NEW YORK (AP) — It’s going to be a hard act to follow when the market opens later this morning. Yesterday, the Dow Jones soared by 274.83 points, or 1.6 percent, to 16,994.22. The Standard & Poor’s 500 index added 33.79 points, or 1.8 percent, to 1,968.89 and the Nasdaq composite rose 83.39 points, or 1.9 percent, to 4,468.59
WASHINGTON (AP) — The government will report today on the number of people who applied for jobless benefits last week as well as wholesale trade inventories for August. Freddie Mac will release weekly mortgage rates and the Pew Research Center will report on global income inequality. Some chain retailers will release September sales today and PepsiCo will report quarterly earnings.
BERLIN (AP) — Leading economic think tanks have slashed their growth forecast for Germany due to weak eurozone and global growth as well as uncertainty over the Ukraine crisis.The four economic institutes are predicting that Europe’s biggest economy will expand only 1.3 percent this year and 1.2 percent in 2015. That compares with their prediction in April that the economy would grow 1.9 percent this year and 2 percent next year.
WASHINGTON (AP) — AT&T wireless customers may want to take a closer look at their old phone bills because they may have money coming back to them.The Federal Trade Commission says AT&T Mobility LLC, a subsidiary of the telecom giant, has agreed to a hefty $105 million settlement after the government accused the company of unlawfully billing customers for hundreds of millions of dollars in bogus charges — a practice known as cramming.
ALBANY, N.Y. (AP) — A state legislator is proposing tax credits for music production in New York similar to the credits that have been provided for film and television production.Assemblyman Joe Lentol, a Brooklyn Democrat, is offering legislation to establish a 20 percent tax credit. The Legislature is scheduled to convene again in January.
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