U.S. Construction Spending Inches Up Less Than Expected In August

N.Y. Fed awards $54.85 billion in overnight repos

NEW YORK (Reuters) – The New York Federal Reserve on Tuesday awarded $54.85 billion to primary dealers at an operation of overnight repurchase agreements in an effort to maintain the federal funds rate within its target range of 1.75%-2.00%.

Tuesday’s amount was smaller than the $63.5 billion in overnight repos the regional central bank awarded on Monday, the New York Fed website showed.

The general collateral repo rate USONRP= was bid at 1.98% at 8:47 a.m. EST, unchanged from prior to the operation.

Widower, 80, died in hammer raid as teen girls arrested, locals claim

Cops questioned the girls on suspicion of murder and they were released on bail until the October 25.

2019 IAAF championships see golden night for African athletes

The women’s 800 metres final produced one of the night’s most dramatic wins for Ugandan Halimah Nakaayi, along with other great performances by African athletes.

    Following reports of poor attendance on previous days, Doha’s Khalifa International Stadium looked quite different on Monday, thanks mainly to the African fans.

    It was a golden night for athletes from African nations at the 2019 IAAF World Athletics Championships as fans thronged the stadium in Qatar’s capital.

    Al Jazeera’s Rahul Pathak reports.

    Dow sinks 150 points after ISM manufacturing report comes in at worst level since financial crisis

    U.S. stocks relinquished firm gains to turn negative Tuesday morning after a closely watched reading on manufacturing in the U.S. came in at its worst level since 2009. The Institute for Supply Management’s manufacturing index dropped to 47.8 in September from 49.1. The Dow Jones Industrial Average DJIA, -0.50% fell 153 points, or 0.6%, to reach 26,759, the S&P 500 index SPX, -0.28% declined 0.4% at 2,964, while the Nasdaq Composite Index COMP, -0.09% fell 0.1% to 7,991. The slowdown in manufacturing reflects a retrenchment in the U.S. and global economies made worse by a trade war with China. Economists surveyed by MarketWatch had forecast the index to total 50.2%. Any reading below 50 indicates deteriorating conditions.

    Indonesia MPs sworn-in after mass protests, arrests

    Indonesians have demonstrated nationwide for the past week against proposed laws that they say would curtail freedoms and cripple efforts to stop corruption.

      In Indonesia, new members of parliament have been sworn-in following a night of further protests and hundreds of arrests.

      Indonesians have demonstrated nationwide for the past week.

      They have been protesting against proposed laws that they say would curtail freedoms and cripple efforts to stop corruption.

      Al Jazeera’s Raheela Mahomed reports from Jakarta.

      U.S. Treasury to sell $85 bln in 4- and 8-week bills

      NEW YORK, Oct 1 (Reuters) – For details of the U.S. Treasury’s auctions of 4-week and 8-week bills next week, see:

      4-week bills

      here

      8-week bills

      here (Washington economics newsroom)

      U.S.-Japan Trade Deal Finalized

      Setting aside speculation that a U.S.-Japan trade deal hit a last-minute snag, Japanese Foreign Minister said an agrement has been reached between the two sides at an hour-long meeting he had with U.S. Trade Representative Robert Lighthizer on the sidelines of the U.N. General Assembly in New York.

      “All the trade negotiations were finished today. I think we’ll have a great ceremony at the Japan-U.S. summit meeting (Wednesday),” Motegi told reporters Tuesday.

      Japanese Prime Minister Shinzo Abe and President Trump are expected to issue a joint statement regarding the finalization of the long-awaited trade deal, Japanese media reported.

      Motegi said the U.S., Japanese governments are not “behind that much from our goal to sign the agreement at the end of September.”

      Trump had announced last week that his Administration has reached an initial trade agreement on tariff barriers and digital trade with Japan.

      Trump did not disclose the details of the deal, but Japan is expected to reduce or abolish tariffs on beef, pork and wheat imported from the United States, and cut tariffs on U.S. wine.

      The United States will reportedly make a commitment not to hike tariffs on Japanese cars or introduce quotas to the number of cars imported to the country in return for Tokyo allowing increased access for American agricultural products.

      Abe and Trump had hinted at the possibility of signing a trade deal after the two sides reached an agreement on its core elements on the sidelines of the G7 Summit in Tokyo last month.

      RCMP finds home for adorable pup left on Manitoba detachment doorstep

      RCMP in Elphinstone, Man., had an unexpected visitor recently, when a starving puppy was dropped off on the Westman-area detachment’s doorstep.

      Thankfully, an animal lover in the RCMP’s 911 call centre heard about the little guy, and after officers fed him and took him to the vet, he was adopted into a new home.

      Police said although this story has a happy ending, it’s a crime to abandon an animal.

      U.S. Construction Spending Inches Up Less Than Expected In August

      Construction spending in the U.S. crept up by much less than expected in the month of August, according to a report released by the Commerce Department on Tuesday.

      The report said construction spending inched up by 0.1 percent to an annual rate of $1.287 trillion in August after coming in nearly unchanged at a revised July estimate of $1.286 trillion.

      Economists had expected construction spending to climb by 0.4 percent compared to the 0.1 percent uptick originally reported for the previous month.

      The modest increase in construction spending came as spending on public construction climbed by 0.4 percent to a rate of $332.3 billion in August from $330.8 billion in July.

      Spending on educational construction surged up by 1.4 percent to $77.0 billion, while spending on highway construction rose by 0.6 percent to $98.9 billion.

      Meanwhile, the report said the annual rate of spending on private construction in September was nearly unchanged from the previous month at $955.0 billion.

      Spending on residential construction increased by 0.9 percent to a rate of $507.2 billion, but the jump was offset by a 1.0 percent slump in spending on non-residential construction to a rate of $447.9 billion.

      Compared to the same month a year ago, construction spending in August was down by 1.9 percent, with a 4.0 percent nosedive in spending on private construction more than offsetting a 4.6 percent spike in spending on public construction.