The U.S. economy grew at a much stronger-than-expected pace in the second quarter, powered by a turnaround in the trade balance and renewed consumer strength, the Commerce Department reported Wednesday.Gross domestic product, a sum of goods and services activity across the sprawling U.S. economy, jumped 3% for the April through June period, according to figures adjusted for seasonality and inflation.That topped the Dow Jones estimate for 2.3% and helped reverse a decline of 0.5% for the first quarter that came largely due to a huge drop in imports, which subtract from the total, as well as weak consumer spending amid…
Author: usaeverydaylife
The Ford display is seen at the New York International Auto Show on April 16, 2025.Danielle DeVries | CNBCFord Motor is set to report its second-quarter earnings after the markets close Wednesday as investors watch for any changes to its full-year guidance, which the automaker suspended in May due to President Donald Trump’s auto tariffs.Ford at that time predicted a $2.5 billion impact from tariffs this year but said it would be able to offset $1 billion of that total through mitigation efforts.Trump’s 25% tariffs on imported vehicles and many auto parts remain in effect. While the Trump administration has…
Wall Street remains bullish on Meta Platforms’ longer-term strategy, but analysts remain watchful of how the company’s artificial intelligence efforts could weigh on its second-quarter results out Wednesday. Meta shares have rallied 20% this year through Tuesday, more than twice the return in the S & P 500, as concerns about economic growth, inflation and tariffs have dissipated. Of the 77 analysts covering Meta, 63 rate it either either a buy or a strong buy. Only seven have a hold rating. While sentiment remains strong, some analysts expect Meta’s recent AI spending spree and $14.3 billion ScaleAI investment to potentially…
Geothermal energy has been used for thousands of years, powering heating systems as early as the 14th century. It’s getting a big upgrade.Beyond geothermal, there’s superhot geothermal, which uses ultra-deep drilling to access extremely hot rocks, extracting 5 to 10 times more power per well.Quaise Energy, a Massachusetts-based startup, is in the market developing the technology, which involves an electromagnetic beam that vaporizes rock. The company’s systems are able to reach superhot geothermal energy up to 12 miles below the service of the earth.Temperatures that deep can reach 500 degrees Celsius, or over 930 degrees Fahrenheit.”To access the resource at…
Check out the companies making the biggest moves midday: Harley-Davidson — The motorcycle manufacturer rallied 16% after the company announced a partnership between its financing arm and private asset manager KKR as well as Pimco. “This partnership transforms [Harley-Davidson Financial Services] into a capital-light financing business through the sale of existing and future retail loans while maintaining its strategic value,” Harley-Davidson said in a statement. Wingstop — The chicken wing chain rallied more than 22% after the company posted second-quarter results that beat analyst expectations. Wingstop reported adjusted earnings of $1 per share on revenue of $174.3 million. Analysts polled…
Microsoft CEO Satya Nadella speaks at an event commemorating the 50th anniversary of the company at Microsoft headquarters in Redmond, Washington, on , April 4, 2025.David Ryder | Bloomberg | Getty ImagesMicrosoft is scheduled to report fiscal fourth-quarter results after markets close on Wednesday.Here’s what analysts are expecting, according to LSEG consensus:Earnings per share: $3.37Revenue: $73.81 billionThe estimates imply around 14% year-over-year revenue growth for Microsoft, the world’s No. 2 company by market cap. Revenue in the same period a year earlier came in at $64.73 billion.Like technology rivals Alphabet and Amazon, Microsoft has been rushing to add data center…
(This is an actual research report from Tom Lee’s FS Insight by Fundstrat, reprinted for CNBC Pro subscribers with permission. CNBC readers get 15% off FS Insight by Fundstrat — Tom Lee’s premium market research — plus a 30-day free trial. Click here to claim your exclusive offer.) For the past 2 days, equities have risen at the open, only to see stocks fade through the day and close down. This is what Mark Newton, Head of Technical Strategy, calls a “bearish engulfing” pattern. That sounds ominous, but it really means that stocks are digesting gains. Month to date, S…
U.S. Senate Minority Leader Chuck Schumer (D-NY) ) holds a press conference following the weekly caucus lunch on Capitol Hill in Washington, D.C., U.S., July 29, 2025. Kent Nishimura | ReutersA group of Senate Democrats on Wednesday cited an obscure law to ask the Justice Department to hand over criminal investigative files related to sex offender Jeffrey Epstein to the Senate Homeland Security and Governmental Affairs Committee by Aug. 15.The request is the latest salvo in an effort by Democrats and some Republicans in Congress to press the Trump administration to release the so-called Epstein files after reneging on its…
As Robinhood investors await second-quarter earnings, expectations are sky-high.The online broker, known for popularizing stock and crypto trading with young investors, has seen its shares surge 177% this year, outpacing all other U.S. tech companies valued at $5 or more, excluding those that went public in 2025. The next best performer is Palantir, up 107%.Robinhood’s pop this year follows a 192% rally in 2024. The company’s market cap now sits at $91 billion, putting it slightly behind Coinbase, one of its top rivals in the market for buying crypto.Still, Robinhood was left out of the S&P 500 in the latest…
Customers enter a Starbucks coffee shop in New York, US, on Monday, July 28, 2025. Victor J. Blue | Bloomberg | Getty ImagesWall Street is seeing early signs that Starbucks’ turnaround is taking hold, despite a quarterly earnings miss and another quarter of shrinking same-store sales.”The focus for Starbucks’ third fiscal quarter was less on the results (which were below Street expectations) and more on proof points on the pace of the potential recovery ahead,” William Blair analyst Sharon Zackfia wrote in a note to clients Wednesday.The company reported weaker-than-expected earnings for its fiscal third quarter on Tuesday evening. Its…
