Consumer Spending Rose More Than Expected in April
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Reddit Stock Surges After Active Users Jump More Than Expected
Reddit posted higher revenue and a wider loss for the first quarter, as IPO-related costs weighed heavily on the social-media company.The Wall Street Journal - World -
China’s exports return to growth as Beijing prioritises high-tech manufacturing
Xi Jinping’s trade and industrial policy has drawn accusations of dumping from the US and EuropeFinancial Times - World - China -
Reddit Records Bigger-Than-Expected Jump in Users
Daily active users for the social-media company rose 37% to 82.7 million. The company posted higher revenue and a wider loss for the first quarter, hit by IPO-related costs.The Wall Street Journal - World -
China's imports jump 8.4% in April, exceeding expectations as purchases from the U.S. grow
China's customs agency released data Thursday that showed exports rose in-line with expectations in April, while imports surged ahead of forecasts.CNBC - Business - China -
Airbnb beats earnings expectations for first quarter but offers weaker-than-expected guidance
Airbnb reported first-quarter results on Wednesday that beat analysts' estimates.CNBC - Business -
Lenders Are Seeing a Bottom for Consumers
The anticipated return to normal for credit trends may bode well for spending.The Wall Street Journal - World -
Virgin Galactic’s better-than-expected cash burn a positive sign, says KeyBanc
Virgin Galactic Holdings Inc. gave an update on its closely-monitored cash position when it reported its first-quarter results after the bell Tuesday, with the company’s cash burn, in particular, attracting attention.MarketWatch - Business -
Bank of England expected to wait for more evidence that inflation is under control before rate cut
The Bank of England is expected to maintain interest rates at a 16-year high of 5.25% Thursday, but a cut wouldn’t be a huge surprise as inflation falls from multi-decade highsABC News - World -
Intel said its revenue for the current quarter would be lower than expected amid new restrictions on sales by chip makers to Huawei.
Intel said its revenue for the current quarter would be lower than expected amid new restrictions on sales by chip makers to Huawei.The Wall Street Journal - World -
AB InBev said its volumes dropped by less than expected in the first quarter and the brewer backed its guidance after saying that its three-month performance was encouraging.
AB InBev said its volumes dropped by less than expected in the first quarter and the brewer backed its guidance after saying that its three-month performance was encouraging.The Wall Street Journal - World -
U.S. crude oil recovers losses after surprise stockpile decline
Oil prices have fallen 8% since April highs, but Morgan Stanley sees a tighter market heading into summer driving season.CNBC - Business -
1 in 24 NYC residents is a millionaire, more than any other city
If it feels like everyone in New York City is richer than you, it might be because they probably are.CBS News - Top stories -
Applebee’s and IHOP parent suffers rare profit miss as consumers remain cautious
Stock falls premarket as same-restaurant sales for both Applebee’s and IHOP chains fell more than expected.MarketWatch - Business -
Nissan Expects Drop in Annual Profit
The carmaker projected a drop in fiscal-year net profit, citing heightened competition and high inflation, after it posted lower quarterly net profit.The Wall Street Journal - World -
Weekly mortgage refinance demand rose 5% after a slight dip in mortgage rates
Mortgage rates are significantly higher than they were at the start of this year, but they pulled back slightly last week after several weeks of straight increases.NBC News - Top stories - Mortgage -
More than 321,000 children lost a parent to overdose from 2011 to 2021: Study
A new study estimates than more than 321,000 children lost a parent to drug overdose between 2011 and 2021 with the rate of deaths more than doubling in that time frame. The study published in the JAMA Psychiatry medical journal found that an ...The Hill - Politics -
The federal government can do more about home costs than you think
The cost to buy a home is historically high, but Congress and the administration can do much more, experts say.CBS News - Top stories