NEW YORK (AP) — U.S. stock futures are rising sharply and major U.S. averages could hit new highs following a twist in the race for the top job at the Federal Reserve.
Dow Jones industrial futures are up 162 points to 15,473. S&P futures have gained 18 points to 1,700. Nasdaq futures are up 32.5 points to 3,204.
Lawrence Summers, the leading candidate to replace Fed Chairman Ben Bernanke, withdrew his name from consideration Sunday. Summers was considered more hawkish on the economy, which means that most people thought he would be more likely to rein in the government's massive stimulus program.
The president is expected to nominate Bernanke's successor as early as this month and right now, the front runner is Janet Yellen, the Fed's vice chair.
The U.S. releases industrial production numbers Monday.
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Buffalo Police have arrested 26-year-old Nicholas Finnegan of South Buffalo and charged him with pushing Russ Ross to his death.
The Niagara County Sheriff's responded to Saunders Settlement Road near Comstock in Cambria Friday night after receiving a tip about a suspected meth lab.
Police say there were 32 burglaries, 20 in Albion, five in Medina, four in Oakfield and three in the City of Lockport.
Firefighters had to withdraw from a smoky fire in Blasdell at a multi-dwelling home on South Park Avenue Friday night because the flames were so intense.
Call 4 Action looked into claims this week that members of BJ's Wholesale Club were paying too much on sales tax on some deeply discounted items.
State Police in Pennsylvania are investigating an alleged pedophile pastor already facing charges in Western New York.