Bhinneka News Online: Reuters Daily Investor Update: August 1, 2017

Tuesday, 1 August 2017

Reuters Daily Investor Update: August 1, 2017

Click to View in Browser

Tuesday, August 1, 2017

U.S. spending, factory data point to moderate economic growth

WASHINGTON (Reuters) - A gauge of U.S. factory activity slid from a near three-year high in July amid a slowdown in new orders and consumer spending barely rose in the prior month, setting the stage for a moderate economic expansion in the third quarter.

Dow ascends to record high and nears 22,000

(Reuters) - The Dow Jones Industrial Average racked up a fifth straight record high on Tuesday and neared the 22,000 mark, powered by Goldman Sachs, JPMorgan Chase and other banks.

U.S. auto sales fall in July as carmakers slash rental fleet sales

DETROIT (Reuters) - U.S. carmakers said on Tuesday they continued to slash low-margin sales to daily rental fleets in July as the overall pace of U.S. car and light truck sales fell for the fifth straight month.

Stocks climb on global growth; dollar bounces from 15-month low

NEW YORK (Reuters) - A gauge of world stocks advanced on Tuesday after scoring its longest monthly winning streak in over a decade on signs of an improving global economy and solid corporate earnings, while the U.S. dollar bounced after touching 15-month lows.

CSX chief executive attributes service disruptions to employee push-back

SEATTLE (Reuters) - CSX Corp Chief Executive Hunter Harrison has apologized to customers for service disruptions that he attributed to some railroad employees resisting changes at the company, according to an email seen by Reuters.

GM Canada sales up 22 percent in July, Fiat Chrysler slips

(Reuters) - General Motors Co said on Tuesday it sold 25,852 vehicles in July in Canada, up 22 percent from a year earlier - a striking contrast to the company's performance in its home market.

U.S. vehicle sales in July fall to annual rate of 16.7 million

(Reuters) - U.S. vehicle sales in July fell to a seasonably adjusted annual rate of 16.69 million, according to Wards Auto.

Investor Einhorn sees cash burn at Tesla, sticks with short bet

BOSTON (Reuters) - Billionaire investor David Einhorn, who has been hurt by his bet against Tesla Inc, said on Tuesday that the electric car maker is over-valued and that the company is not adequately capitalized.

Bayer offers concessions to EU Commission for Monsanto deal

BRUSSELS (Reuters) - The European Commission said Germany's Bayer had submitted commitments aimed at easing competition concerns over its $66 billion takeover of U.S. agrochemicals group Monsanto , suggesting the company aims to avoid a lengthy review.

Discovery gains female advertising audience with Scripps deal

NEW YORK (Reuters) - Discovery Communications Inc, whose nature and science TV channels attract mostly male viewers, will reach more women and diversify its advertising revenue through its acquisition of Scripps Networks Interactive Inc, advertisers said on Tuesday.