- The U.S. economy is likely heading for a soft-landing rather than a full-blown recession as slowdowns in the housing and job markets constrain consumer spending, the National Retail Federation trade group said on Tuesday.
- The Renewable Fuels Association said the U.S. consumed 360,000 barrels ar day of ethanol in July, more than the 316,000 daily barrels that were produced.
- December gold tumbled $21.80 to end at $581.50, the lowest close in three months, in sympathy with the lower price of crude oil.
- The European Aug unemployment rate rose to 7.9% from 7.8% in July, which was the first rise in the unemployment rate in nearly 3 years.
- Retail sales in Australia were up 0.3% in August, better than expected.
- Japan's Finance Minister Kohi Omi said that, "Judging from the current state of the economy, we can declare Japan's deflation is over."
- Oil tumbled more than two dollars on Tuesday to below $59 a barrel, sinking to the lowest level since February and prompting OPEC's president to call on the exporter group to deepen supply cuts
- The yen dropped against the dollar and Euro after North Korea said it will conduct a nuclear test.
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