The Producer Price Index (PPI) for final demand declined 0.5% in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices were unchanged in August and rose 0.2% in July. On an unadjusted basis, the final demand index fell 1.1% for the 12 months ended in September, the eighth straight 12-month decline.

The U.S. Census Bureau announced that U.S. total business end-of-month inventories for August were $1,811.0 billion, virtually unchanged from last month. U.S. total business sales were $1,320.5 billion, down 0.6% from last month.

Advance estimates of U.S. retail and food services sales for September, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $447.7 billion, an increase of 0.1% from the previous month, and 2.4% above September 2014. Total sales for the July 2015 through September 2015 period were up 2.3% from the same period a year ago. Retail trade sales were virtually unchanged from August, and 1.7% above last year. Motor vehicle and parts dealers were up 8.8% from last year and food services and drinking places were up 7.9% from September 2014.

Though the Fed reported steady consumer spending and an improving housing market following modest U.S. economic growth late this summer, stocks finished down Wednesday, according to the Associated Press. The Dow dropped 157.14 points (0.92%) to reach 16,924.75, the NASDAQ fell 13.76 points (0.29%) to 4,782.85, and the S&P 500 lost 9.45 points (0.47%) to finish at 1,994.24. The Russell 2000 decreased 10.87 points (0.95%) to 1,136.97, and the Wilshire 5000 fell 121.47 points (0.58%) to 20,880.10.

On the NYSE, 3.2 billion shares traded, with 3 declining issues for every 2 advancing issues. On the NASDAQ, 2.7 billion shares changed hands, with nearly twice as many decliners as advancers.

The price of the 10-year Treasury note rose 19/32, decreasing its yield to 1.975%. The price of the 30-year Treasury bond increased 32/32, bringing its yield down to 2.836%.

ON THIS DATE:  In 1883, the U.S. Supreme Court struck down part of the Civil Rights Act of 1875. It allowed for individuals and corporations to discriminate based on race. In 1939, New York Municipal Airport was dedicated. The name was later changed to La Guardia Airport. In 1951, “I Love Lucy” premiered on CBS-TV. In 1966, U.S. President Lyndon B. Johnson signed a bill creating the Department of Transportation. In 1989, Wayne Gretzky, while playing for the Los Angeles Kings, surpassed Gordie Howe’s NHL scoring record of 1,850 career points. In 1993, South Africa’s President F.W. de Klerk and African National Congress President Nelson Mandela were named winners of the Nobel Peace Prize for their efforts to end the apartheid system in South Africa. In 1997, British Royal Air Force pilot Andy Green broke the land-speed record by driving a jet-powered car faster than the speed of sound. In 1997, The Cassini-Huygens mission was launched from Cape Canaveral, Florida. On January 14, 2005, a probe sent back pictures of Saturn’s moon Titan during and after landing. In 2001, NASA’s Galileo spacecraft passed within 112 miles of Jupiter’s moon Io.