Consumers preparing to change insurance

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Open enrollment starts today on the Affordable Care Act exchanges.

Consumers in some parts of the country are bracing for huge rate hikes, while many others are preparing to change insurers and likely doctors.

This year’s enrollment comes as ObamaCare needs a big boost, especially of younger, healthier people to help offset insurers’ costs of covering the sicker people who have signed up so far.

Subscription services like Spotify could be the economy of the future.

Americans spent 420 billion dollars on subscriptions in 2015, up from several billion in 2000.

Zuora, a consulting firm, says subscriptions like Zipcar, Uber, and Netflix emphasizes long-term relationships with customers.

Since an unhappy customer can simply unsubscribe at any point, companies must invest in real customer service and listen to client feedback.

Stocks slid Monday with the Dow closing about 20 points lower, with Goldman Sachs contributing the most gains and Nike the most losses.

Stocks were also still nervous about political jitters and the election, which is now 1 week away.

Also the federal reserve begins a two day meeting today where no change in interest rates is expected.

Luxury retailers that usually peddle high-end handbags are trimming their stock this year.

Millennial shoppers aren’t as into the whole luxury thing, Bloomberg reports, and department stores have continued to see traffic slow down.

The number of new purses introduced by Nordstrom and Bloomingdales dipped 23% and 3% respectively.

And brands like coach, Michael Kors, and Kate spade are turning away from selling to department stores in an effort to reinvigorate the luxury aspect of their brands.

Butterball is revamping how it helps those cooking a turkey for thanksgiving.

Business insider reports that for the first time in its 35-year history Butterball will allow answer-seeking cooks to spell out their questions via text messages.

Cooks can text the talk line at 1-800-butterball 24-7 starting November 17 and ending November 24.

For more business headlines from Jane King at the Nasdaq, watch Daybreak Monday through Friday.