The Conference Board Leading Economic Indicator Index for the U.S. increased by 0.9 percent in October. The U.S. LEI rose sharply las month suggesting the current economic expansion will continue into 2022 and may even gain some momentum in the final months of this year. Gains were widespread among the leading indicators, with only the average workweek and consumers' outlook making negative contributions.
Shares of CVS Health are higher after the company said that they will close about 900 stores over the next three years, as it adjusts to shoppers who are buying more online. The company announced that they will focus more of its efforts on digital growth and turning their stores into destinations that offer a range of health-care services, from flu shots to diagnostic tests.
Not even coffee is immune to the powerful forces of extreme weather and inflation. Coffee futures climbed to the highest level since 2012. It's just the latest spike for a commodity that has seen its value surge more than 80% so far this year. Unfortunately, this means coffee drinkers will be paying higher prices at grocery stores and coffee shops in the coming months. And that will only add to the inflationary pressures currently causing anxiety for millions of Americans. The blame for the coffee spike falls in large part on severe drought and unusual frost conditions in Brazil, the world's largest supplier of coffee beans.