Financial News

Tuesday, October 16th
October 15, 2018
AP-NC Newswatch
October 15, 2018
Financial News

 

 

 

 

Wall Street lower … US retail sales gain a weak 0.1 percent in August … US eyes military bases for coal, gas exports

 

NEW YORK (AP) – U.S. stocks are lower today as technology companies continue to slump and the Commerce Department said retail sales remained sluggish in September. The S&P 500 and other major U.S. indexes are coming off their worst week since late March as investors worry about rising interest rates and trade tensions between the U.S. and China. At 10:31 a.m. Eastern time, the S&P 500 was down 9 points, to 2,757. The Dow dropped 11 points, to 25,328. And the Nasdaq dropped 68 points, to 7,429.

 

WASHINGTON (AP) – U.S. consumer spending edged up a slight 0.1 percent in September, a disappointing performance as a rebound in auto sales was offset by weakness in a number of other areas. The Commerce Department says the scant gain in September followed an equally meager 0.1 percent increase in August.

 

BILLINGS, Mont. (AP) – The Trump administration is considering using West Coast military bases or other federal properties as transit points for shipments of U.S. coal and natural gas to Asia. U.S. Interior Secretary Ryan Zinke tells The Associated Press it’s a matter of national security to ensure allies have access to affordable fuel supplies. It’s also tantamount to an end-run around West Coast officials who have rejected private-sector efforts to build new coal ports in their states.

 

WASHINGTON (AP) – The Supreme Court is leaving in place a decision that required paint companies to fund the removal of lead paint from California homes. The Supreme Court on Monday said it wouldn’t take up the issue. Courts previously ruled in favor of 10 California cities and counties that argued ConAgra, NL Industries and Sherwin-Williams knowingly endangered public health by advertising and selling lead paint, but the companies noted lead paint was lawful at the time.

 

LOUISVILLE, Ky. (AP) – Some items given to Colonel Harland Sanders’ driver and friend are being auctioned next month, including one of the Kentucky Fried Chicken founder’s white suits and matching Stetson hat. Heritage Auctions of Dallas says Dick Miller spent the last decade of Sanders’ life working for him. Miller stayed on after Sanders’ death in 1980, helping Sanders’ wife, Claudia, and working for the company. He said he wants to sell his memorabilia so someone who appreciates the items will end up with them.

 

 

AP-WF-10-15-18 1438GMT