Wall Street trying to stay positive … US retail sales up moderately in August … Lawmakers asking 4 big tech companies for documents in probe
NEW YORK (AP) – Stocks trying to stay in positive territory this morning on Wall Street. At 10:30 a.m. Eastern Time, the Dow Jones industrials was up 76 points, to 27,259. The index has risen for seven consecutive days. The S&P 500 was up 5 points, to 3,014, and is a little more than 10 points shy of its all-time high. But the Nasdaq, which has a heavy weighting of tech stocks, was up only a fraction of a point, to 8,195. Bonds continued their recent sell-off. The yield on the 10-year Treasury, which moves inversely to the price, rose to 1.83%.
WASHINGTON (AP) – U.S. retail sales rose moderately in August, driven higher by a jump in auto buying and healthy online sales. But there were also signs that consumers have become more cautious. The Commerce Department says retail sales increased 0.4% last month, down from a healthy 0.8% in July. Excluding autos, sales were unchanged for the first time since February.
WASHINGTON (AP) – House lawmakers investigating the market dominance of Big Tech are asking Google, Facebook, Amazon and Apple for a broad range of documents including internal communications. Letters went out to the four companies today from the leaders of the House Judiciary Committee and its subcommittee on antitrust, which has been conducting a sweeping antitrust investigation of the companies and their impact on competition and consumers.
LONDON (AP) – British Prime Minister Boris Johnson and European Commission President Jean-Claude Juncker (zhahn-KLOHD’ YUN’-kur) will hold face-to-face talks next week in a bid to break the Brexit impasse. European and British officials say the meeting will take place Monday in Luxembourg. It comes as lower-level Brexit negotiations have produced few signs of progress as the Oct. 31 deadline for Britain’s departure from the European Union nears.
UNDATED (AP) – Ford is recalling more than 300,000 of its 2017 Ford Explorer vehicles because of a sharp seat frame edge. The automaker says there’ve been 31 reports of hand injuries. Ford Motor Co. says users could come in contact with the sharp edges when reaching between the power front seat and center console. The vehicles were made at a Chicago plant from Feb. 13, 2016 to Oct. 25, 2017. It is recalling 311,907 vehicles in the United States and federal territories, 23,380 in Canada and 3,045 in Mexico.