TOP STORIES
U.S. STOCKS RALLY AMID RECOVERY IN GLOBAL MARKETS
U.S. stocks charged higher for a second straight session amid
signs of strong domestic growth and a rally in Asia and Europe,
marking the latest big move in a tumultuous week for global
markets.
U.S. OIL POSTS BIGGEST RISE ON PERCENTAGE BASIS SINCE 2009
U.S. oil prices soared 10% on Thursday, as a rally in Chinese
and U.S. stocks and better-than-expected U.S. economic data
prompted a rush by traders to bail out of bearish bets that the
market would fall.
GDP NUMBERS REVEAL MOMENTUM UNDERLYING U.S. ECONOMY
Consumer, business and government spending helped propel
better-than-expected U.S. growth in the second quarter.
GOOGLE REBUFFS EUROPEAN UNION ON ANTITRUST CHARGES
Google rebuffed the European Union's demand that it change the
way it ranks online comparison-shopping services in its search
results, setting up a potentially drawn-out legal battle.
PLOSSER SAYS FED SHOULDN'T BE SWAYED BY SHORT-TERM MARKET MOVES
Federal Reserve officials shouldn't be swayed by short-term
gyrations in financial markets when deciding whether to raise
short-term interest rates at their next policy meeting Sept. 16-17,
Charles Plosser, former president of the Federal Reserve Bank of
Philadelphia, said Thursday.
SPRINT TAKES AIM AT AT&T
Sprint said it would give away a free year of wireless service
to DirecTV subscribers who switch to the carrier-a direct attack on
AT&T Inc., which recently completed a $49 billion acquisition
of the satellite TV provider.
UBERCHINA CLOSING IN ON $1 BILLION IN NEW FUNDING
The Chinese affiliate of Uber is close to securing about $1
billion in new funding from investors in the region, part of the
ride-hailing company's rivalry with deep-pocketed Chinese rival
Didi Kuaidi
PENDING HOME SALES INDEX RISES
The National Association of Realtors said its pending home sales
index rose 0.5% in July from the previous month.
TECHNICAL ISSUES HIT ITG'S DARK POOL
Investment Technology Group's brokerage operations and private
trading venue were taken off line around 1 p.m. because of a
technical problem at the data center where it is located, an
executive said.
NLRB RULING PUTS MORE COMPANIES ON THE HOOK FOR TEMPORARY WORKERS
A federal labor ruling released Thursday could put thousands of
companies on the hook for workplace disputes and union-organizing
matters involving temporary and franchise workers.
UKRAINE SECURES DEBT-RELIEF DEAL
Ukraine's government secured a vital debt-relief deal, the
country's finance ministry said, a key step toward unlocking
billions of dollars in emergency financing.
DOLLAR GENERAL EARNINGS EDGE ABOVE EXPECTATIONS
Dollar General second-quarter profit rose 12.3% on higher sales
across all categories as the discounter's low prices continue to
attract more shoppers looking for quick shopping trips.
FDA WARNS CIGARETTE MAKERS ON 'NATURAL' LABELING
The FDA sent warning letters targeting the owners of top-10
cigarettes brands Winston and Natural American Spirit for violating
federal law by marketing the brands as "additive-free" or
"natural."
ICAHN SETS FREEPORT-MCMORAN IN HIS SIGHTS
Activist investor Carl Icahn disclosed a stake in
Freeport-McMoRan Inc. on Thursday, saying shares are undervalued
and that he plans to talk with management.
FOUR KILLED AS TROPICAL STORM ERIKA HITS DOMINICA
Tropical Storm Erika pummeled the eastern Caribbean island of
Dominica, unleashing landslides and killing at least four
people.
J.CREW POSTS LOSS AS SAME-STORE SALES UNRAVEL
J.Crew Group Inc. reported Thursday that it swung to a loss in
the latest quarter, as the retailer continues to struggle with
declining popularity and lower same-store sales.
PBOC USES UNUSUAL TOOL TO TAME YUAN FALL EXPECTATIONS
Intervention by the People's Bank of China caused U.S.
dollar-yuan foreign exchange swaps to fall sharply.
LILLY LUNG-CANCER DRUG STIRS PRICE DEBATE
An experimental Eli Lilly & Co. lung-cancer drug hasn't
reached the market, but some doctors are already weighing in on how
much it should cost-arguing the price should be below average
because the drug extended patient lives by only six to seven weeks
in a clinical trial.
MEXICAN PRESIDENT SHUFFLES CABINET
Mexican President Enrique PeƱ a Nieto has made a limited cabinet
shuffle, replacing the education minister and national security
commissioner, while keeping the finance and interior ministers.
U.S. JOBLESS CLAIMS FALL AS LABOR MARKET REMAINS STRONG
The number of Americans seeking first-time unemployment benefits
fell last week, suggesting the labor market remains healthy.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Heard on the Street
THE CASE FOR A SEPTEMBER FED RATE RISE
Market turmoil has cast doubt on the Fed's September intentions.
But a rate increase remains very much on the table.
Ahead of the Tape
CHEAP FUEL'S BENEFITS ARE A SLOW BURN
Low gasoline prices haven't spurred consumer spending, but the
impact may be felt in coming months.
(END) Dow Jones Newswires
August 27, 2015 17:00 ET (21:00 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.