Financial News

Financial News:

Stocks higher…Home construction rebounds…J&J booster

NEW YORK (AP) – Stocks are modestly higher on Wall Street, making up some of the ground they lost in a sharp pullback a day earlier. The S&P 500 was up 0.4% in the early going, and the Dow Jones Industrial Average and the Nasdaq were also up similar amounts. Technology companies were doing particularly well, a day after leading the market lower. Uber jumped 7.6% after raising its outlook. European markets were also higher, and Asian markets mostly rose.

WASHINGTON (AP) – U.S. home construction rebounded 3.9% in August after a July decline with the strength coming in apartment construction. The Commerce Department says the August increase left home construction at a seasonally adjusted annual rate of 1.62 million units, 17.4% above the pace of a year ago. The strength came in a 21.6% jump in construction of apartment units which offset a 2.8% fall in construction starts of single-family homes.

PARIS (AP) – A leading international economic watchdog is urging developed countries to put more effort into providing low-income countries with coronavirus vaccines in order to ensure that the global recovery from the pandemic is more even. In its latest assessment of the state of the global economy, the Paris-based Organization for Economic Cooperation and Development says the global recovery from the shock of the pandemic is faster than it anticipated a year ago.

LONDON (AP) – Johnson & Johnson says a booster dose to its one-shot coronavirus vaccine provides a strong immune response months after people receive a first dose. The company says an extra dose – given two months or six months after the initial shot – revved up protection. The results haven’t yet been published or vetted by other scientists.

UNDATED (AP) – McDonald’s plans to “drastically” reduce the plastic in its Happy Meal toys worldwide by 2025. The burger giant says it’s working with toy companies to develop new ideas, such as three-dimensional cardboard superheroes kids can build or board games with plant-based or recycled game pieces. McDonald’s says it’s also exploring using recycled plastic toys to make new restaurant trays.