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☆ Affordable luxury: Price-conscious Americans are turning to cheaper steakhouses
▼ + stars: | 2024-06-24 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

So business is booming at Texas Roadhouse and LongHorn Steakhouse, even as Americans pull back elsewhere. And in the three months through May 26, sales at Longhorn Steakhouse locations open at least 16 months rose 4%. An affordable luxuryWhen it comes to steakhouses, Texas Roadhouse and LongHorn Steakhouse are on the cheaper end, noted Jim Salera, a research analyst at Stephens. Patrons sit at a bar and watch sports at a Texas Roadhouse restaurant in November 2023. “Retail demand has been probably a little bit weaker,” said Michael Bailen, senior director of investor relations at Texas Roadhouse.

Persons: Texas, ”, Jim Salera, Salera, you’re, Peter Saleh, They’ve, Scott Olson, Saleh, Rick Cardenas, It’s, Michael Bailen, ” Bailen, “, ’ Organizations: New, New York CNN, Texas, Texas Roadhouse, LongHorn, Longhorn, Darden Restaurants, steakhouses , Texas Roadhouse, Stephens, of America, CNN, Bureau of Labor Statistics, Kroger Locations: New York, Texas, Olive, steakhouses , Texas, Skokie , Illinois, . Texas

☆ 260 McNuggets? McDonald’s Ends A.I. Drive-Through Tests Amid Errors
▼ + stars: | 2024-06-21 | by ( Hank Sanders | ) www.nytimes.com time to read: +1 min

Stop!” two friends screamed with humorous anguish on a TikTok video as an A.I. drive-through misunderstands their order, tallying up 240, 250 and then 260 Chicken McNuggets. In other videos, the A.I. So when McDonald’s announced in a June 13 internal email, obtained by the trade publication Restaurant Business, that it was ending its partnership with IBM and shutting down its A.I. tests at more than 100 U.S. drive-throughs, customers who had interacted with the service were probably not shocked.

Persons: McDonald’s Organizations: IBM Locations: U.S

☆ Fake elector case in Nevada dismissed over venue question, state attorney general vows appeal
▼ + stars: | 2024-06-21 | by ( Associated Press | ) edition.cnn.com time to read: +5 min

Nevada Attorney General Aaron Ford said he’ll take the issue to the state Supreme Court after Clark County District Court Judge Mary Kay Holthus ruled that Las Vegas was the wrong venue for the case. “They’re done,” said Margaret McLetchie, attorney for Clark County Republican Party chairman Jesse Law, one of the defendants in the case. The state Republican Party issued a statement welcoming the court decision, pointing to Ford’s vow to appeal and asking for contributions to continue the court fight. Chattah ran as a Republican in 2022 for state attorney general and lost to Ford by just under 8% of the vote. Also, unlike other states, Nevada did not have a legal challenge pending in courts at the time.

Persons: Donald Trump, Aaron Ford, he’ll, Mary Kay Holthus, we’ll, ” Ford, “ They’re, ”, Margaret McLetchie, Jesse Law, Michael McDonald, Jim DeGraffenreid, Shawn Meehan, Jim Hindle, Eileen Rice, McDonald’s, Richard Wright, Ford, ” Wright, Holthus, Matthew Rashbrook, McDonald, Brian Hardy, Meehan, Sigal Chattah, Chattah, Joe Biden, Kenneth Chesebro, Chesebro, Trump, Biden, State Barbara Cegavske, Cegavske Organizations: LAS VEGAS, Las, Clark County Republican, Democratic, Republican, “, Republican Party, Convention, Ford, Trump, State Locations: Nevada, Clark, Las Vegas, Carson, Douglas, Storey County, Carson City, Reno, ”, Nevada’s Storey, Milwaukee, Arizona, Georgia, Michigan, New Mexico, Pennsylvania, Wisconsin

☆ Why Olive Garden doesn’t want to give discounts
▼ + stars: | 2024-06-20 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

But Olive Garden is holding out. In the quarter ending on May 26, sales at Olive Garden restaurants open at least 16 months dropped 1.5%. Olive Garden has tried to avoid such pushback by keeping its price increases low. “While Olive Garden same restaurant sales were below the industry, same-restaurant guest counts outperformed the industry,” Vennam said. “The way we do it is more sustainable.”Rather than vie for customers with steep discounts, Olive Garden is planning to bring people in by highlighting its regular offerings.

Persons: they’ve, Olive, “ We’re, ”, Rick Cardenas, Olive Garden, Cardenas, Raj Vennam, ” Vennam, Eddie V’s, David Henkes, Technomic, ” Cardenas Organizations: New, New York CNN, Darden, Olive Garden, Olive, LongHorn, Bureau of Labor Statistics, CNN Locations: New York, Applebee’s, Olive Garden’s, Olive

☆ McDonald’s releases a new $5 value meal to combat inflation
▼ + stars: | 2024-06-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —McDonald’s has revealed the details of its highly anticipated $5 value meal, which the fast food chain hopes will rev up sluggish sales and lure back customers who have cut back. Beginning June 25, McDonald’s US locations are selling a “$5 Meal Deal” for a limited time. Word of McDonald’s newest value meal was released last month in the Wall Street Journal, prompting fast food rivals to get a jumpstart on offering similar deals and attract cost-conscious eaters. Burger King, Wendy’s and even Starbucks have rolled out meal deals in recent weeks. The arrival of the McDonald’s meal deal comes at a time when the company is battling the perception that it has become too expensive.

Persons: New York CNN — McDonald’s, ”, Joe Erlinger, Burger, Erlinger, McDonald’s, “, they’re, John Palmaccio Organizations: New, New York CNN, McDonald’s, Street, Mac, ”, Advertising Fund Locations: New York, Memphis, Columbus , Ohio

☆ Former Obama press secretary Robert Gibbs hired to lead Warner Bros. Discovery PR
▼ + stars: | 2024-06-18 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

CNN —Robert Gibbs, a former White House press secretary during the Obama administration, will be joining Warner Bros. Warner Bros. But, like its competitors, Warner Bros. has largely struggled to persuade people to go to the movies this year. And Warner Bros. It won’t be Gibbs’ job to fix the media industry woes that are challenging Warner Bros.

Persons: Robert Gibbs, Obama, Gibbs, “ Barbie ”, Robert, ”, David Zaslav, Zaslav, ” Gibbs, Barack, He’ll, Katie Martin Kelly, Laura Watson, Nathaniel Brown Organizations: CNN, White House, Warner Bros, White, TNT, Discovery, NBA, Warner Bros . Discovery, DC Entertainment, Senate

☆ McDonald’s pulls AI ordering from drive-thrus — for now
▼ + stars: | 2024-06-17 | by ( Erika Tulfo | ) edition.cnn.com time to read: +2 min

CNN —McDonald’s is pulling the plug on artificial intelligence ordering technology it was testing at more than 100 restaurant drive-thru systems in the US, a possible hiccup in the rapid rollout of AI in the fast food industry. The company had worked with IBM to develop and test AI-driven, voice-automated ordering at some of its restaurants. McDonald’s says this is not the end of its AI efforts. McDonald’s is not the only fast-food chain experimenting with AI. Other companies like White Castle tested out an automated drive-thru ordering system in 2021, and Wendy’s expanded its partnership with Google Cloud to roll out its own AI ordering tool in May last year.

Persons: it’s, ” McDonald’s, McDonald’s Organizations: CNN, IBM, McDonald’s, Google

☆ ‘Just too burnt out’: Child care crisis crunches providers
▼ + stars: | 2024-06-15 | by ( Meena Duerson | Tami Luhby | ) edition.cnn.com time to read: +7 min

Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latest annual report. The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high. The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics. Facing a “child care cliff”The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children. My First Adventure Child Care and Preschool serves 60 families but will close this summer.

Persons: Susan Elandt, ” Elandt, I’m, “ It’s, “, Elandt, what’s, ”, Lydia Higgins, Higgins, ” Higgins, she’s Organizations: CNN, Nationwide, of Columbia, US Bureau of Labor Statistics, The Century Foundation Locations: Waupaca , Wisconsin, Wisconsin, Waupaca

☆ 3 risks to global economic growth
▼ + stars: | 2024-06-13 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The World Bank on Tuesday raised its 2024 outlook for global economic growth to hold steady at 2.6%, an increase from its previous projection of 2.4% growth. “Four years after the upheavals caused by the pandemic, conflicts, inflation, and monetary tightening, it appears that global economic growth is steadying,” Indermit Gill, the World Bank’s chief economist, said in a release accompanying the report. Prospects for the world’s poorest economies are even more worrisome.”Here are three risks the World Bank sees. The World Bank said that spillover risk from the Russia-Ukraine war and Israel-Hamas war could curb global growth by pushing up oil prices and shipping costs. Trade tensions are already brewing between some of the world’s biggest global economic engines.

Persons: ” Indermit Gill, Jerome Powell, ”, Ayhan Kose, Danielle Wiener, Bronner, Joe Erlinger, aren’t, TikTok, John S, James L, Donald Trump, Joe Biden’s, Biden Organizations: CNN Business, Bell, New York CNN, Bank, World Bank, European Central Bank and Bank of Canada, US Federal Reserve, European Commission, EU, Bureau of Labor Statistics, McDonald’s, Pew Research Center, Knight Foundation, TikTok Locations: New York, Russia, Ukraine, Israel, India, Mexico, United States, France, United Kingdom, China, Beijing

☆ Even with food prices flattening out, the cost of dining out is still going up
▼ + stars: | 2024-06-12 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

But menu prices, a source of frustration for budget-conscious consumers, are still going up — even as restaurants brag about their discounted meals. In that time prices ticked up 0.2% at limited service spots, which include fast casual and fast food joints. Grocery prices rose 1% in the 12 months through May. The increases, particularly in fast food prices, have caused customers to pull back on spending and complain online, eroding the sector’s reputation for affordability. In February, overall food prices remained flat for the first time since April 2023.

Persons: Joe Erlinger, Justin Sullivan, Rice, Milk Organizations: New, New York CNN, Bureau of Labor Statistics, McDonald’s, KFC, Starbucks Locations: New York, Burger King, Ukraine, Texas

☆ Starbucks joins the value menu wars with a new discounted offer
▼ + stars: | 2024-06-11 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Starbucks is the latest entrant in the value menu wars, joining its rivals in releasing new offers to lure back cash-strapped consumers. The offer, available all day, comes in two options: For $5, a customer can order a tall iced or hot coffee or an iced or hot tea paired with a croissant. For Starbucks, it’s part of broader changes rolling out this summer, which include a new iced coffee blend, updated its app with more accurate ordering times and new promotions. Starbucks is also making tweaks to its two-year-old partnership with Delta Air Lines’ SkyMiles program, which lets customers earn miles on every transaction. Beginning Wednesday, customers will only earn miles on Starbucks account reloads of $25 or more rather than per dollar spent at its cafes.

Persons: There’s, ” David Henkes, Laxman Narasimhan, ” Henkes, Danielle Wiener, Bronner Organizations: New, New York CNN, Starbucks, CNN, Delta Air Locations: New York, Technomic

☆ The forgotten racial history of Red Lobster
▼ + stars: | 2024-06-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

“Red Lobster cultivated Black customers. Red Lobster did not respond to CNN’s request for comment on current customer demographics. Red Lobster was not a “place we frequented a whole lot” in its early days, said Harold Dwight, who graduated two years after Boatwright in 1968. Red Lobster later named one of its signature dishes after King: “Walt’s Favorite Shrimp.” King died last year. Red Lobster brought the “outdoor fried fish experience” indoors, Autry said.

Persons: Clarence Otis Jr, Otis, Mardeio Cannon, ” Clarence Otis Jr, Phelan M, Red, Chris Rock, Nicki Minaj, Minaj, “, Jimmy Fallon, Beyoncé, Hurricane, Marcia Chatelain, ”, Bill Darden, Darden, Beverly Boatwright, Harold Dwight, Dwight, Darden’s, Waycross , Georgia —, ” “, Jim Crow ”, John Fluker, Horace Thomas, Walter King, ” King, “ They’ve, we’ve, Michael Nagle, Robyn Autry, Autry Organizations: New, New York CNN, Red Lobster, Darden, CNN, Sacramento Observer, Darden Restaurants, University of Pennsylvania, Civil, Lakeland, NAACP, Bloomberg, Getty, Wesleyan University Locations: New York, America, Black America, McDonald’s, Lakeland , Florida, Lakeland, Waycross , Georgia, Okefenokee, Waycross, Georgia

The president of McDonald’s USA, Joe Erlinger, pushed back on “inaccurate” reports this week that said the chain had more than doubled its prices on some items over the last decade. But his retort wasn’t exactly reassuring: The average price of a Big Mac is up 21 percent from 2019. Erlinger’s rebuttal underlines the heat that some companies are facing as the news media, politicians and consumers focus on steadily rising prices. Whether persistent price increases reflect price gouging, or simply companies’ own rising costs, is a matter of fierce debate. Either way, one thing is clear: Consumers are becoming fed up.

Persons: Joe Erlinger, McDonald’s, Chris Kempczinski Organizations: McDonald’s, Starbucks, Target, Yum Brands, KFC, Consumer Locations: McDonald’s USA, Pizza

☆ Big oil shareholders could get a lot richer
▼ + stars: | 2024-05-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Big oil just got bigger, and shareholders could soon be getting richer. Dollar Tree will reopen these stores with its own products under its brand beginning in the fall, reports my colleague Nathaniel Meyersohn. Dollar Tree, a national company with mostly suburban locations, primarily offers discretionary merchandise like party supplies and home goods. Dollar Tree also owns Family Dollar, based mostly in cities. Family Dollar has underperformed Dollar Tree and other discount chains in recent years, and it’s closing 975 stores.

Persons: Stewart Glickman, ”, “ it’s, Stewart, Hess, McDonald’s, Joe Erlinger, “, Danielle Wiener, Bronner, they’re, Chris Kempczinski, ” Read, Nathaniel Meyersohn Organizations: CNN Business, Bell, New York CNN, ConocoPhillips, Marathon, Diamondback, Endeavor Energy Partners, “, McDonald’s, America, Mac, ” Locations: New York, multibillion, McDonald’s USA, U.S, Arizona , California , Nevada, Texas, Virginia, West Coast

☆ Fast food deals were off the table. Now they’re roaring back
▼ + stars: | 2024-05-30 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

KFC recently introduced a value menu with meals starting at $4.99. But it’s been a long time since they used discounted meals as a strategy to drive traffic, noted Peter Saleh, restaurant analyst at BTIG. KFC launched its value menu earlier that month. A Burger King spokesperson confirmed to CNN that it plans to offer a $5 meal, without sharing more details. And more deals don’t mean that menu prices are dropping, or even staying the same.

Persons: Burger King, Taco Bell, Jack, Wendy’s, it’s, Peter Saleh, haven’t, ”, we’ve, ” Price, ” Saleh, Chris Kempczinski, “, McDonald’s, Burger, Paul Weaver, Kempczinski, NOA, ” Cowen, Andrew Charles, Eva Marie Uzcategui, McDonald’s “, ” Charles, David Henkes, Josh Kobza, Henkes, BTIG’s Saleh Organizations: New, New York CNN, KFC, BTIG, Street Journal, National Owners Association, Bloomberg, Getty, CNN, Restaurant Brands Locations: New York, Technomic, Burger King

☆ McDonald’s President speaks out on inflation and pricing
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMcDonald’s President speaks out on inflation and pricingCNBC’s Kate Rogers on McDonald’s U.S. President Joe Erlinger’s open letter regarding inflation and the burger chain’s price increases over the years.

Persons: Kate Rogers, Joe Erlinger’s Organizations: McDonald’s U.S

☆ McDonald’s: Our prices haven’t risen as much as you think
▼ + stars: | 2024-05-29 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

New York CNN —McDonald’s has a message for America: Rumors of Big Mac inflation are greatly exaggerated. “The average price of a Big Mac in the U.S. was $4.39 in 2019,” he said. That’s an increase of 21% (not 100%).”What Erlinger wants customers to know is not that high-priced McDonald’s burgers don’t exist at all. Erlinger is fighting back because McDonald’s pricey burgers have become something of a symbol of elevated fast food prices. “It’s imperative that we continue to keep affordability at the forefront for our customers,” McDonald’s CEO Chris Kempczinski said during an April 30 analyst call.

Persons: New York CNN — McDonald’s, McDonald’s, Joe Erlinger, ”, “, they’re, Chris Kempczinski, NOA, Erlinger nodded, —, Jordan Valinsky Organizations: New, New York CNN, America, McDonald’s, Mac, ”, Wall Street Journal, National Owner’s Association Locations: New York, McDonald’s USA, U.S

☆ McDonald’s franchisee owner Scott Rodrick on $5 value meal
▼ + stars: | 2024-05-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMcDonald’s franchisee owner Scott Rodrick on $5 value mealMcDonald's franchisee owner Scott Rodrick joins 'Squawk Box' to discuss how California's $20 minimum wage hike in the fast-food industry has impacted the business, what a $5 value meal means for their business, and more.

Persons: Scott Rodrick

☆ A new Netflix docuseries unravels what it calls a ‘cult’ for TikTok dancers
▼ + stars: | 2024-05-28 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +11 min

CNN —Over two years ago, a 40-minute-long public plea made on Instagram Live rippled across social media. Melanie and Miranda had performed together as the Wilking Sisters, but the family said Derrick had disappeared from their lives. Until then, it’s unlikely that Derrick’s millions of followers would have noticed anything amiss, based on her social media accounts. Melanie Wilking and Miranda Derrick (formerly Wilking) built up a following together on social media platforms including YouTube and TikTok as the Wilking Sisters. They have maintained through social media posts that Miranda's issues with her family are a personal dispute.

Persons: Melanie Wilking, Miranda —, Miranda Derrick —, Melanie, Miranda, Derrick, James Derrick, Ellen DeGeneres, Miranda Derrick, James " BDash, Robert Shinn —, Kevin “ Konkrete ” Davis, BDash, Aubrey Fisher, Kylie Douglas, Davis, Fisher, Douglas, Instagram, Shinn, —, Isaiah Shinn, ”, Hannah, “, Derek Doneen, we’d, Priscylla Lee, Priscylla, Leigh, Melanie Lee, Jessica Acevedo, — Priscylla, Lee, ” BDash, it’s, Robert, Hannah Shinn, James, Matt Winkelmeyer, ” Shinn “, ” Doneen, you’re, God ”, Amy Carlson, Max, God, LHW, Jane Schoenbrun, Caleb Organizations: CNN, YouTube, Netflix, 7M Films, 7M, Internet, Shekinah Church, The Recording, Warner Bros ., Blair, The New York Times Locations: Los Angeles, TikTok, Shekinah, Korean

☆ Morgan Spurlock, Oscar-winning documentarian, dead at 53
▼ + stars: | 2024-05-24 | by ( Tom Page | ) edition.cnn.com time to read: +3 min

CNN —Morgan Spurlock, the filmmaker and former CNN series host whose McDonald’s documentary “Super Size Me” was nominated for an Academy Award, died of cancer complications Thursday, according to his family. Spurlock, who was 53, died in New York, surrounded by family and friends, his brother said in a statement. “It was a sad day, as we said goodbye to my brother Morgan,” Craig Spurlock said. For several years, Spurlock served as host of a popular CNN Original series, “Morgan Spurlock Inside Man.”Born in Parkersburg, West Virginia, the future filmmaker was raised in Beckley, where he graduated from Woodrow Wilson High School. His film “Super Size Me 2: Holy Chicken” was released in 2019.

Persons: CNN — Morgan Spurlock, ”, Spurlock, Morgan, ” Craig Spurlock, “ Morgan, ” Spurlock’s, Osama bin Laden, Homer Simpson, “ Morgan Spurlock, Osama Bin Laden, “ I’ve Organizations: CNN, Woodrow Wilson High School, New York University, Sundance Film, Writers Guild of America, Hulu Locations: New York, McDonald’s, Parkersburg , West Virginia, Beckley, York

☆ Morgan Spurlock, Documentarian Known for ‘Super Size Me,’ Dies at 53
▼ + stars: | 2024-05-24 | by ( Remy Tumin | More About Remy Tumin | ) www.nytimes.com time to read: 1 min

Morgan Spurlock, a documentary filmmaker best known for the Oscar-nominated 2004 film “Super Size Me,” which followed him as he ate nothing but McDonald’s for 30 days, died on Thursday. His brother Craig Spurlock confirmed the death in a statement to The Associated Press, and said the cause was complications from cancer. The statement did not say where he died. In “Super Size Me,” Mr. Spurlock tested the broadly held idea that fast food is unhealthy by gorging on McDonald’s Super Size meals, hamburgers, fries, soda and more for weeks, as he steadily gained weight. The film, which grossed more than $22 million on a $65,000 budget, contributed to a sweeping backlash against the fast food industry.

Persons: Morgan Spurlock, Oscar, Craig Spurlock, Mr, Spurlock Organizations: Associated Press

☆ Strong spending is obscuring an economy that isn’t working for many Americans
▼ + stars: | 2024-05-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —Even after years of inflation, geopolitical chaos and recession in Europe, the US economy remains robust and resilient. Unemployment rose to 3.9% last month, lower-income consumers are spending less and businesses are limiting employee hours and pay. A recent survey by Santander Bank of its customers found that while inflation fears have largely subsided, middle-income Americans are pessimistic about the economy. Those Americans could still be suffering, but their stories are obscured by data that paints a broad picture of a resilient economy. Piepszak, meanwhile, now leads the company’s newly combined commercial and investment bank with her co-CEO Troy Rohrbaugh.

Persons: ”, Gregory Daco, haven’t, Skyler Weinand, Regan, “, ” Nanette Abuhoff Jacobson, Bryan Mena, What’s, Jamie Dimon, Here’s, Dimon, he’s, —, ” Dimon, can’t, “ Dimon, Marianne Lake, Jennifer Piepszak, Piepszak, Troy Rohrbaugh, Rohrbaugh, Mary Erdoes, Jeremy Barnum, Daniel Pinto, COOs Gordon Smith, Smith, Satya Nadella, Bing Organizations: CNN Business, Bell, New York CNN, Regan Capital, Santander Bank, Hartford Funds, Bureau of Labor Statistics, Federal Reserve, JPMorgan, JPMorgan Chase, Bank of America, Microsoft Locations: New York, Europe, Redmond, Washington

☆ Opinion | She Helped Wage the Fight for $15. Where Will Labor Go After Her?
▼ + stars: | 2024-05-20 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

The disappointment is that Henry didn’t manage to increase membership in her own union. In fact, S.E.I.U.’s membership fell to under 1.9 million now from about 2.1 million when she took office. Those workers at McDonald’s, Burger King and other chains who are enjoying higher pay aren’t paying dues to any conventional union. It continues to claim “about” two million members. But in a filing with the Department of Labor in March, the union stated that it had 1,845,500 members, of which 30,015 were retired.

Persons: Mary Kay Henry, Henry, ”, Henry didn’t, Burger King Organizations: Service Employees International Union, National Employment, Department of Labor Locations: United States, McDonald’s

☆ Dow closes above 40,000 for first time ever
▼ + stars: | 2024-05-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

New York CNN —The Dow Jones Industrial Average closed above the 40,000 mark Friday for the first time in its 139-year history. To many Americans, “the Dow” simply means the stock market. Dow 100: The Dow first closed in triple digits in January 1906. Crash of 1929: The Dow fell 38 points on Oct. 28 and 31 more points the next day. Dow 30,000: Nov. 24, 2020: Covid sent the stock market plunging in the spring of 2020.

Persons: ”, Ryan Detrick, “, Hogan, Dow, Teddy Roosevelt, Richard Nixon, Trump, Covid Organizations: New, New York CNN, Dow Jones, Federal Reserve, Bureau of Labor Statistics, Carson Group, Dow, Nasdaq, Riley Financial, CNN, Wall, Microsoft, Chevron, Federal, Woolworth, Eastman Kodak Locations: New York, Chevron —

☆ Dow crosses 40,000 for the first time
▼ + stars: | 2024-05-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —The Dow broke past the 40,000 threshold Thursday morning for the first time ever, fueled by an encouraging inflation report. It also highlights a notable contrast between sentiment on Wall Street and Main Street. Dow 100: The Dow first closed in triple digits in January 1906. The Dow nearly matched that in 2017, rising 25%. Dow 30,000: Nov. 24, 2020: Covid sent the stock market plunging in the spring of 2020.

Persons: Dow, stoking, ”, Gary Pzegeo, John Williams, Tom Barkin, ” Tyler Schipper, Thomas, Hogan, Teddy Roosevelt, Richard Nixon, Trump, Covid Organizations: New, New York CNN, Markets, Federal Reserve, Bureau of Labor Statistics, CIBC Private Wealth, ”, Walmart, Airlines, Big Tech, York Fed, Reuters, Richmond Fed, Dow, University of Michigan, CNN, CPI, University of St, Riley Financial, Wall, Microsoft, Chevron, Traders, New York Stock Exchange, Getty, Federal, Woolworth, Eastman Kodak Locations: New York, United States, Minnesota, Chevron —, AFP

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