US GDP falls 1.4% as economy contracts for first time since pandemic began

US gross domestic product decreased at an annual rate of 1.4% in the first quarter as supply disruptions weighed on the economy, although solid consumer and business spending suggests growth will resume. The decline in U.S. gross domestic product marked a sharp reversal from a 6.9% annual growth rate in the fourth quarter, the Commerce … Read more

US stocks hold gains in choppy trade after Facebook parent’s results; GDP disappoints

U.S. stocks tried to hold on to early gains on Thursday, with the Nasdaq Composite briefly dipping into negative territory after a jump that followed results from parent Facebook meta platforms that weren’t as bad as expected. Investors also initially brushed off data that showed the US economy contracted unexpectedly in the first quarter. What … Read more

US GDP contracted 1.4% in the first quarter of 2022

Placeholder while loading article actions The U.S. economy unexpectedly contracted at an annualized rate of 1.4% in the first three months of 2022 after more than a year of rapid growth, according to a Bureau of Economic Analysis report released Thursday. The new data is fueling worries about a recession amid continued inflationary pressures and … Read more

Dow Jones rallies as Facebook soars 18% on earnings; Apple revenue due

The Dow Jones Industrial Average rallied on Thursday after Wednesday’s stock market rebound failed. Tech giant Metaplatforms (Facebook) soared more than 18%. Meanwhile, PayPal (PYPL), Qualcomm (COMQ) and Twitter (TWTR) were the main drivers of earnings early Thursday. Apple’s earnings are due after closing. X Dow Jones Stocks caterpillar (CAT) and McDonald’s (MCD) reported earnings … Read more

Elon Musk jokes that he will buy Coca-Cola to “get cocaine back”

Elon Musk said he was “buy Coca-Cola to hand over cocaineas he joked about what he plans to do after his $44 billion acquisition of Twitter. During a Wednesday night chat session with his 87 million Twitter followers, Musk then reposted a meme suggesting he should buy McDonald’s in order to fix the restaurant chain … Read more

Comcast (CMCSA) Q1 2022 Results

Brian Roberts, Chairman and CEO of Comcast Corp. Patrick T. Fallon | Bloomberg | Getty Images Comcast reported first quarter results Thursday that beat analyst estimates on the top and bottom lines. Shares of the company fell 3% in premarket trading, after initially rising 5% in the report. Here are the key numbers: Earnings per … Read more

5 things to know before the stock market opens Thursday, April 28

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Nasdaq futures soar as stocks look to get back on track The Nasdaq MarketSite in New York. Michael Nagle | Bloomberg | Getty Images Nasdaq Futures Contracts rebounded nearly 2% on Thursday, boosted by a 14% rise … Read more

PYPL stock rises as Mull analysts lower 2022 forecast as ‘compensating event’

Analysts wonder if the worst is over for PayPal Credits (PYPL) following March quarter earnings that hit Wall Street targets and lowered 2022 guidance. PYPL stock rose on Thursday after hitting a fresh 52-week low ahead of its first-quarter earnings release. . X After the market closed Wednesday, the e-commerce company said March quarter earnings … Read more

Meta, Teladoc, Pinterest, Qualcomm and more

A woman holds a smartphone with the Meta logo in front of Facebook’s new Meta logo displayed in this illustration photo taken on October 28, 2021. Dado Ruvic | Reuters Find out which companies are making headlines on Thursday ahead of the market. Meta – Shares of parent Facebook soared more than 16% in premarket … Read more