Morning Business Report: Markets rise as Kevin Warsh takes over Fed and Boeing lands China deal
Markets moved higher Thursday, helped by optimism surrounding the latest U.S.-China trade summit.
(LILAMAX)- Kevin Warsh is set to be sworn in Friday as the new chair of the Federal Reserve as investors continue closely watching inflation and global economic developments.
Markets moved higher Thursday, helped by optimism surrounding the latest U.S.-China trade summit involving President Donald Trump and Chinese President Xi Jinping. One major outcome from the summit was an agreement for Chinese airlines to purchase 200 American-made Boeing jets.
Meanwhile, technology company Cerebras surged during its initial public offering Thursday, giving the chipmaker a valuation topping $100 billion. The IPO marks the largest public offering in the past seven years.
Retail sales in the United States also continued growing in April, according to new Commerce Department data. Part of that increase was driven by higher gas prices tied to the ongoing conflict involving Iran.
The sports and entertainment industries are also seeing major changes. The NFL has reached a new agreement with Netflix to stream three games each season despite criticism from some fans and lawmakers who want games to remain on free television. Under the deal, Netflix will air games during the opening and closing weeks of the season, along with a Thanksgiving Eve matchup.
Soccer is also borrowing from American football traditions. Organizers say the upcoming World Cup Final at MetLife Stadium in New Jersey will feature a “Super Bowl-worthy” halftime show with performances by Madonna, Shakira and BTS.
Artificial intelligence is also continuing to reshape workplaces across the country.
A new Talker Research survey conducted for Triple-Ten found many Americans still say “please” and “thank you” when interacting with AI tools at work.
Many respondents said being polite improves responses or helps reinforce their own communication habits.
The survey also found workers increasingly view artificial intelligence as more than just software, describing it as a workplace partner.
