Stocks seek comeback…Consumer prices up…U.K. trade deal
NEW YORK (AP) — Stocks are trying for another comeback on Wall Street, as a tumultuous week of big swings comes to a close. The S&P 500 was up 0.2% in morning trading, but only after an earlier gain of 0.8% vanished completely. Momentum has been lightning-quick to shift on Wall Street recently, and a similar morning gain for the S&P 500 on Thursday gave way to a 1.8% loss for its fourth drop in five days. The Nasdaq composite, which includes many of the superstar tech stocks that have been the focus of the market’s recent selling, was down 0.1%.

WASHINGTON (AP) — U.S. consumer prices rose 0.4% in August as used car prices surged by the largest amount in 51 years. The Labor Department reports that the August increase in the consumer price index reflected some moderation following big gains of 0.6% in both June and July as the pace of energy price gains slowed. However, there were still areas which showed bigger price increases, led by a 5.4% jump in used car prices, the biggest monthly gain since March 1969. New car prices were unchanged in August but analysts predicted prices there likely to rise in coming months, reflecting supply shortages.

LONDON (A) — The U.K. has secured its first major post-Brexit trade deal after signing an agreement with Japan just as discussions with the European Union appeared to be on the verge of collapse. The agreement was reached only in principle and details are thin. The government said the pact will increase commerce with Japan by around $19 billion. Skeptics say no amount of trade deals can mitigate for the losses that may accrue if Britain does not reach a trade agreement with the EU when the current pacts expire at the end of the year.

BERLIN (AP) — Europe’s flight safety authority says the first flight tests for the Boeing 737 Max, which has been grounded worldwide after two deadly crashes, have now been completed. The test flights conducted over the past week by the European Aviation Safety Agency took place in Vancouver, Canada, because of travel restrictions due to the coronavirus and are now complete. The agency says it will now be analyzing the data from the tests.

DETROIT (AP) — For the second time this month, Hyundai is telling some SUV owners to park outdoors because an electrical short in a computer can cause vehicles to catch fire. The Korean automaker is recalling about 180,000 Tucson SUVs in the U.S. from 2019 through 2021 to fix the problem. The company says corrosion can cause a short circuit in defective anti-lock brake circuit boards that can start a fire. Hyundai says it knows of a dozen engine fires from the problem but no injuries.