1. U.S. Retail Sales Rose 0.2% in September, Below Expectations — Purchases at stores, restaurants and online increased a seasonally adjusted 0.2% in September from the prior month, the Commerce Department said Tuesday. That was below the 0.3% increase economists had expected, and marked a cooling from the 0.6% increase clocked in August. September’s retail sales report suggested consumers closed out the summer months on a weaker footing. Consumers reined in spending in a number of key categories, including vehicles, electronics, clothing, sporting goods and at online retailers. Still, spending at bars and restaurants rose a solid 0.7%, and spending at personal care and grocery stores also rose.
2. Airbus issues major A320 recall after flight-control incident — Airbus said in a statement a recent incident involving an A320-family aircraft had revealed that intense solar radiation may corrupt data critical to the functioning of flight controls. For about two-thirds of the affected jets, the recall will result in a relatively brief grounding as airlines revert to a previous software version, industry sources said. But the scale of the operation is expected to cause significant disruption, emerging just ahead of the busiest travel weekend of the year in the United States.
3. Trump Says He Is Canceling Biden Executive Orders Signed With Autopen — President Trump said Friday he was revoking all executive orders former President Joe Biden signed with an autopen, escalating his battle with his predecessor over the use of the signature proxy device. Both Democratic and Republican presidents have used autopens, devices that replicate signatures. Trump has said autopens shouldn’t be used on important documents. He said earlier this year that he has used an autopen for unimportant papers.
Presidents are legally allowed to undo executive orders signed by their predecessors. Trump could potentially revoke Biden’s legislation or the dozens of pardons he issued, including to family members. Biden also gave thousands of commutations at the end of his presidency. Still, legal scholars say there is no mechanism to undo clemency after it is granted.

The week ahead — Economic data from Econoday.com:

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