TOP STORIES 
 
U.S. STOCKS RALLY AMID RECOVERY IN GLOBAL MARKETS 

U.S. stocks charged higher for a second straight session amid signs of strong domestic growth and a rally in Asia and Europe, marking the latest big move in a tumultuous week for global markets.

U.S. OIL POSTS BIGGEST RISE ON PERCENTAGE BASIS SINCE 2009 

U.S. oil prices soared 10% on Thursday, as a rally in Chinese and U.S. stocks and better-than-expected U.S. economic data prompted a rush by traders to bail out of bearish bets that the market would fall.

GDP NUMBERS REVEAL MOMENTUM UNDERLYING U.S. ECONOMY 

Consumer, business and government spending helped propel better-than-expected U.S. growth in the second quarter.

GOOGLE REBUFFS EUROPEAN UNION ON ANTITRUST CHARGES 

Google rebuffed the European Union's demand that it change the way it ranks online comparison-shopping services in its search results, setting up a potentially drawn-out legal battle.

PLOSSER SAYS FED SHOULDN'T BE SWAYED BY SHORT-TERM MARKET MOVES 

Federal Reserve officials shouldn't be swayed by short-term gyrations in financial markets when deciding whether to raise short-term interest rates at their next policy meeting Sept. 16-17, Charles Plosser, former president of the Federal Reserve Bank of Philadelphia, said Thursday.

SPRINT TAKES AIM AT AT&T 

Sprint said it would give away a free year of wireless service to DirecTV subscribers who switch to the carrier-a direct attack on AT&T Inc., which recently completed a $49 billion acquisition of the satellite TV provider.

UBERCHINA CLOSING IN ON $1 BILLION IN NEW FUNDING 

The Chinese affiliate of Uber is close to securing about $1 billion in new funding from investors in the region, part of the ride-hailing company's rivalry with deep-pocketed Chinese rival Didi Kuaidi

PENDING HOME SALES INDEX RISES 

The National Association of Realtors said its pending home sales index rose 0.5% in July from the previous month.

TECHNICAL ISSUES HIT ITG'S DARK POOL 

Investment Technology Group's brokerage operations and private trading venue were taken off line around 1 p.m. because of a technical problem at the data center where it is located, an executive said.

NLRB RULING PUTS MORE COMPANIES ON THE HOOK FOR TEMPORARY WORKERS 

A federal labor ruling released Thursday could put thousands of companies on the hook for workplace disputes and union-organizing matters involving temporary and franchise workers.

UKRAINE SECURES DEBT-RELIEF DEAL 

Ukraine's government secured a vital debt-relief deal, the country's finance ministry said, a key step toward unlocking billions of dollars in emergency financing.

DOLLAR GENERAL EARNINGS EDGE ABOVE EXPECTATIONS 

Dollar General second-quarter profit rose 12.3% on higher sales across all categories as the discounter's low prices continue to attract more shoppers looking for quick shopping trips.

FDA WARNS CIGARETTE MAKERS ON 'NATURAL' LABELING 

The FDA sent warning letters targeting the owners of top-10 cigarettes brands Winston and Natural American Spirit for violating federal law by marketing the brands as "additive-free" or "natural."

ICAHN SETS FREEPORT-MCMORAN IN HIS SIGHTS 

Activist investor Carl Icahn disclosed a stake in Freeport-McMoRan Inc. on Thursday, saying shares are undervalued and that he plans to talk with management.

FOUR KILLED AS TROPICAL STORM ERIKA HITS DOMINICA 

Tropical Storm Erika pummeled the eastern Caribbean island of Dominica, unleashing landslides and killing at least four people.

J.CREW POSTS LOSS AS SAME-STORE SALES UNRAVEL 

J.Crew Group Inc. reported Thursday that it swung to a loss in the latest quarter, as the retailer continues to struggle with declining popularity and lower same-store sales.

PBOC USES UNUSUAL TOOL TO TAME YUAN FALL EXPECTATIONS 

Intervention by the People's Bank of China caused U.S. dollar-yuan foreign exchange swaps to fall sharply.

LILLY LUNG-CANCER DRUG STIRS PRICE DEBATE 

An experimental Eli Lilly & Co. lung-cancer drug hasn't reached the market, but some doctors are already weighing in on how much it should cost-arguing the price should be below average because the drug extended patient lives by only six to seven weeks in a clinical trial.

MEXICAN PRESIDENT SHUFFLES CABINET 

Mexican President Enrique Peñ a Nieto has made a limited cabinet shuffle, replacing the education minister and national security commissioner, while keeping the finance and interior ministers.

U.S. JOBLESS CLAIMS FALL AS LABOR MARKET REMAINS STRONG 

The number of Americans seeking first-time unemployment benefits fell last week, suggesting the labor market remains healthy.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Heard on the Street 
THE CASE FOR A SEPTEMBER FED RATE RISE 
 

Market turmoil has cast doubt on the Fed's September intentions. But a rate increase remains very much on the table.

 
Ahead of the Tape 
CHEAP FUEL'S BENEFITS ARE A SLOW BURN 
 

Low gasoline prices haven't spurred consumer spending, but the impact may be felt in coming months.

(END) Dow Jones Newswires

August 27, 2015 17:00 ET (21:00 GMT)

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