Tag Archives: Recovery

Facebook (FB) reported second-quarter earnings after market close on Wednesday, with the recovery across the internet advertising industry helping lift the social media company’s results beyond Wall Street’s expectations.  However, Facebook flagged an expected slowdown in revenue growth, and said that decreased ad targeting abilities following an Apple iOS update would negatively impact results going forward. Shares slid more than 3.5% in late trading.  Here were the main metrics from… Source link

Stocks sank Thursday to give back gains after a record-setting session, with investors nervously eyeing signs that the economic recovery might get derailed. The S&P 500, Dow and Nasdaq were each off by more than 1%. This marked the first time since June that the S&P 500 opened more than 1% lower. A day earlier, the blue-chip index rose to a record closing high for the eighth time in the last nine sessions as concerns over a near-term monetary policy adjustment and sustainably high inflation… Source link

Google is doing various deals with American defense agencies. One unreported contract from 2020 … [+] shows how its cloud and AI tools could prove useful to the Pentagon. (Photo by Drew Angerer/Getty Images) Getty Images Amidst concerns over Big Tech sales of AI technology to the Pentagon, Google furnished the Department of Defense with cloud software and artificial intelligence tools to help the agency deal with the Covid-19 pandemic, according to a previously undisclosed… Source link

A top Federal Reserve policymaker cautioned that skyrocketing home prices could jeopardize progress on recovering the millions of American jobs lost in the pandemic. Federal Reserve Bank of Boston President Eric Rosengren told Yahoo Finance Friday that the hot real estate market is “not at a point where we should be panicked.” But Rosengren said the Great Depression and other downturns were examples of economic expansions that died at the hands of a real estate bubble. “The last thing we… Source link

Bitcoin traded higher after holding support around $32,000 on Thursday. Bearish sentiment is starting to wane as buyers fuel a relief rally from Tuesday’s shakeout low of around $29,000. The cryptocurrency is up about 4% over the past 24 hours, but is still down about 8% over the past seven days. Latest prices Cryptocurrencies: Traditional markets: Bitcoin options expiry Related: DOJ Charges Crypto Seller for Operating Unlicensed Money Transmitting Business As June comes to a close, roughly… Source link

Federal Reserve Chairman Jerome Powell said that the U.S. economic recovery still needs support, despite messaging from the central bank last week that it could pare back its easy money policies sooner than expected. “We have a long way to go,” Powell told the House Select Subcommittee on the Coronavirus Crisis on Tuesday. The Fed chief committed the central bank to doing “everything we can to support the economy for as long as it takes.” Powell highlighted that the labor market is… Source link

As vaccinations increase and the reopening continues, the battered travel industry is getting back in the air. But unsurprisingly, the recovery is once again K-shaped — some sub-sectors are doing much better than others. According to Jefferies senior research analyst Sheila Kahyaoglu, total U.S. airline traffic is around 40% of what it was at the same time in 2019. But the difference between destinations is stark: international is down 67% and domestic is only 22% lower. “International is… Source link

Stock futures opened little changed Thursday evening after a surge during the regular trading day, which saw the major U.S. equity indexes recover some losses after three straight days of declines.  Contracts on the Dow edged higher after the index posted its best single-session gain since March. Contracts on the S&P 500 and Nasdaq were little changed after advancing strongly earlier.  Shares of Disney (DIS) slid after the company posted quarterly revenue that missed estimates, with… Source link

Benzinga The Pandemic Changed Our Money Habits — Here’s Exactly How By Lacey Cobb There’s no doubt that the pandemic has had a significant impact on people’s finances. Millions of people lost their jobs, forcing them to cut back on their spending. For others, spending changes were less about job loss and more about restrictions around what they could spend their money on. A recent Personal Capital survey examined spending during the pandemic. It looked closely at how people’s… Source link

Square (SQ) reported first-quarter earnings that blew past estimates after market close on Thursday, with the payments company’s results boosted by ongoing growth in Cash App and its cryptocurrency offerings. Shares rose more than 1% in late trading.  Here were the main metrics in Square’s report compared to consensus estimates compiled by Bloomberg: As a financial technology company, Square’s growth ballooned over the course of 2020, with consumers increasingly conducting transactions online… Source link