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NEW YORK (AP) — Stocks are on pace for a seventh consecutive day of losses, as Wall Street worries about the presidential election, interest rates and falling oil prices. Earnings are also getting traders' attention. Several companies fell after posting disappointing results.
WASHINGTON (AP) — The Federal Reserve is leaving interest rates unchanged for now, but it's hinting that it will raise rates at an upcoming meeting. The Fed says the case for rate hike has "continued to strengthen" but that officials decided to wait for further evidence of progress toward its objectives. Today's statement is similar to the one the Fed issued in September, noting that the labor market has continued to strengthen and economic activity has picked up. Analysts and financial markets anticipate a rate hike in December.
DETROIT (AP) — Ford Motor Co. says its U.S. sales fell 12 percent in October, hampered by a slowing market and a safety recall. Ford sold 188,813 vehicles last month. Its car sales plummeted 27.5 percent, while its SUV sales were down 9 percent. F-Series pickup sales were flat compared to last October. Ford paused Transit Connect commercial van sales to fix faulty door latches, which also hurt sales. Ford cut production at four North American plants last month because of falling U.S. demand for new vehicles.
DETROIT (AP) — The U.S. government's top auto safety regulator says Honda must do more to make sure 300,000 cars with dangerous Takata air bag inflators are repaired. Mark Rosekind (ROHZ'-kynd), head of the National Highway Traffic Safety Administration, says the agency has talked to Honda about hiring private investigators to track down owners or even taking service trucks into neighborhoods to repair cars on the spot. Tests show that inflators in 313,000 older Hondas and Acuras have up to a 50 percent chance of rupturing in a crash and shooting shrapnel at the driver. But only 13,000 have been fixed since June.
HELENA, Ala. (AP) — A fire is still burning at a gasoline pipeline in Alabama, nearly two days after an explosion killed a worker and injured five others. Officials with Colonial Pipeline Co. say the flame at the accident site southwest of Birmingham, Alabama, is significantly smaller than it had been. The pipeline supplies gasoline to the Southeast. Officials say they hope to repair it as early as this weekend to avoid a possible gas crunch, but repairs can't begin until the fire is out and the area cools down.
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