Tech stocks lead gains...Job market strengthens...Kroger’s fashion line
NEW YORK (AP) — Rising technology stocks are helping to lift U.S. indexes, and the S&P 500 index is on pace to eke out an eighth straight week of gains. That would be its longest weekly winning streak in nearly four years. Bond yields held steady after a report showed that the U.S. job market strengthened last month, but not by quite as much as expected. The Labor Department said employers added 261,000 jobs in October.
WASHINGTON (AP) — The unemployment rate for recent military veterans fell sharply in October, though not entirely for positive reasons. The rate for those who have served in the armed forces anytime since September 2001 dropped to 3.6 percent, the lowest level in data going back to 2008. While some found jobs, many others stopped looking for work or didn’t want to work and so weren’t counted as unemployed. The unemployment rate for less educated workers —those without high school diplomas — also fell sharply to 5.7 percent from 6.5 percent.
WASHINGTON (AP) — U.S. services companies in October grew at the best rate in more than a dozen years. The Institute for Supply Management says its services index rose last month to 60.1 from 59.8 in September. Any reading above 50 signals expansion. The October reading was the biggest since August 2005. The services sector has reported growth for 94 consecutive months.
SAN FRANCISCO (AP) — Apple’s iPhone Ten is now for sale, as the company scrambles to meet demand for a device with a $1,000 price tag. Apple is giving delivery times of three to four weeks, down from five to six weeks, for those ordering online. Lines formed outside stores in New York, Chicago, Hong Kong, Milan, Italy, and Dubai, United Arab Emirates, among others, as customers came to pick up orders or to grab one of the limited numbers available for same-day sales today. Apple Shares rose 2.8 percent in midday trading.
NEW YORK (AP) — Kroger is launching its own fashion line starting next fall. The nation’s largest supermarket chain said today that the brand will first make its debut at Fred Meyer and Kroger Marketplace stores, totaling 300 locations across the country. The casual collection will span from children to teens to adults. In recent years, Kroger has sold some clothing under different national brands.