Top News: Top News of the Day from Global Markets – Tuesday at 3:00 PM ET

U.S. manufacturers still mired in slump. Fed rate cuts to help, ISM says, but only after the election.

A key gauge of output at U.S. factories was negative for a fifth straight month, signaling that the economy’s manufacturing sector remains in a deep recession that could last until the presidential election.

 
S&P 500, Nasdaq Slide; Oil Prices Tumble

Stocks fell and are on track for their worst day since Aug. 5, when fears of a slowdown in economic growth sparked global panic across markets.

 
Construction spending posts bigger-than-expected drop in July

Construction spending fell 0.3% in July, the Commerce Department said Tuesday.

 
Oil Erases Year's Gains on Demand Concerns, Looming OPEC+ Output Increase

Oil prices fell on concerns about the outlook for global demand and expectations that OPEC and its allies will deliver withheld barrels to the market.

 
Americans Are Really, Really Bullish on Stocks

The stock market’s surge has created millionaires and helped many Americans skyrocket in net worth. Many are betting the rally has room to run.

 
Bank of Canada Poised to Cut Rates for Third Straight Time

Lower inflation, a weak job market and weak economic growth leave banks with no choice but to cut interest rates, economists say. Two more cuts are expected later this year.

 
China Needs More Factory Robots. Can It Build Its Own?

Domestic production of industrial robots is growing, but Japanese and European manufacturers still play a role.

 
Deadliest Russian Missile Strike This Year Highlights Ukraine's Air-Defense Shortage

Ukrainian President Volodymyr Zelensky has called for an increase in the number of missile systems and fighter jets to protect the country from Russian attacks.

 
Europe's Top Court Rebukes Competition Regulator, Curbing Powers

The EU has sought to expand its oversight to focus on so-called killer takeovers. Business groups have complained that the bloc’s approach creates new uncertainty for companies.

 
This Once Hot Real-Estate Type Is Now Being Offered as Office Space

Developers thought the surge in demand for life sciences real estate during the pandemic would be sustainable, but they were wrong.

(END) Dow Jones Newswires

September 3, 2024, 15:15 ET (19:15 GMT)