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The U.S. Federal Reserve's favored measure of inflation increased last month at the pace expected by Wall Street for the first time this year.

China will exempt Tesla Inc's electric vehicles from its purchase tax, the Ministry of Industry and Information Technology (MIIT) said on Friday, a concession made amidst trade tensions with the United States.

Oil futures fell on Friday, with U.S. crude down nearly 4% ahead of a hurricane near the Florida coast that could dampen demand, but prices were still headed for the biggest weekly increase since early July, boosted by an easing of U.S.-China trade rhetoric.

United Airlines Holdings said on Friday it is extending the cancellation of Boeing 737 MAX flights by another month until Dec. 19 as the jets remain grounded worldwide following two fatal crashes in Indonesia and Ethiopia in the past year.

Homeownership among millenials is lower than their parents and grandparents.

Gains on Wall Street petered out on Friday, with the Nasdaq index turning negative, as an upbeat mood fueled by signs of upcoming U.S.-China trade talks and solid domestic consumer spending data, waned ahead of a long Labor day weekend.

Hopes of easing trade tensions between China and the United States helped a gauge of global stocks edge higher on Friday despite weakness on Wall Street, though caution over pending U.S. tariffs on Chinese goods put the yuan on track for its biggest monthly decline in 25 years.

Hans Rausing, the billionaire Swedish industrialist who helped turn Tetra Pak into one of the world's biggest food packaging companies, has died aged 93, his family said in a statement.

Alphabet Inc's Google will pay in the range of $150 million to $200 million to settle the Federal Trade Commission's investigation into YouTube's alleged violation of a certain children's privacy law, Politico reported on Friday.

Chinese and U.S. trade negotiating teams are maintaining effective communication, China's Foreign Ministry said on Friday, less than 48 hours before U.S. tariffs kick in on an additional $125 billion in Chinese goods.

Bruce Gendelman wanted a mountainside retreat when he bought 12 acres in Aspen, Colorado. But forest fires that have torched nearby land in recent years left him concerned.

OPEC oil output has risen in August for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by top exporter Saudi Arabia and losses caused by U.S. sanctions on Iran, a Reuters survey found.

China will exempt Tesla Inc's electric vehicles from its purchase tax, the Ministry of Industry and Information Technology (MIIT) said on its website on Friday.

Malaysian budget carrier AirAsia Group Bhd scaled back plans to order the Airbus A330neo wide-body passenger jet by nearly two thirds on Friday, switching its focus instead to a long-range new version of the popular A321 series.

U.S. stocks rose on Friday as an easing of trade tensions between the United States and China, and data showing solid domestic consumer spending abated concerns that major economies were on the brink of a recession.