Inventories Going Down … Hurricane Expense Request … Legal Offer ::


Inventories fell this afternoon as traders return from Labor Day weekend. Industrial and healthcare stocks were the biggest drag in the market. The S&P 500 lost 0.2%. The Dow Jones Industrial Average fell 0.5% and the tech-rich Nasdaq rose 0.2%. The yield on 10-year Treasuries climbed to 1.37%, which helped push up bank stocks like Bank of America and JPMorgan Chase.

The White House is asking Congress to approve additional spending of $ 24 billion to manage the costs of Hurricane Ida and other natural disasters. It is also seeking $ 6.4 billion for the resettlement of evacuees from Afghanistan to help with transportation, government treatment and public health examinations. Shalanda Young, Acting Director of the Bureau of Management and Budget, outlined the requests for interim funding in a blog post.

The company overseeing the response to a large oil spill caused by Hurricane Ida said a containment dome had been placed over a broken undersea pipeline. Houston-based Talos Energy said in a statement that the action had stemmed the flow of oil into the Gulf of Mexico. The company said its oil spill response contractor installed the dome on Monday evening.

GENEVA (AP – The head of a leading association of pharmaceutical manufacturers says they are now producing doses of coronavirus vaccine at a rate of around 1.5 billion per month, so rich governments who have accumulated stocks of doses “no longer need to do so.” The International Federation of Pharmaceutical Manufacturers and Associations says increased production can help offset gaping inequalities in access to COVID- doses 19 that put developing countries far behind in immunization rates.

El Salvador became the first country to adopt Bitcoin as legal tender, but the rollout stumbled in its early hours. President Nayib Bukele said the digital wallet used for transactions was not working. For part of the morning, the President of El Salvador became the tech support for a nation entering the cryptocurrency world. Bukele organized his Twitter account to explain to users what was going on. Bukele explained that the Chivo digital wallet was disconnected while the server capacity was increased.

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