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NEW YORK (AP) — Stocks are ticking lower this morning as investors begin another big week of company earnings and look ahead to a policy meeting of the Federal Reserve. At 10:36 a.m. Eastern Time, the S&P 500 dipped five points, to 2,070. The Dow Jones industrial average was down 12 points, to 17,634. And the Nasdaq was down five points, at 5,027.
WASHINGTON (AP) — Sales of new homes plunged sharply in September to the slowest pace in 10 months, as higher prices and slower overall economic growth weigh on the housing market. The Commerce Department says new-home sales fell 11.5 percent last month to a seasonally adjusted annual rate of 468,000, ending a two-month streak of accelerating sales. Purchases of new homes slid in the Midwest, South and West. It dropped a sharp 61.8 percent in the Northeast in September.
PARIS (AP) — The meat industry is responding to a report by the World Health Organization that puts processed meat like ham and sausage in the same category as cigarettes when it comes to causing cancer. The North American Meat Institute says, "cancer is a complex disease not caused by single foods" and it stresses the importance of lifestyle and environmental factors. The WHO also says all red meat is probably cancer-causing, and says it's more dangerous when cooked at high temperatures.
UNDATED (AP) — With online shopping growing, FedEx is bracing for a record volumes this holiday season. The delivery company predicts that shipments from Black Friday through Christmas Eve will rise 12.4 percent over last year to 317 million pieces. FedEx says the busiest shipping days will be the Monday after Thanksgiving and the first two Mondays in December, and it's hiring more than 55,000 seasonal workers and investing in automation and expansion.
NEW YORK (AP) — Tire and auto service company Bridgestone is buying auto parts and repair company Pep Boys in a deal that will help it gain a more dominant position. The companies value the deal at $835 million. It's expected to close in the beginning of 2016 and will add 800 locations to Bridgestone's nationwide network of 2,200 tire and automotive service centers.
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