Morning Business Report: Higher cookout costs, big deals & record box office

According to Rabobank's annual Barbecue Index, the average cost to feed ten people has climbed to $103, a 4.2% increase from 2024.

(LILAMAX)-Hosting a cookout will hit your wallet harder this year. According to Rabobank’s annual Barbecue Index, the average cost to feed ten people has climbed to $103, a 4.2% increase from 2024. Leading the surge is the price of beef hot dogs, which are up nearly 19% compared to last year.

Pharmaceutical giant Eli Lilly is acquiring SiteOne Therapeutics in a deal worth up to $1 billion. The acquisition gives Lilly access to an experimental non-opioid pain treatment, as it pushes to expand alternatives for chronic pain conditions like migraines.

Markets rallied Tuesday following a decision to delay tariffs on the European Union. The Dow gained 740 points, and the Nasdaq rose 2.5 percent, with Tesla leading the charge.

Movie theater stocks soared after the Memorial Day weekend box office hauled in $326 million, the biggest take ever for the holiday. Audiences flocked to theaters for “Lilo & Stitch” and “Mission: Impossible – The Final Reckoning.”

A new survey by Talker Research, on behalf of banking app Chime, found that recent graduates find salary negotiations more anxiety-inducing than breakups. Seventy-one percent say they’re worried about life after graduation. Only 35 percent have ever stuck to a budget, and just 42 percent feel “very sure” about their post-grad plans.