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Continuing the rally?...Industrial production, pending home sales reports rue

Monday - 10/28/2013, 7:40am  ET

NEW YORK (AP) -- Investors are hoping the stock market rally will continue today. The market wrapped up its third straight weekly gain on Friday. The S&P 500 index hit a record. The Nasdaq is the highest it's been in 13 years. The Dow climbed 61 points on Friday, the S&P 500 rose nearly 8 and the Nasdaq was up 14. Futures point to modest gains at this morning's opening.

KUALA LUMPUR, Malaysia (AP) -- International stock markets were mostly higher today amid growing expectations that the U.S. Federal Reserve won't start reducing its monetary stimulus until at least the first quarter of next year. Benchmark U.S. crude oil fell slightly to remain near $98 a barrel. The dollar was little-changed against the euro and gained against the yen.

WASHINGTON -- The Federal Reserve will report September's industrial production numbers today. And the National Association of Realtors will release the pending home sales index for September. Merck will report quarterly earnings before the bell today. Apple reports after the close.

WASHINGTON (AP) -- The continuing debate over cutting food stamps is making it hard for Congress to pass a farm bill and much higher milk prices could be an unintended consequence of failure. Members of the House and Senate are scheduled to begin long-awaited negotiations this week. Dairy supports expire at the end of the year.

TOKYO (AP) -- Toyota's global sales for the first nine months of the year reached 7.41 million vehicles, the world's top-selling automaker over general motors. GM said earlier this month that its global sales for January through September totaled 7.25 million vehicles. Toyota's numbers were little changed from last year while GM sales rose 4.6 percent. Germany's Volkswagen AG sold just over 7 million vehicles worldwide, making it a close third.

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