Amazon unveils new delivery dronePosted: Updated:
The U.S. economy added just 75,000 jobs in May. Economists were expecting payrolls to grow by 180,000. The unemployment rate stayed steady at 3.6%, but average wages grew by just 6 cents compared to April. U.S. stocks jumped Friday in hopes the weak report would encourage the Federal Reserve to cut interest rates.
This year's Apple conference produced several worthy headlines. Apple said it would kill iTunes on Mac computers, introduced a separate app store for the apple watch and announced a $6,000 Mac. Wall Street has been concerned about iPhone demand in China because of the ongoing trade war, but CEO Tim Cook said in an interview this week that China has not targeted Apple and he does not expect China to ban the iPhone.
Beyond Meat has continued to be a standout since it went public last month. The stock continued to skyrocket after reporting earnings for the first time since its IPO. The plant-based food maker said it sees revenue doubling this year. Shares are up more than 400% since their IPO just over a month ago.
Amazon has unveiled its newest delivery drone. The company touted its safety features, saying its computers can automatically detect obstacles and navigate around them. Amazon hopes to have the drones delivering packages within a few months. The e-commerce giant says its ultimate goal for the prime air service is to develop drones to fly as far as 15 miles, delivering packages in under 30 minutes.