Toys 'R' Us, has filed for Chapter 11 bankruptcy protection. They have 1,600 stores and 64,000 employees. Stores and online sites remain open. The company has debt from a $6.6 billion buyout in 2005 by private equity firms. It's the second-largest retail bankruptcy, trailing the filing in 2002 by Kmart. (Reuters)
The Commerce Department says housing starts slipped 0.8% in August. Single-family home permits fell 1.5%, while permits for the construction of multi-family homes soared 19.6%.
The Labor Department says import prices rose 0.6% in August. In the last 12 months import prices have surged 2.1%. The report also showed export prices rose 0.6% in August. They have increased 2.3% year-on-year.
FedEx will raise shipping rates in January. FedEx Express, Ground and Home Delivery will go up about 5%. The One Rate shipping, which offers a simple flat price, will increase 3.5% (CNBC)
Gun stocks rose yesterday as President Trump prepares to ease rules for overseas sales of US guns. Strum Ruger stock was up 13% and American Outdoors was up 10%. (Yahoo Finance)
The S&P 500 is up 1 and the NASDAQ is flat. The MSCI international index is higher.
Oil is up 57 cents at $50.05 a barrel.
Gold is up $7 at $1318 a Troy ounce.