“I feel pretty good about our future,” says Shavonne Henry, a 26-year-old who lives in Vancouver, Washington, with her 25-year-old husband and children. They have some saved up in a 401(k) through her husband’s work and a rolled-over 401(k) account from her old job.
“This morning’s report provides confirmation that the American consumer remains a key driver of economic growth as we slowly approach the very important holiday shopping season,” said Michael Dolega, a senior economist at TD Bank.
“Challenges remain – and very real differences between our governments persist on issues of democracy and human rights – but I believe that engagement is the best way to address those differences and make progress on behalf of our interests and values,” Obama said in a statement announcing the changes.
KEEPING SCORE: The Dow Jones industrial average jumped 156 points, or 0.9 percent, to 18,254 as of 10:20 a.m. Eastern time. The Standard & Poor’s 500 index gained 16 points, or 0.8 percent, to 2,148. The Nasdaq composite climbed 44 points, or 0.9 percent, to 5,257. Stocks are on track to wipe out most of their losses from earlier this week.
The massive regulation is known as MACRA. It’s meant to carry out bipartisan legislation passed by Congress and signed by President Barack Obama last year.
The Labor Department said Friday that its producer price index, which measures cost pressures before they reach the consumer, increased 0.3 percent in September. Oil prices have steadied and edged upward recently, causing energy goods to rise 2.5 percent last month. Food prices at the wholesale level rose 0.5 percent, with a 26 percent jump in chicken eggs and 10.5 percent increase in vegetables.
“Consumers should immediately stop using and power down all Galaxy Note 7 devices, including Note 7 devices received as replacements in the previous recall,” the agency said.
The Federal Aviation Administration has taken the unusual step of warning passengers not to use or charge the devices while on board and not to stow them in checked luggage.
Mortgage giant Freddie Mac says the average for a 30-year fixed-rate mortgage increased to 3.47 percent from 3.42 percent last week. Rates still remain near historic lows. The benchmark 30-year rate is down from 3.82 percent a year ago and close to its all-time low of 3.31 percent in November 2012.