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Thursday, November 1, 2012

Business Today: Wall Street rallies on strong consumer and jobs data

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11/1/2012

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Wall Street rallies on strong consumer and jobs data

NEW YORK (Reuters) - The S&P 500 scored its best day in seven weeks on Thursday as bullish consumer confidence and private-sector jobs data gave investors reason to cheer following superstorm Sandy's devastating sweep through the U.S. Northeast.

Data points to slow healing in labor market

WASHINGTON (Reuters) - Companies added jobs in October at the fastest pace in eight months, a sign of modest healing in the labor market just days before a presidential election that could hinge on the economy.

Chesapeake Energy has quarterly net loss on writedowns

(Reuters) - Chesapeake Energy Corp on Thursday reported a net loss compared with a year-ago profit, as low natural gas prices prompted the U.S. oil and gas company to write down the value of some assets.

Starbucks raises full-year forecast on strong sales

(Reuters) - Starbucks Corp reported higher quarterly profit on Thursday, as overall sales at its established coffee shops topped analysts' estimates, and it raised its forecast for fiscal 2013.

Storm Sandy knocks October auto sales below estimates

DETROIT (Reuters) - Superstorm Sandy's fury caused U.S. auto sales to fall short of expectations in October, but industry executives still see a strong fourth quarter as the housing market improves.

Exxon quarterly profit falls, output tumbles

(Reuters) - Exxon Mobil Corp, the world's largest publicly traded oil company, reported a quarterly profit on Thursday that topped expectations, as higher margins from its refining arm countered a 7.5 percent decline in oil and gas output.

U.S. fiscal cliff looms large at Mexico G20 meet

MEXICO CITY (Reuters) - World finance chiefs this weekend will press the United States on how it can prevent its fiscal problems from hitting the global economy and will seek reassurance from Europe that it has a grip on its debt crisis.

Asian factories perk up, U.S. shows improvement

NEW YORK/BEIJING (Reuters) - Asia's large economies started to pick up steam last month after a year of slower growth, surveys showed on Thursday, while U.S. manufacturing showed modest improvement.

United Airlines takes delivery of second 787 Dreamliner

(Reuters) - United Airlines said on Thursday it had taken delivery of its second 787 Dreamliner jet from Boeing , following a delay by the aircraft maker, and that another three 787s due to arrive this year could also be delayed.

Green Mountain to make Kirkland K-Cups for Costco

(Reuters) - Green Mountain Coffee Roasters Inc will add the Kirkland Signature brand to its lineup of K-Cups as it battles lower-cost competitors, in a deal with Costco Wholesale Corp that sent its shares up 9 percent.