Why the food you buy might be getting even safer to eat, plus a higher close for the markets following some good economic reports. Here's the Friday Bloomberg After The Bell Report from the New York Stock Exchange.
New York Stock Exchange
8667.68 up 59.89
American Stock Exchange
2388.67 up 26.34
3101.66 up 1.09
Standard And Poors 500
1466.47 up 7.10
A positive sign for the economy as service industries in the U.S. expanded in December at the fastest rate in 10 months, thanks to a good holiday shopping season for retailers and a housing market on the rebound. Faster services growth though may depend on how quickly more Americans can find jobs needed to boost incomes and spur spending.
Stocks closed higher sending the S&P above the highest closing level since December 2007. A good jobs report helped pull the markets up and it looks like we were paying a bit less for food at the grocery store during the fourth quarter of last year.
The Farm Bureau says some popular fruits and vegetables showed a decline in retail prices and a federal food safety law passed two years ago is finally going into effect. Companies that sell in the U.S. would have one year to come up with a formal plan for preventing the causes of foodborne illnesses and the act would force produce farms with a high risk of contamination to develop new hygiene, soil and temperature controls.
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