Cnn business news 1st june 2019
Here are the top stories from CNN Business News on June 1st, 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, with the S&P 500 and Dow Jones Industrial Average both hitting record highs, as investors awaited the Federal Reserve's decision on interest rates.
Economy
- US economy adds 224,000 jobs in May, unemployment rate falls to 3.6%: The US economy added 224,000 jobs in May, beating expectations, and the unemployment rate fell to 3.6%, the lowest level since December 1969.
- US-China trade talks to resume next week: US and Chinese officials will resume trade talks next week, with the goal of reaching a deal to end the trade war.
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 for the company in the latest quarter.
- Microsoft's cloud business grows 59%: Microsoft's cloud business, which includes its Azure and Office 365 products, grew 59% in the latest quarter, beating expectations.
Business
- Walmart to raise minimum wage for US employees: Walmart, the largest private employer in the US, announced that it will raise the minimum wage for its US employees to $12 an hour.
- Amazon to open new headquarters in Arlington, Virginia: Amazon announced that it will open a new headquarters in Arlington, Virginia, which will be its second headquarters in the US.
International
- UK economy contracts for first time since 2012: The UK economy contracted for the first time since 2012, according to data from the Office for National Statistics.
- China's economy grows 6.4% in Q2: China's economy grew 6.4% in the second quarter, beating expectations, according to data from the National Bureau of Statistics.
These are just some of the top stories from CNN Business News on June 1st, 2019. Let me know if you'd like me to provide more information or if you have any specific questions!