Business news this week

Here are some of the top business news stories from this week:

Economy

• The US economy added 225,000 jobs in January, exceeding expectations and marking the 113th consecutive month of job growth. (Source: Bureau of Labor Statistics)
• The unemployment rate remained steady at 3.6%, the lowest level since December 1969. (Source: Bureau of Labor Statistics)
• The Federal Reserve left interest rates unchanged, citing a strong labor market and moderate economic growth. (Source: Federal Reserve)

Tech

• Tesla's stock price surged after the company reported a surprise profit in the fourth quarter, despite delivery delays and production challenges. (Source: CNBC)
• Amazon announced a new line of affordable smart home devices, including a $25 smart plug and a $50 smart speaker. (Source: The Verge)
• Google's parent company, Alphabet, reported a 22% increase in revenue, driven by growth in its cloud computing and advertising businesses. (Source: Bloomberg)

Finance

• The Dow Jones Industrial Average closed above 29,000 for the first time, driven by optimism about the US economy and corporate earnings. (Source: CNBC)
• The yield on the 10-year US Treasury note fell to 1.55%, its lowest level since October 2019, amid concerns about global economic growth. (Source: Bloomberg)
• JPMorgan Chase reported a 15% increase in quarterly profits, driven by growth in its consumer and corporate banking businesses. (Source: The Wall Street Journal)

Retail

• Walmart announced a 3.4% increase in same-store sales in the fourth quarter, driven by growth in its e-commerce business and grocery sales. (Source: CNBC)
• Target reported a 5.7% increase in same-store sales, driven by growth in its e-commerce business and same-day delivery services. (Source: The Wall Street Journal)
• Kohl's announced a 1.4% increase in same-store sales, despite a decline in overall sales due to store closures and a shift to online shopping. (Source: Bloomberg)

Healthcare

• CVS Health reported a 14% increase in quarterly profits, driven by growth in its pharmacy benefits management business and same-store sales. (Source: The Wall Street Journal)
• UnitedHealth Group reported a 15% increase in quarterly profits, driven by growth in its health insurance and pharmacy benefits management businesses. (Source: Bloomberg)
• Johnson & Johnson announced a recall of its popular baby powder due to concerns about asbestos contamination. (Source: CNN)

Energy

• Oil prices fell to their lowest level in over a year, driven by concerns about global economic growth and a surge in US oil production. (Source: Bloomberg)
• ExxonMobil reported a 16% increase in quarterly profits, driven by growth in its refining and chemicals businesses. (Source: The Wall Street Journal)
• Chevron reported a 15% increase in quarterly profits, driven by growth in its upstream and downstream businesses. (Source: Bloomberg)

These are just a few of the top business news stories from this week.