Marketwatch reports the Chairman of the Securities and Exchange Commission decided to freeze his staff’s recommendation of the sale of the Chicago Stock Exchange to a Chinese-led investor group after talking with the White House. Chairman Jay Clayton has been under pressure from lawmakers from both parties to block the deal. He put a hold on his staff’s plan to approve the $20 million sale on Aug. 9. The halt was a rare case of commissioners blocking staff’s recommendation. Clayton is a Trump appointee who took over the independent agency in May.
The Department of Commerce reports consumer spending rose just 0.1% in August after a 0.3% gain in July. That matched the expectations. But adjusted for inflation, spending fell for the first time since January. Personal income climbed 0.2%, above the 0.1% forecast. The savings rate was flat at 3.6%. The personal consumption expenditures index rose 0.1%, and the “core” rate that strips out food and energy edged up 0.1%. Neither index is up on an annual basis.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
