Stocks mixed...Fed keeps rate unchanged...Most automakers report October gains
NEW YORK (AP) — Stock indexes are mixed in afternoon trading on Wall Street, after giving back some of their earlier gains. Energy stocks led the market. Oil producers climbed as the price of benchmark U.S. crude briefly topped $55 per barrel, touching its highest level since Jan. 3. Smaller stocks fell more than the rest of the market.
WASHINGTON (AP) — The Federal Reserve is keeping its key interest rate unchanged, but hints that it’s preparing to resume raising rates as the economy shakes off the impact of recent hurricanes. The decision announced today leaves the benchmark rate in a low range of 1 percent to 1.25 percent. President Donald Trump says he will announce his choice of Fed chair tomorrow.
DETROIT (AP) — Ford, Honda, Nissan, Toyota and Volkswagen have all reported sales gains for October, defying expectations that buyers would pull back and that fewer people than expected would replace hurricane-damaged vehicles. Fiat Chrysler and General Motors reported declines. Most automakers are posting their monthly sales numbers today.
NEW YORK (AP) — Hotel operator Hilton will pay $700,000 to settle an investigation into two separate data breaches that exposed more than 350,000 credit card numbers. The New York attorney general, who conducted an investigation along with his counterpart in Vermont, says one breach began in November 2014 and another in April 2015 but Hilton didn’t tell consumers until November 2015. Hilton spokeswoman Meg Ryan says the company cooperated with law enforcement and took steps to wipe out malware that targeted customers’ card information.
WASHINGTON (AP) — The U.S. Postal Service wants to boost its business this holiday season by offering cheap next-day service with packages delivered on Sundays to your home. Retail giant Walmart says it is considering the Sunday option, which could reshape weekend shopping trips to the mall. The post office says the pilot program allows consumers to place online orders with participating retailers before a cutoff time Saturday. Postal carriers pick up merchandise from local stores for delivery the following day.