For: May 20, 2025
>Watching Wall Street
(New York, NY) -- The opening bell rings this morning after stocks closed slightly higher to start off the week. Stocks turned positive in afternoon trading as investors looked past Moody's downgrade of the U.S. credit rating. One of President Trump's top economic advisers was quick to defend the country's creditworthiness - White House National Economic Council Director Kevin Hassett saying "make no mistake, the U.S. debt is the safest bet on Earth." At the closing bell, the Dow Jones Industrial Average gained 137 points to 42-792. The S&P 500 added 5 points to 59-63. The Nasdaq rose 4 points to 19-215.
>>China Hits U.S. Over Trade Talks
(Beijing) -- China is accusing the U.S. of undermining a preliminary trade agreement the two countries reached in Geneva. A spokesperson for China's commerce ministry says a U.S. industry warning not to use Chinese-made chips amounted to "discriminatory" practices. Beijing also called on Trump administration to immediately correct its "wrong practices" and stop discriminatory measures against China. High-level trade talks between the two countries on May 10th led to a 90-day pause on most tariffs imposed by Washington and Beijing.
>>NJ Transit Trains Resume Operations Today
(Newark, NJ) -- New Jersey Transit trains start rolling again today following an end to the engineers' strike. Governor Phil Murphy announced over the weekend that an agreement had been reached between NJ Transit and the engineers following a dispute over wages and working conditions. NJ Transit crews spent yesterday on track and safety inspections. Engineers must still ratify the new agreement but Governor Murphy says he has a high degree of confidence that the engineers will find the contract acceptable. The new contract features a pay raise, among other benefits.
>>Mortgage Rates U
(New York, NY) -- It's getting more expensive to buy a home in the U.S. The average interest rate for a 30-year mortgage moved above seven-percent on Monday before dropping back down slightly. It comes after Moody's downgraded the U.S. credit rating last week because of the government's growing debt. Mortgage rates have remained near their 25-year peak.
>>Regeneron Pharmaceuticals Purchasing 23andMe
(Tarrytown, NY) -- Regeneron Pharmaceuticals is purchasing 23andMe through a bankruptcy auction. The drugmaker will purchase the genetic testing firm for 256-million-dollars to acquire all units of 23andMe, except its telehealth service Lemonaid Health. It comes as the company had been struggling with weak demand for its ancestry testing kits, and after a data breach in 2023 that exposed millions of customers' genetic data. The companies expect to close the deal in the third quarter.
>>Spotify Users Can Buy Audiobooks In iPhone App
(Stockholm) -- Spotify users on iPhones will now be able to buy audiobooks directly within the app. The new app update also lets users view audiobook prices and buy additional listening hours. The change comes after a court ruling that Apple has to stop charging fees on purchases made outside the App Store.
>>Cutting Back On Salon Trips
(Undated) -- Americans aren't going to the salon as much because of rising costs brought on by tariffs. That's according to a report this month from consumer analytics platform CivicScience, which found that more than 40 percent of typical salon customers are going less, relying on home treatments. Nearly a quarter have stopped going all together. Half of those surveyed said saving money was the biggest reason.
