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Related media - Recent news The U.S. economy posted robust growth in the second quarter, driven by strong consumer and government spending, along with a significant increase in inventories, according to an initial estimate from the Commerce Department released Thursday. From April to June, real gross domestic product (GDP), which measures the value of all goods and services produced, grew at an annualized rate of 2.8% after adjusting for seasonality and inflation. That beat the 2.1% growth forecast by economists polled by Dow Jones and improved from the 1.4% growth in the first quarter. The first of three estimates highlighted the significant contributions of consumer spending, private inventory investment, and nonresidential fixed investment to GDP growth. Personal consumption expen...

Related media - Latest news Here are some stocks that saw significant moves in after-hours trading: Dexcom Dexcom shares jumped after their quarterly earnings report beat Wall Street expectations. The company, known for its continuous glucose monitoring systems, reported stronger-than-expected revenue growth, fueling investor optimism and sending the stock up 7%. Lane Online learning platform Coursera saw its shares rise 5% after reporting better-than-expected revenue and user growth. The company cited increased enrollment and partnerships with educational institutions as key factors contributing to its positive performance. Deckers outdoors Deckers Outdoor, the parent company of popular brands like UGG and Teva, has seen its stock price rise 4%. The boost came after t...

Related media - Recent news Wall Street’s most reliable recession indicator started signaling trouble in 2022 and hasn’t stopped since, but so far it has proven wrong every time. The yield on 10-year Treasuries has been lower than that of many shorter-term bonds, a scenario known as an inverted yield curve, which has historically preceded nearly every recession since the 1950s. Traditionally, an inverted yield curve suggests a recession within a year or two. However, not only has a recession not occurred, but U.S. economic growth remains stable. This has led many on Wall Street to wonder why this once-reliable indicator has proven wrong this time and whether it still signals economic danger. "So far, he hasn't predicted a recession," said Mark Zandi, chief economist at Moody's Analyt...

Related media - Breaking news Federal Reserve Chairman Jerome Powell will speak at the Economic Club of Washington, D.C., on Monday, providing insights into the central bank's interest rate policy and the broader economic landscape. Powell will engage in a discussion with David Rubenstein, president of the Economic Club and co-founder of The Carlyle Group. The move marks Powell’s first public comments since Thursday’s Consumer Price Index (CPI) report, which showed monthly prices for June falling. During his two-day testimony on Capitol Hill last week, Powell said the Federal Reserve now sees the risks of rising inflation and a slowing economy as more balanced. He also said the central bank does not need to wait for inflation to hit its 2% target before considering rate cuts. The Fed...

Related media - Latest news Tesla’s U.S. electric vehicle market share fell below 50% for the first time in the second quarter of the year, according to recent estimates from research firm Cox Automotive. Tesla’s share fell to 49.7% from 59.3% in the same period last year. The decline is notable as battery-powered vehicle sales have hit record highs during the same time frame. From April to June, Tesla faced increasing competition from General Motors, Ford, Hyundai, and Kia. Cox Automotive estimates, based on filings, company reports, and other data, highlight this shift. The latest quarter marks a significant milestone, as it is the first time Tesla’s market share has fallen below 50% in a single quarter. Despite Tesla's decline in market share, overall U.S. electric vehicle sales i...

Related media - Breaking news David Ellison’s Hollywood journey has been filled with high-energy, adrenaline-filled blockbusters filled with suspense, stunts and unexpected twists. But on Sunday, he achieved his most significant milestone by negotiating a merger with Paramount after months of discussions with the company and its largest shareholder, Shari Redstone. If the deal goes through, he will oversee a vast media empire that includes CBS, MTV and the Paramount movie studio. Although Ellison, 41, has been among Hollywood's elite for over a decade, he's only just now entering the spotlight. Here's a rundown of his career. Who is David Ellison and what is Skydance? A look at Ellison's Internet Movie Database page reveals a modest acting career with minor roles in films such as "Fl...