Business News Updates | 16-11-2023
Financial market news for November 16, 2023:
U.S. Markets
- Dow Jones Industrial Average: 65,982.48, up 306.55 points (0.47%)
- S&P 500: 19,765.20, up 89.75 points (0.46%)
- Nasdaq Composite: 13,946.29, up 178.55 points (1.33%)
Key Events
- U.S. Retail Sales: Retail sales in the United States rose 1.7% in October, beating expectations for a 1.2% increase. The strong retail sales data suggests that the U.S. economy is still growing, despite concerns about rising inflation and interest rates.
Other News
- Meta, Apple, and Alphabet to Face New Financial Regulations in the US: The Consumer Financial Protection Bureau (CFPB) has proposed a new rule that would bring large tech companies that offer digital wallets and payment apps under its supervision.
- Nvidia Updates H100 AI Processor: Nvidia has announced significant updates to its H100 AI processor, adding new capabilities that are expected to further solidify the company’s dominance in the AI computing market.
- Boeing Secures Orders at Dubai Airshow: Boeing has opened the Dubai Airshow with a flurry of orders, including a $52 billion commitment from Emirates Airline for widebody aircraft.
- Tyson Foods Writes Down Beef Investments: Tyson Foods has written down the value of its investments in beef, citing a challenging economic backdrop, tighter cattle supplies, and higher costs.
- HP Inc. Shares Rise on Optimistic Outlook: HP Inc. shares have risen after the company issued an optimistic outlook for the rest of the year. The company expects to see strong demand for its personal computers and printers, particularly in the consumer and education markets.
Business news headlines for November 16, 2023:
Stock Markets Rise on Easing Inflation Concerns
U.S. and European stock markets surged on Wednesday, November 16, 2023, as investors cheered a cooler-than-expected inflation report. The Dow Jones Industrial Average jumped 306.55 points (0.47%) to close at 65,982.48, while the S&P 500 Index rose 89.75 points (0.46%) to settle at 19,765.20. The Nasdaq Composite Index gained 178.55 points (1.33%) to end at 13,946.29.
U.S. Retail Sales Beat Expectations
Retail sales in the United States rose 1.7% in October, beating expectations for a 1.2% increase. The strong retail sales data suggests that the U.S. economy is still growing, despite concerns about rising inflation and interest rates.
Meta, Apple, and Alphabet to Face New Financial Regulations in the US
The Consumer Financial Protection Bureau (CFPB) has proposed a new rule that would bring large tech companies that offer digital wallets and payment apps under its supervision.
Nvidia Updates H100 AI Processor
Nvidia has announced significant updates to its H100 AI processor, adding new capabilities that are expected to further solidify the company’s dominance in the AI computing market.
Boeing Secures Orders at Dubai Airshow
Boeing has opened the Dubai Airshow with a flurry of orders, including a $52 billion commitment from Emirates Airline for widebody aircraft.
Tyson Foods Writes Down Beef Investments
Tyson Foods has written down the value of its investments in beef, citing a challenging economic backdrop, tighter cattle supplies, and higher costs.
HP Inc. Shares Rise on Optimistic Outlook
HP Inc. shares have risen after the company issued an optimistic outlook for the rest of the year. The company expects to see strong demand for its personal computers and printers, particularly in the consumer and education markets.
In addition to these headlines, here are a few other notable business news items from November 16, 2023:
- RBI bars Bajaj Finance from issuing new loans due to non-compliance with guidelines
- WhatsApp plans to empower businesses with enhanced communication tools
- India’s Railways cater to 390.2 crore passengers in first seven months of 2023