NEW YORK (AP) — U.S. stock indexes are sliding lower in morning trading, following other global markets today. European stocks fell after Germany reported the biggest monthly drop in industrial production in five years. Asian markets mostly fell after the World Bank trimmed its Asian growth forecast. U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.38 percent.
ALBANY, N.Y. (AP) — New York’s state comptroller says the securities industry in New York City tallied $8.7 billion in profits during the first half of 2014. That’s a 13 percent drop from the same period last year. The drop is a hangover from the 2008 financial crisis. But unlike profits, Comptroller Thomas DiNapoli says bonuses are likely to rise again this year.
WASHINGTON (AP) — U.S. home prices increased in August, yet the pace of these gains continues to slow. That helps improve affordability for would-be buyers. Real estate data provider CoreLogic says prices rose 6.4 percent in August compared to the prior 12 months. That marks a decline from an annual gain of 6.8 percent in July. Prices had risen as much as 12 percent yearly toward the end of last year.
NEW YORK (AP) — It probably won’t cost as much to stay warm this winter because a repeat of the deep freeze that kept much of the nation shivering last winter is so unlikely. The Energy Department’s annual prediction of winter heating costs released today says that Americans won’t have to crank up the heat as much, so they’ll pay less for energy.
WASHINGTON (AP) — The International Monetary Fund has lowered its outlook slightly for global economic growth this year and next, mostly because of weaker expansions in Japan, Latin America and Europe. The global lending organization has a more optimistic view of the U.S. economy, which it expects will grow 2.2 percent this year, up from an earlier forecast of 1.7 percent. Still, the IMF warned that growth in the U.S., Europe and Japan could be sluggish for years unless governments take steps to accelerate it.
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