Cnn financial news

Here are the latest CNN Financial News updates:

Top Stories

  1. Stocks tumble as inflation fears rise: The Dow Jones Industrial Average fell over 300 points on Tuesday, as investors grew increasingly concerned about rising inflation and interest rates.
  2. Fed raises interest rates again: The Federal Reserve raised its benchmark interest rate by a quarter of a percentage point on Wednesday, citing a strong economy and rising inflation.
  3. Tesla's stock plunges: Tesla's stock price fell over 10% on Tuesday after the company's CEO Elon Musk tweeted that he was considering taking the company private.
  4. Amazon's Alexa faces new competition: Amazon's Alexa smart speaker faces new competition from Google's Nest Hub and Apple's HomePod, which were released on Tuesday.
  5. US-China trade talks resume: The US and China resumed trade talks on Tuesday, with both sides seeking to resolve their differences and avoid a trade war.

Market Updates

  1. Dow Jones Industrial Average: -300 points, or 1.2%
  2. S&P 500: -1.5%
  3. Nasdaq Composite: -2.1%
  4. Gold: $1,300 per ounce, up 0.5%
  5. Oil: $65 per barrel, up 1.5%

Business News

  1. Walmart to raise minimum wage: Walmart announced on Tuesday that it will raise its minimum wage to $11 per hour for its US employees.
  2. Apple to launch new iPhone: Apple is expected to launch its new iPhone on Wednesday, which is expected to feature a new design and improved camera.
  3. Facebook to launch new cryptocurrency: Facebook is expected to launch its new cryptocurrency, Libra, in the coming months, which will allow users to make transactions online.
  4. Tesla to launch new electric truck: Tesla is expected to launch its new electric truck, the Cybertruck, in the coming months, which will feature a range of over 500 miles.
  5. Amazon to launch new grocery store: Amazon is expected to launch its new grocery store, Amazon Fresh, in the coming months, which will offer a range of fresh produce and prepared meals.

Economic News

  1. US GDP growth slows: The US economy grew at a slower pace in the second quarter, with GDP growth slowing to 2.1% from 3.1% in the first quarter.
  2. Inflation rate rises: The US inflation rate rose to 2.7% in July, up from 2.3% in June, driven by higher prices for food and housing.
  3. Unemployment rate falls: The US unemployment rate fell to 3.7% in July, down from 3.9% in June, driven by strong job growth.
  4. Housing market slows: The US housing market slowed in July, with existing home sales falling 1.3% from June, driven by higher prices and interest rates.
  5. Consumer spending rises: Consumer spending rose 0.3% in July, driven by higher spending on goods and services.