Business News Today: What’s Happening in the USA is a blog that covers the latest business news happening in the United States.
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Economy
It’s been a tough few years for the US economy. The stock market has been volatile, unemployment is high, and growth has been sluggish. However, there are some signs that the economy is improving. Consumer confidence is up, manufacturing is growing, and the housing market is starting to rebound. Let’s take a closer look at what’s happening in the US economy.
Stock market update
The Dow Jones Industrial Average (DJIA) index opened today at 26,034.14, down slightly from yesterday’s close of 26,049.64. The S&P 500 Index (SPX) opened at 2,880.70, also down slightly from its previous close of 2,881.77.
Markets are reacting to a number of factors today, including the ongoing trade war between the United States and China, as well as news that the U.S. jobless rate fell to a 49-year low in September.
In corporate news, shares of Amazon are up after the online retail giant announced that it will raise its minimum wage to $15 per hour for all U.S. employees, starting in November.
GDP growth
The US gross domestic product (GDP) grew by 2.3% in the first quarter of 2019, according to the latest figures from the Bureau of Economic Analysis.
This is a slowdown from the previous quarter, when GDP growth was 2.9%. However, it is still above the average for the past decade, which has been around 2%.
The main drivers of growth in the first quarter were consumer spending, government spending and housing investment. Business investment and exports were both weak.
There are concerns that the economy may slow further in the second half of the year, as the effects of tax cuts and government spending start to wear off.
Unemployment rate
As of September 2020, the unemployment rate in the United States was 7.9%, slightly higher than the rates seen in August and July (both 7.8%). Although this is an improvement from the peak of the pandemic in April (14.7%), it is still much higher than the pre-pandemic rate of 3.5%.
Politics
It’s been a busy day in politics today. The US House of Representatives has voted to impeach President Donald Trump, making him the first president in US history to be impeached twice. The vote came after days of debate on whether to impeach the president for his role in the Capitol riot on January 6th.
Trump’s latest tweets
Donald Trump has taken to Twitter to criticize Nancy Pelosi and Chuck Schumer for their stance on the border wall.
In a series of tweets, the president said that the Democrats “don’t want money for the wall” and accused them of “playing games.”
He also said that the wall is needed to stop “the onslaught of drugs and people” coming into the country.
The tweets come as negotiations over funding for the wall have stalled, leading to a partial government shutdown.
The Mueller investigation
The Mueller investigation is a Special Counsel investigation led by Robert Mueller into Russian interference in the 2016 United States elections, including any links and/or coordination between the Russian government and individuals associated with the campaign of President Donald Trump.
The midterm elections
The United States midterm elections will be held on Tuesday, November 6, 2018. All 435 seats in the United States House of Representatives and 34 of the 100 seats in the United States Senate will be up for election. 39 state and territorial governorships, as well as numerous other state and local elections, will also be contested.
Technology
The US technology sector is on the rise with new innovative companies and products. This week, we’ve seen a new smartphone released, a new social media platform launch, and a new AI technology unveiled. Let’s take a look at each of these stories in more detail.
Latest iPhone release
The iPhone 11, 11 Pro, and 11 Pro Max are the latest phones from Apple. They were released on September 20, 2019. The biggest new features of the iPhone 11 series are the new camera systems. The iPhone 11 has two cameras, while the iPhone 11 Pro and 11 Pro Max have three cameras. The new cameras allow for better low-light photography, improved video quality, and a new feature called “Deep Fusion,” which Apple says improves photos taken with the phone’s main camera.
Google’s new algorithm
Google’s new algorithm, Hummingbird, is designed to provide more accurate and relevant results to users’ queries. The change is the biggest since 2001, when the company introduced its PageRank system.
Hummingbird takes into account the user’s intent and context when returning results, so that results are more relevant to the user’s query. For example, if you search for “Where can I buy coffee,” Google will return results for coffee shops near you.
The company says that the majority of searches will not be affected by the change, as most queries are still matched with traditional keyword-based algorithms. However, Hummingbird will have a significant impact on long-tail and complex queries that are not well served by keyword-based algorithms.
Hummingbird is just one of many changes that Google has made to its search engine in recent months. The company has also introduced new features such as Knowledge Graph and Google Now, which provide more information to users without them having to leave the search engine page.
Amazon’s new drone delivery service
Amazon has announced a new drone delivery service that it says will allow customers to receive packages within 30 minutes of ordering them. The service, which is currently only available in the United States, will use a network of small drones to deliver packages weighing up to 5 pounds (2.3 kg).
To use the service, customers will need to have an Amazon account and be within range of one of the company’s fulfillment centers. Once an order is placed, a drone will be dispatched from the nearest center and will deliver the package to the customer’s home.
The service is currently only available to Prime members, but Amazon says it plans to make it available to all customers in the near future.
Business
The stock market is down today, with the Dow Jones Industrial Average falling more than 250 points. The S&P 500 and Nasdaq are also down. This comes after a strong jobs report from the Labor Department on Friday.
Walmart’s new store opening
Walmart is set to open a new store in the United States. The new store will be located in Texas and is set to open its doors to customers on October 15th. The store will offer a variety of products and services, including a grocery section, a pharmacy, and a vision center.
Coca-Cola’s new marketing campaign
Coca-Cola is revamping its marketing strategy in a bid to boost sales. The company plans to focus on healthy alternatives, including sparkling water and juices. It will also launch a new advertising campaign that features celebrities and influencers.
The soft drink giant has come under pressure in recent years as health-conscious consumers have increasingly turned to alternatives like water and tea. In response, Coca-Cola has been investing in healthier options like Smartwater and Honest Tea.
The company’s new marketing campaign will aim to appeal to millennials and Gen Zers, who are more likely to seek out healthy drinks. In addition to featuring celebrities and influencers, the ads will also focus on issues like sustainability and social responsibility.
Coca-Cola’s president for North America, Jim Dinkins, said that the company is “evolving our marketing to be more purposeful.” He added that the campaign is part of a wider effort to “make a positive difference in the world.”
Ford’s new self-driving car
Ford announced its new self-driving car at a press conference today. The car is designed to operate without a human driver, and will instead be controlled by a computer.
The car has been in development for several years, and Ford says it has undergone extensive testing to ensure its safety. The company plans to begin selling the car in 2021.
Critics have raised concerns about the safety of self-driving cars, but Ford says its car is designed to be “fully autonomous” and will have ” redundant systems” that will make it safe.
