Morning Business Report: Amazon announces massive holiday hiring push as U.S. economy shows mixed signals

Amazon is gearing up for the holiday season with plans to hire 250,000 workers across the United States.

(LILAMAX)- Amazon is gearing up for the holiday season with plans to hire 250,000 workers across the United States. The new positions will support the company’s vast delivery and warehouse network, with full-time, part-time, and seasonal roles being posted weekly through December.

Amazon says it will invest more than $1 billion into additional pay and benefits for its fulfillment and transportation employees as part of the expansion effort.

In the auto market, Cox Automotive reports the average price for a new vehicle topped $50,000 last month — a record high. The milestone comes amid a rise in loan defaults and repossessions, especially among consumers with subprime credit. Analysts say wealthier buyers continue to spend, while those on tighter budgets are staying out of the market.

On Wall Street, the Dow Jones Industrial Average rebounded 600 points Monday, recovering from Friday’s sharp selloff as trade tensions with China eased. The Nasdaq jumped 2 percent, led by tech gains.

Meanwhile, Papa Johns Pizza stock surged following reports the company may be purchased by a private firm. Papa Johns operates a network of more than 6,000 restaurants worldwide, most of which are franchised.

And with Halloween fast approaching, a new survey by Talker Research for CVS Pharmacy reveals that the average American eats through their Halloween candy stash twice before trick-or-treaters even arrive. One in four admitted to restocking three times or more.

The study of 2,000 adults also found that about a third identify as early planners who decorate and buy candy by October 1st — while nearly as many confessed to being last-minute shoppers. Despite their best intentions, more than half said they still find themselves making a final candy run right before Halloween night.