Stocks up a little...Retail sales up, barely...Industrial production rises
NEW YORK (AP) — Stock indexes are edging higher in morning trading on Wall Street as banks climb but retailers and big-dividend stocks slide. The Federal Reserve said production of cars and energy jumped in August. However, monthly retail sales were weaker than analysts expected. Interest rates are climbing as investors expect continued economic growth and further interest rate increases.
WASHINGTON (AP) — Retail sales barely rose in August as shoppers spent less on cars, furniture and clothes. The Commerce Department says the value of purchases ticked up just 0.1 percent, the smallest increase in six months, after a robust gain of 0.7 percent in July. Auto sales fell 0.8 percent last month, and clothing stores sales plunged 1.7 percent, the steepest drop in 18 months.
WASHINGTON (AP) — The Federal Reserve says industrial production rose by a healthy 0.4 percent in August, boosted by gains in the production of autos, oil and natural gas. Factory production increased 0.2 percent, lifted by a 4 percent rise in the making of vehicles and parts. Automakers assembled vehicles at their strongest pace since April. Mining output posted a 0.7 percent monthly gain. Production at utilities advanced 1.2 percent in August, powered by a surge in electricity usage. Industrial production has climbed 4.9 percent over the past 12 months.
CAPE CANAVERAL, Fla. (AP) — SpaceX says it has signed the first private moon traveler. Who it is — and when the flight to the moon will be — will be announced Monday. It’s not the same mission plan SpaceX founder Elon Musk outlined last year. The original plan called for two paying passengers to fly around the moon this year, using a Falcon Heavy rocket and a Dragon crew capsule. The new strategy is to still fly around the moon, but using an even bigger SpaceX rocket still in development that has its own dedicated passenger ship.
XENIA, Ohio (AP) — The Agriculture Department says Bob Evans Farms is recalling nearly 47,000 pounds of pork sausage links because they might contain pieces of plastic. The 12-ounce trays are labeled Bob Evans Maple Pork Sausage Links, Brown Sugar and Honey, Fresh from Meijer Maple Flavored Sausage Links or Giant Eagle Maple Pork Breakfast Sausage Links Caramel Color Added. All have a lot code of 8213. The items have establishment number “EST 6785” and were sold in Indiana, Illinois, Maryland, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Virginia and Wisconsin.