NEW YORK (AP) — Stocks are moving lower as investors assess the latest earnings reports. The Dow Jones industrial average was down more than 150 points in afternoon trading on Wall Street. Wal-Mart fell sharply after the company said that sales would be “relatively flat” this year because of currency fluctuations. JPMorgan Chase led financial stocks lower after its earnings fell short of analysts’ expectations.

WASHINGTON (AP) — The Federal Reserve says steady consumer spending and an improving housing market spurred modest U.S. economic growth in the late summer, though factory output was sluggish, in part because of the strong dollar. The Fed says nine of its 12 regional banks reported moderate or modest growth from mid-August through the beginning of October. Today’s report, known as the Beige Book, will be used for discussion when the central bank meets Oct. 27-28.

NEW YORK (AP) — Wal-Mart expects its profit to fall as the world’s biggest retailer works to fend off intensifying competition and adapt to changing shopping habits. The company also forecast sales for its full fiscal year to be flat, hurt by unfavorable currency exchange rates. Wal-Mart had previously forecast sales growth of 1 to 2 percent. Its shares tumbled nearly 9 percent.

NEW YORK (AP) — The top Democrat on the Senate Banking Committee is calling for the credit agency Experian to disclose more details about a data breach in which personal information on millions of T-Mobile customers was stolen. In a letter obtained by The Associated Press, Ohio Senator Sherrod Brown asks Experian to explain how the breach occurred and what changes Experian was making to its systems to stop it from happening again.

NEWARK, N.J. (AP) — Supporters of legalized sports betting in New Jersey have won a victory in court. The 3rd U.S. Circuit Court of Appeals in Philadelphia voted today to reconsider an earlier ruling that banned New Jersey’s attempt to offer sports betting at casinos and racetracks. That means the 2-1 ruling in August is vacated, and the full 3rd Circuit will rule on the case. New Jersey passed a law to allow sports betting but was sued in 2012 by the four major sports leagues and the NCAA.

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