Autos lift U.S. consumer spending; sentiment slips

U.S. consumer spending rose in July as households stepped up automobile purchases, offering further evidence of strength in the economy that could keep the door open to a Federal Reserve interest rate hike this year. While other data on Friday showed consumer sentiment dipped in August, likely as households fretted over a recent stock market sell-off, confidence remained at levels consistent with solid consumer spending growth. The Commerce Department said consumer spending, which accounts for m