Minivan sales hit the brakes as consumers shift toward SUVs

Minivans out of style with consumers

FBN’s Lauren Simonetti on the declining popularity of minivans as consumers shift toward SUV sales.

Minivans, a fixture in American driveways for years, appear to be going out of style as consumers increasingly look to distance themselves from the "soccer-mom" image of the vehicle for the increasingly popular SUVs.

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“[Minivan] sales [plunged] 13 percent over the last two years and then an additional 16 percent through June of this year,” FOX Business' Lauren Simonetti reported, citing data from Wards Intelligence.

On the other hand, SUV sales are on the rise.

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“SUV sales are hot, jumping 20 percent in the first half of this year,” Simonetti said.

EnPro Industries Inc. Q2 adjusted earnings of $1.32 per share

EnPro Industries Inc. (NPO) revealed a profit for its second quarter that climbed from last year.

The company’s profit came in at $23.9 million, or $1.15 per share. This compares with $9.9 million, or $0.47 per share, in last year’s second quarter.

Excluding items, EnPro Industries Inc. reported adjusted earnings of $27.4 million or $1.32 per share for the period.

The company’s revenue for the quarter fell 1.7% to $387.0 million from $393.6 million last year.

EnPro Industries Inc. earnings at a glance:

-Earnings (Q2): $27.4 Mln. vs. $15.4 Mln. last year.
-EPS (Q2): $1.32 vs. $0.72 last year.
-Revenue (Q2): $387.0 Mln vs. $393.6 Mln last year.

Oil Futures Settle Higher

Crude oil prices moved higher on Monday, amid expectations the upcoming U.S.-China trade discussions will help the two countries move closer to agreeing on a near-term deal and on an imminent rate cut by the Federal Reserve.

West Texas Intermediate Crude oil futures for September settled at $56.87 a barrel, up $0.67, or about 1.2%, from previous close.

On Friday, crude oil futures for September ended up $0.18, or about 0.3%, at $56.20 a barrel.

After an emergency meeting with parties to Iran’s 2015 nuclear deal in Vienna on Sunday, Iranian official Abbas Araqchi said, “The atmosphere was constructive. Discussions were good. I cannot say that we resolved everything, I can say there are lots of commitments.”

The Federal Reserve is scheduled to meet on Tuesday and Wednesday to review its monetary policy. The central bank is widely expected to announce a rate cut of 25 basis points. Traders await more information with regard to outlook for future rates.

Traders were also weighing energy demand prospects amid fears of a slowdown after profits earned by China’s industrial firms contracted in June after a brief gain in the previous month.

Data released by the National Bureau of Statistics (NBS) on Saturday showed industrial profits in China fell 3.1% in June from a year earlier to 601.9 billion yuan ($87.5 billion).

Palestinian artist: Israel's separation wall scary racist symbol

An artist from the occupied West Bank believes the wall should be maintained as a symbol of apartheid.

Some paint murals or write messages on Israel’s separation wall to express their opinions.

But others refuse to do so, arguing it should remain an unappealing symbol of apartheid.

Sharing that view is an artist from the occupied West Bank.

Inquiry into alleged coerced hysterectomies begins in India

Inquiry begins in Maharashtra state on doctors allegedly pressuring thousands of women into having hysterectomies.

An inquiry is underway in the western Indian state of Maharashtra after allegations that doctors performed unnecessary operations on thousands of female farmworkers.

The women say they spent hundreds of dollars on operations to remove their reproductive organs on the advice of their doctors.

Al Jazeera’s Elizabeth Puranam reports from the city of Beed.

U.S. Treasury expects to borrow $443 billion in third quarter, up from prior estimate of $160 billion

The U.S. Treasury said Monday it expects to borrow $443 billion in the third quarter, more than double the prior estimate of $160 billion. The revised forecast includes an end-of-quarter cash balance of $350 billion. The department said the higher borrowing estimate "is primarily driven by changes in cash balance assumptions," related to the budget deal reached last week between President Donald Trump and House Democrats. The two sides agreed on a bill that would increase spending and also raise the federal debt ceiling for the next two years. Looking ahead to the fourth quarter, Treasury said it expects to borrow $381 billion in net marketable debt with a cash balance of $410 billion. During the second quarter, Treasury borrowed $40 billion in net marketable debt and ended with a cash balance of $264 billion. This was slightly higher than the Treasury’s estimate of borrowing of $30 billion and a cash balance of $270 billion. Additional financing details related to the Treasury’s quarterly refunding will be released at 8:30 a.m. on Wednesday.

S&P 500, Nasdaq end lower ahead of Fed meeting; Dow notches meager gains

Stock indexes finished mixed on Monday, with declines in the financials and communication-discretionary sector preventing the S&P 500 and Nasdaq from scoring fresh record closes. The Dow Jones Industrial Average DJIA, +0.11% closed 28.90 points, or 0.1%, higher at 27,221, the S&P 500 index SPX, -0.16% finished 4.89 points, or 0.2%, lower at 3,021, while the Nasdaq Composite Index COMP, -0.44% ended the session 0.4% lower at 8,293. Investors were focused on coming earnings, with shares of Beyond Meat Inc. BYND, -5.44% in focus after the meat-alternative company released its second quarterly report as a publicly traded company. Investors are mostly focused on the start of a two-day policy meeting of the Federal Reserve set to kick off on Tuesday.