Stocks gain…Home construction rebounds…Global poverty at record low
NEW YORK (AP) – Stocks are higher on Wall Street as the market builds on a solid gain from the day before, which came despite the latest ramp-up in trade tensions between the U.S. and China. Banks and energy companies are leading the gains, while safe-play stocks like utilities and real estate companies lagged the market. JPMorgan Chase rose 1 percent, and Halliburton rose 1.9 percent.
WASHINGTON (AP) – U.S. home construction rebounded in August at the fastest pace in seven months, a hopeful sign for a housing industry that has been struggling with rising lumber costs. The Commerce Department says housing starts increased 9.2 percent in August to a seasonally adjusted annual rate of 1.28 million units. Housing starts had declined 0.3 percent in July and 11.4 percent in June.
FORT LAUDERDALE, Fla. (AP) – Mike Jackson is stepping down after almost two decades leading AutoNation, the nation’s largest dealership chain. Jackson, 69, steered AutoNation through the economic crisis and shares have increased fourfold since he took over in 1999, though he will relinquish his role as CEO next year with auto sales waning across the industry.
WASHINGTON (AP) – Global poverty has fallen to a record low. The World Bank says 10 percent of the world’s population lived on less than $1.90 a day in 2015, down from 11.2 percent in 2013. Poverty dropped everywhere but the Middle East and North Africa.
LONDON (AP) – A top European Union official says key parts of Britain’s offer to conclude Brexit talks fall short of expectations and need to be improved, just six months before the country leaves the bloc. The key stumbling block to a Brexit deal is an agreement that would keep goods, services and people flowing between EU member Ireland and Northern Ireland in the U.K.