The Apple announcement Wednesday, expected to show updates to the company's iPod line-up, can be streamed live on Apple computers and mobile devices.
The rise in consumer spending counters investor fears of a dip back into recession as the American consumer loosens up a bit.
Ben Bernanke, chairman of the Federal Reserve, expressed tempered optimism about the economy in a major speech Friday. Stocks rose slightly following his comments.
US GDP grew at a 1.6 percent pace in the second quarter, less than the original 2.4 percent estimate. Surging imports and the end of homebuyer tax credits contributed to the change.
Commerce Department says its proposals will tighten enforcement of existing trade laws, cracking down on alleged product dumping and illegal import practices by China and other Asian nations.
One of the nation’s top economists on Wednesday predicted rising unemployment and falling housing prices, which could spell trouble for Democrats’ efforts to maintain control of Congress.
Florida Democrat Bill Nelson announced legislation this week that would offer tax breaks for those seeking to develop commercial spacecraft.
Stock market: Stocks headed to a slightly lower opening Friday after the latest consumer spending number fell just short of expectations.