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.