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NEW YORK (AP) — Stocks are higher in afternoon trading, with the Dow moving into positive territory for the year despite a mixed batch of economic and corporate news. The bluechip index has gained 90 points, while the Nasdaq composite has added about 40 and the S&P 500 is up more than 12 points. Nearly all of the companies in the S&P have turned in second-quarter results, and S&P Capital IQ says seven out of 10 have reported higher profits than analysts projected. Overall second-quarter earnings are on track to climb 10 percent over last year.
WASHINGTON (AP) — A closely watched indicator of spending habits by U.S. shoppers was essentially flat in July. The Commerce Department says retail sales edged up by a tiny amount compared with June. In a separate report, the department says businesses continued adding to their stockpiles in June. In general, a greater amount of goods on store shelves and warehouses reflects optimism about future demand.
NEW YORK (AP) — Amazon shares are up today after the company introduced a credit-card processing device and mobile app designed to help small business owners accept payments through their smartphones and tablets. The Amazon Local Register includes a card reader that attaches to a smartphone, Kindle or tablet. The move places the largest U.S. e-commerce retailer in competition with Square and other established mobile payment processing systems such as PayPal Here and Intuit's GoPayment.
NEW YORK (AP) — Jaguar Land Rover North America is recalling nearly 41,000 vehicles because the front air bag on the passenger's side might not work properly in a crash. The company will notify owners of the affected cars. The recall involves LR2s from the 2010-2015 model years and Range Rover Evoques from the 2012-2013 model years. Jaguar Land Rover says no deaths or injuries have been reported related to the problem.
TRAVERSE CITY, Mich. (AP) — Kellogg says it's stepping up efforts to reduce carbon emissions in its supply chain as part of a broader initiative to be more environmentally friendly. The cereal maker says it will require key suppliers such as farms and mills to measure and publicly disclose their greenhouse gas emissions and targets for reducing them. It's also strengthening requirements for its own plants. Other planned actions include being more energy-efficient, using less water and sending less waste to landfills.
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