Amazon Leads Wall Street Rise as Jobs Data Spooks Markets
U S stocks rose with the S&P 500 up 0.4 percent the Dow higher 288 points and the Nasdaq up 0.8 percent Amazon climbed 6.2 percent on strong quarterly profit while Intel and Cardinal Health also posted gains Apple slipped 1.2 percent amid weak revenue outlook The job report showed only 12000 net new hires much below expectations and lingering market noise from hurricanes and a Boeing strike kept Fed rate cut expectations intact but pared odds of holding steady
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October job growth slows as strikes and storms bite hiring
U S employers added 12 000 jobs in October, down from September 223 000, with storms and strikes reducing payrolls by up to 100 000. The unemployment rate held at 4.1 percent while healthcare and local governments added jobs, and August-September gains were revised lower. The report notes a cooling but solid labor market ahead of the election.
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IRS raises 401(k) contribution limit for 2025 to 23500
The IRS said 401(k) and 403(b) plans plus the Thrift Savings Plan can contribute up to 23500 in 2025, up from 23000 in 2024. IRA limits stay at 7000 with a 1000 catch‑up for those 50 and older, while standard deductions rise for 2025 and tax brackets are adjusted upward. Social Security benefits also gain a 2.5 percent COLA starting January.
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Wendy's to close 140 older U S restaurants this year
Wendy's will shut about 140 U S restaurants by year end on top of 100 slated for May, offset by 250 to 300 new openings. CEO Kirk Tanner said closures target underperforming sites, many outdated, with no location list released.
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