NEW YORK (AP) — The stock market begins the last trading day of the week on a high note. Solid company earnings and good economic news pushed the market higher yesterday. The Dow Jones industrial average surged 221 points, or 1.3 percent, to 17,195. The S&P 500 index gained 12 points, or 0.6 percent, to close at 1,994. The Nasdaq composite rose 17 points, or 0.4 percent, to 4,566.
SEOUL, South Korea (AP) — Japan’s Nikkei 225 stock average surged 5 percent and the yen slid against the dollar after the Bank of Japan unexpectedly announced new stimulus to boost a flagging economic recovery. Other Asian stock markets were also higher after the Japanese central bank’s announcement Friday. The dollar rose 1.2 percent to 110.64 yen.
WASHINGTON (AP) — There are two government reports due out today. The Commerce Department will release September’s personal income and spending figures. Also, the Labor Department will issue the third-quarter employment cost index. On the corporate side, Exxon Mobil will report quarterly earnings before the market opens.
LOS ANGELES (AP) — A $500 million lawsuit against Kimberly-Clark Corp. alleges the company falsely claimed its surgical gowns protected against Ebola and other infectious diseases. The suit, filed in federal court in Los Angeles, alleges that the multinational company knew for at least a year that its Microcool Breathable High Performance Surgical Gown had failed industry tests of impermeability to blood and microbes. The lawsuit alleges many gowns tested had “catastrophic” failures.
NEW YORK (AP) — The average price of gasoline in the U.S. hit $3 a gallon today, and should soon drop below the benchmark for the first time since December 2010. AAA says the price at the pump fell 33 cents in October, thanks mainly to plunging oil prices. Many happy drivers have taken to social media to post pictures of gas station signs with prices of $2.99 or lower. Drivers in South Carolina and Tennessee are paying the lowest prices, with an average of $2.75 a gallon.
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