Cnn business news 1 june 2019
Here are the top stories from CNN Business News on June 1, 2019:
Market News
- Dow Jones Industrial Average closes above 26,000 for the first time: The Dow Jones Industrial Average closed above 26,000 for the first time, driven by strong earnings reports from major companies like Apple and Microsoft. The S&P 500 also hit a record high.
- US stocks rise as investors await Fed decision: US stocks rose on Friday as investors awaited the Federal Reserve's decision on interest rates. The Fed is expected to keep rates unchanged, but investors are looking for clues on future rate hikes.
Economy
- US economy adds 223,000 jobs in May: The US economy added 223,000 jobs in May, beating expectations and showing a strong labor market. The unemployment rate remained at 3.6%, near a 50-year low.
- US trade deficit widens in April: The US trade deficit widened in April as imports rose and exports fell. The deficit increased to $51.1 billion, the largest in five months.
Tech
- Apple's services segment drives profit growth: Apple's services segment, which includes the App Store, Apple Music, and Apple TV+, drove profit growth in the company's latest quarter. The company also reported strong sales of its iPhone and Mac products.
- Microsoft's cloud business grows 59%: Microsoft's cloud business, which includes its Azure and Office 365 products, grew 59% in the company's latest quarter. The company also reported strong sales of its Surface laptops and tablets.
Business
- Amazon to acquire Eero for $97 million: Amazon is acquiring Eero, a startup that makes Wi-Fi routers, for $97 million. The acquisition is seen as a move to expand Amazon's presence in the smart home market.
- Walmart to test grocery delivery service: Walmart is testing a grocery delivery service in several cities, allowing customers to order groceries online and have them delivered to their homes.
International
- China's economy grows 6.4% in Q1: China's economy grew 6.4% in the first quarter, beating expectations and showing a strong start to the year. The country's economy has been slowing in recent years due to a trade war with the US.
- UK economy contracts in Q1: The UK economy contracted in the first quarter, driven by a decline in manufacturing and construction output. The contraction is seen as a sign of uncertainty surrounding the country's departure from the EU.
These are just some of the top stories from CNN Business News on June 1, 2019. Let me know if you'd like me to provide more information or if you have any specific questions!