NEW YORK (AP) — The stock market appears headed for a solid weekly gain with the main indexes higher in morning trading. The Dow came into the day up 1 percent for the week, while the S&P 500 had gained 1.2 percent and the Nasdaq composite was up nearly 2 percent.
WASHINGTON (AP) — U.S. factory output rose again last month, led by a jump in the production of motor vehicles, furniture, textiles and metals. The Federal Reserve reports that manufacturing production rose 1 percent in July. It was the sixth straight monthly increase. Overall industrial production, which includes mining and utilities, rose 0.4 percent in July, as production at utilities dropped.
WASHINGTON (AP) — Inflation at the wholesale level remains below the Federal Reserve’s target. The Labor Department says the producer price index rose 0.1 percent in July, with falling gasoline costs keeping overall prices in check. Wholesale gas prices fell 2.1 percent, after a 6.4 percent jump in June. In the past year, producer prices have risen just 1.7 percent.
NEW YORK (AP) — Unsecured general creditors of Lehman Brothers will get $4.6 billion in an initial distribution next month. Lehman’s bankruptcy in September of 2008 marked the start of the global financial crisis and was a major catalyst of the financial meltdown. Unsecured general creditors had to wait for customer claims to be satisfied first, as well as the claims of secured and priority general creditors.
EDEN PRAIRIE, Minn. (AP) — The Supervalu grocery chain says it may have suffered a data breach at stores in as many as five states. Hackers accessed a network that processes store transactions, and Supervalu says account numbers, expiration dates, cardholders’ names and other information may have been stolen. Grocery stores — as well as some stand-alone liquor shops — in Minnesota, Virginia, Illinois, Maryland and Missouri may have been affected between June 22 and July 17.
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