Hurricane Irma and North Korea Paralyze Wall Street, While Fed's Fischer Resigns
Wall Street held mixed mid-week after a short-lived rebound earlier in the day. North Korea tensions and the approaching Hurricane Irma kept trading nervous. Markets endured a big selloff yesterday.
Federal Reserve Vice Chair Stanley Fischer has announced his retirement, effective mid-October. He cited personal reasons. His term was set to expire next June.
Services activity in August rose, though at a weaker pace than expected. However, the measure remained above 50, a level indicative of expansion, for its 92nd straight month. Business activity, new orders, and employment each increased.
CSX Corp. (CSX) - Get Report lowered its full-year profit guidance range following "operating challenges" in July and August. The railroad operator anticipates full-year earnings growth of 20% to 25%, compared to a previous target at the top-end of that range.
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