
Bloomberg
David Sloan
4Cast Inc
New York
Federal Reserve
Stock market bounces back as tech gains lead
The market rebounded with Apple up for a fourth straight day and other tech names rising as investors weighed mixed data on inflation and the Fed. Energy, health care, and telecom stocks climbed while bonds were little changed amid rate uncertainty. The Dow rose 177.71 to 18212.48, S&P 500 21.49 to 2147.26, Nasdaq 75.92 to 5249.69. Apple jumped to 115.57 after strong iPhone preorder reports.
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Associated Press
Samsung Note 7 recall made official by U.S. safety agency
U.S. safety regulators issued a formal recall of the Samsung Galaxy Note 7 due to fire risk. About 1 million devices are affected with refunds offered, following earlier voluntary recalls after multiple explosions. Samsung and regulators debated recall timing as Apple released new iPhones.
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Bethesda
Samsung
U.S
Consumer Product Safety Commission
Elliot Kaye
Kaye
Apple
Fiat Chrysler recalls 1.9 million vehicles worldwide
Fiat Chrysler Automobiles recalls more than 1.9 million vehicles worldwide due to air bags that may fail to deploy in a frontal crash. Affected models include 2010 14 Chrysler Sebring Cirrus 200 2011 14 Chrysler 200 2010 14 Dodge Caliber Avenger 2010 14 Jeep Patriot Compass 2012 13 Lancia Flavia. FCA reports three deaths and five injuries may be linked.
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Roundup
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