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Morning Outlook

Coffee Prices Hit a 2 ½-Year High, Holiday Sales Expected to Rise

By Morning Outlook FOXBusiness

If you're waking up to a fresh pot of coffee this morning, enjoy it. Coffee prices are hitting a two-and-a-half year high. Dry weather in Brazil, the world’s top coffee producer, is the catalyst for the rising costs, and is fueling concern about next year's coffee crop.

Retailers are gearing up for the always-busy holiday shopping season. The National Retail Federation expects sales this season will rise more than 4% to $617 billion, the most in three years. That would beat last year’s 3.1% increase.

In the meantime, it's fall, which means fast-food chains are serving up good deals: Burger King (BKW) is selling 10-piece chicken nuggets for a $1.49, half the normal price of the bite-size food. And for $5, you can get certain meals, drinks and desserts at KFC (YUM) and Dairy Queen.

Meanwhile,  a new report says your wait at the drive thru could be at least three-and-a-half minutes, a record high. It turns out some of those healthier items on menus are taking longer to make.

Consider this: One in three jobs will be taken by robots, drones or other smart machines by the year 2025. Researcher Gartner's forecast is a warning to the CIOs and IT managers out there to prepare now for the future.

On Wall Street, traders are bracing for the kickoff to third-quarter earnings season. The major U.S. market averages fell deep in the red Tuesday as traders cashed in on gains from the year.

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