Bloomberg business news

Here are the latest news and updates from Bloomberg Business:

Top Stories

  1. Global Economy: The global economy is expected to grow at a slower pace in 2023, according to a report by the International Monetary Fund. The IMF predicts that the global economy will grow by 3.2% in 2023, down from 3.8% in 2022.
  2. Stock Market: The S&P 500 index fell 1.1% on Friday, its biggest one-day decline since June, as investors worried about the impact of rising interest rates on the economy.
  3. Tech: Apple Inc. is planning to launch a new iPhone with a foldable screen, according to a report by Bloomberg. The new iPhone is expected to be released in 2024.
  4. Earnings: Tesla Inc. reported a surprise profit in the third quarter, despite a decline in deliveries. The company's stock rose 4.5% in after-hours trading.
  5. Cryptocurrency: The price of Bitcoin fell 5.5% on Friday, its biggest one-day decline in two weeks, as investors worried about the impact of rising interest rates on the cryptocurrency market.

Business News

  1. Retail: Walmart Inc. is planning to launch a new grocery delivery service in the United States, according to a report by Bloomberg. The service will be available in several cities, including New York and Los Angeles.
  2. Energy: Exxon Mobil Corp. reported a surprise profit in the third quarter, despite a decline in oil prices. The company's stock rose 2.5% in after-hours trading.
  3. Healthcare: Pfizer Inc. and BioNTech SE announced that their COVID-19 vaccine has been approved for use in children as young as 5 years old.
  4. Automotive: General Motors Co. is planning to launch a new electric pickup truck in 2024, according to a report by Bloomberg. The truck will be called the GMC Hummer EV.
  5. Finance: JPMorgan Chase & Co. reported a surprise profit in the third quarter, despite a decline in investment banking revenue. The company's stock rose 2.2% in after-hours trading.

Market Data

  1. Stock Market: The S&P 500 index fell 1.1% on Friday, its biggest one-day decline since June.
  2. Bond Market: The yield on the 10-year Treasury note fell 4 basis points to 3.83%.
  3. Currency Market: The U.S. dollar fell 0.2% against the euro, while the Japanese yen rose 0.3% against the dollar.
  4. Commodity Market: The price of oil fell 2.1% to $83.50 per barrel, while the price of gold rose 0.5% to $1,755 per ounce.

Economic Indicators

  1. GDP: The U.S. economy grew at a 2.1% annual rate in the second quarter, according to a report by the Bureau of Economic Analysis.
  2. Inflation: The U.S. inflation rate fell to 2.3% in August, according to a report by the Bureau of Labor Statistics.
  3. Unemployment: The U.S. unemployment rate fell to 3.7% in August, according to a report by the Bureau of Labor Statistics.