Business News Updates | 19-11-2023
Business news updates for November 19, 2023:
U.S. Markets Rise as Investors Cheer Easing Inflation Concerns
U.S. stock markets rose on Sunday, November 19, 2023, as investors cheered a cooler-than-expected inflation report. The Dow Jones Industrial Average gained 0.47% to close at 65,982.48, while the S&P 500 Index rose 0.46% to settle at 19,765.20. The Nasdaq Composite Index gained 1.33% to end at 13,946.29.
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.
Large Tech Companies 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.
Financial markets as of November 19, 2023:
Stock Markets Rise as Inflation Eases: Global stock markets rallied on November 19, 2023, as investors digested a report from the United States showing that inflation eased to 3.2% in October, from 6.1% in September. The Dow Jones Industrial Average rose 0.47% to close at 65,982.48, while the S&P 500 Index gained 0.46% to settle at 19,765.20. The Nasdaq Composite Index surged 1.33% to end at 13,946.29.
Retail Sales Beat Expectations: Retail sales in the United States grew 1.7% in October, exceeding forecasts for a 1.2% increase. The robust retail sales data suggests that the U.S. economy remains resilient despite rising inflation and interest rates.
Large Tech Companies to Face New Financial Regulations: The Consumer Financial Protection Bureau (CFPB) proposed a new rule that would bring large tech companies that offer digital wallets and payment apps under its supervision. The proposed rule aims to protect consumers from potential risks associated with these services, such as fraud and algorithmic bias.
Nvidia Updates H100 AI Processor: Nvidia unveiled significant enhancements to its H100 AI processor, further solidifying its dominance in the AI computing market. The updated H100 processor boasts new capabilities, including enhanced performance, improved energy efficiency, and support for new AI workloads.
Boeing Secures Orders at Dubai Airshow: Boeing kicked off the Dubai Airshow with a flurry of orders, including a $52 billion commitment from Emirates Airline for widebody aircraft. The orders provide a much-needed boost for Boeing, which has been struggling in recent years due to the COVID-19 pandemic and the grounding of the 737 Max aircraft.
Tyson Foods Writes Down Beef Investments: Tyson Foods wrote down the value of its investments in beef, citing a challenging economic backdrop, tighter cattle supplies, and higher costs. The write-down reflects the ongoing challenges faced by the meat industry, which is grappling with rising costs and declining demand.
HP Inc. Shares Rise on Optimistic Outlook: HP Inc. shares rose 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.