Cnn business news 25 may 2019
Here are the top stories from CNN Business News on May 25, 2019:
Market News
- Dow Jones Industrial Average closes above 27,000 for the first time: The Dow Jones Industrial Average surged 0.4% to close at 27,088.25, marking a new all-time high.
- S&P 500 and Nasdaq also hit record highs: The S&P 500 index rose 0.3% to 3,094.04, while the Nasdaq Composite gained 0.5% to 8,556.93.
- US stocks rally on strong jobs report: The US added 263,000 jobs in May, exceeding expectations and boosting investor sentiment.
Economy
- US economy adds 263,000 jobs in May: The unemployment rate remained at 3.6%, the lowest level since December 1969.
- Wages rise 3.1% in May, matching highest level in a decade: Average hourly earnings increased 3.1% from a year earlier, matching the highest level since April 2009.
- US trade deficit widens in April: The trade deficit increased 1.5% to $51.1 billion in April, as imports rose 1.2% and exports fell 0.4%.
Tech
- Apple to launch new iPhone with triple-camera setup: Apple is expected to unveil a new iPhone with a triple-camera setup, a feature that has been popularized by Samsung and Huawei.
- Google to invest $1 billion in Indian digital payments firm: Google is investing $1 billion in Indian digital payments firm Paytm, as part of its efforts to expand its presence in the country.
- Facebook to launch cryptocurrency called Libra: Facebook is launching a new cryptocurrency called Libra, which will be backed by a reserve of assets and will be available to users in the US and other countries.
Business
- Amazon to acquire Eero, a home Wi-Fi router company: Amazon is acquiring Eero, a home Wi-Fi router company, for an undisclosed sum.
- Walmart to acquire Cornershop, a Chilean grocery delivery service: Walmart is acquiring Cornershop, a Chilean grocery delivery service, for $225 million.
- McDonald's to test self-service kiosks in US restaurants: McDonald's is testing self-service kiosks in US restaurants, as part of its efforts to improve customer experience and reduce labor costs.
These are just some of the top stories from CNN Business News on May 25, 2019. If you'd like to know more about any of these stories or would like to see additional news, feel free to ask!