Business News


Stocks traded mixed yesterday as investors closely monitored developments in Washington, D.C., as lawmakers rush to try and avert a government shutdown and advance a bevy of new measures.

The increase in flying and rebound at Boeing gave a boost to durable-goods orders in August, but ongoing supply shortages held back automakers and remain a drag on the nation’s economic recovery.  Orders for durable goods rose 1.8% last month and business investment also rose for the sixth month in a row. Economists polled by the Wall Street Journal had forecast a 0.6% increase.

Facebook is putting a hold on the development of a kids’ version of Instagram, geared toward children under 13, to address concerns that have been raised about the vulnerability of younger users.  The announcement follows an investigative series by The Wall Street Journal which reported that Facebook was aware that the use of Instagram by some teenage girls led to mental health issues and anxiety.

At least three Federal Reserve officials said they are ready to pull back on stimulus even though they don’t see a threat from inflation.  They stressed, however, that the move, known as tapering, isn’t providing any signal about looming interest rate hikes.

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