TV: Global stocks fall...Retail sales, industrial production due...Britain inflation drops
TOKYO (AP) — International stock markets were lower today after China's benchmark suffered a late session sell-off and the Bank of Japan kept its monetary policy unchanged. Investors are looking ahead to a much anticipated U.S. Federal Reserve decision later this week on whether to raise interest rates. Futures point to weakness on Wall Street this morning. Benchmark U.S. crude oil rose above $44 a barrel. The dollar fell against the yen and was nearly flat against the euro.
WASHINGTON (AP) — Several big economic reports are due out this morning. The Commerce Department will release retail sales data for August and business inventories for July. The Federal Reserve will release industrial production for August.
LONDON (AP) — Britain's annual rate of inflation dropped back to zero in August from 0.1 percent in July amid sharp falls in fuel prices. The Office of National Statistic says the drop in consumer price inflation was due to a smaller rise in clothing prices compared with a year ago. Rising prices in soft drinks and furniture partially offset the fall. The low rate will encourage the Bank of England to stay its course and refrain from raising interest rates, as inflation remains well below its target of 2 percent.
BEIJING (AP) — State media report Universal Studios has signed a deal with a Chinese state-owned consortium to build a Hollywood theme park in Beijing to open in 2019. China's Cabinet and national economic planning agency approved the theme park project — 13 years in the making — in September last year. It will be Universal's third theme park in Asia, after Singapore and Osaka, Japan.
DETROIT (AP) — There's no strike talk as contract negotiations between Fiat Chrysler and the United Auto Workers union continue. Both sides extended their current contract on an hour-by-hour basis. FCA CEO Sergio Marchionne canceled plans to attend the Frankfurt International Motor Show in Germany and instead stayed in the U.S., a strong sign that a deal was near.