Cnn business news may 26 2019

Here are some of the top stories from CNN Business News on May 26, 2019:

Market News

• The Dow Jones Industrial Average fell 0.4% to 25,648.93, while the S&P 500 declined 0.3% to 2,859.19. The Nasdaq Composite dropped 0.5% to 7,816.38.
• The yield on the 10-year Treasury note fell to 2.14%, its lowest level since November 2016.
• Oil prices rose 1.4% to $62.45 per barrel, their highest level since April 2019.

Economy

• The US economy added 223,000 jobs in May, exceeding expectations and pushing the unemployment rate down to 3.6%, its lowest level since December 1969.
• The Labor Department also reported that wages rose 3.1% in May, the largest increase in 10 years.
• The Federal Reserve left interest rates unchanged, but signaled that it may cut rates later this year if the economy slows down.

Tech

• Facebook announced that it would be launching a new cryptocurrency called Libra, which would be backed by a basket of currencies and would be available to users in the US and other countries.
• The company also announced that it would be launching a new digital wallet called Calibra, which would allow users to store and manage their Libra currency.
• Amazon announced that it would be launching a new streaming service called Amazon Prime Video Channels, which would allow users to subscribe to individual streaming services such as HBO, Showtime, and Starz.

Business

• Boeing announced that it would be cutting production of its 737 Max aircraft by 20% due to the ongoing grounding of the plane following two fatal crashes.
• The company also announced that it would be taking a $5 billion charge in the second quarter due to the grounding of the plane.
• McDonald's announced that it would be testing a new menu item called the "McNuggets 20," which would feature 20-piece packs of chicken nuggets for $10.

International

• The European Union and the United States reached a deal on trade, with the EU agreeing to reduce tariffs on US goods such as whiskey and motorcycles.
• The deal was seen as a major breakthrough in the trade talks between the two sides, which have been ongoing for months.
• The Chinese government announced that it would be imposing tariffs on $60 billion worth of US goods, including clothing, shoes, and electronics, in response to the US imposing tariffs on $200 billion worth of Chinese goods.