Wall Street was set to open higher on Friday, lifted by robust earnings from Google-owner Alphabet and Intel, and data that showed the U.S. economy slowed lesser than expected in the second quarter.
U.S. economic growth slowed less than expected in the second quarter as a surge in consumer spending blunted some of the drag from declining exports and a smaller inventory build, which could further allay concerns about the economy’s health.
U.S. economic growth slowed less than expected in the second quarter as a surge in consumer spending blunted some of the drag from declining exports and a smaller inventory build, which could further allay concerns about the economy’s health.
U.S. economic growth in 2018 missed the Trump administration’s 3% target by any measure, which could renew criticism of the White House’s $1.5 trillion in tax cuts.
McDonald’s Corp beat quarterly sales expectations at established U.S. restaurants on Friday, as the world’s largest burger chain benefited from remodeled stores and new deals, including the 2 for $5 Mix and Match offer.
Alphabet Inc on Thursday acknowledged a broader U.S. Department of Justice antitrust review of large technology firms and said it will continue to engage with the regulator.
Twitter Inc posted better-than-expected second-quarter revenue on Friday and an uptick in daily users who see advertisements on the site, driven by changes to show users more relevant content, sending its shares up nearly 5%.
Robust earnings from Google-owner Alphabet and Intel lifted U.S. stock index futures on Friday, as investors await data that is widely expected to show that the domestic economy grew at its slowest pace in over two years in the second quarter.
Huawei Technologies [HWT.UL] on Friday released its first 5G phone in China and said it would soon launch smart TVs equipped with its own Hongmeng operating system.
Twitter Inc posted a better-than-expected second-quarter revenue on Friday and an uptick in daily users who see advertisements on the site, driven by changes to show users more relevant content.
Automakers are accelerating the rollout of technology designed to avoid crashes, but insurance companies are waving a caution flag at consumers eyeing discounts for buying collision-avoiding brakes or automated cruise control.
American delivery firm FedEx Corp likely withheld more than 100 packages of Huawei, a report said, while the Chinese tech giant also blamed U.S.-listed Flex for seizing its goods, as Sino-U.S. tensions further strain business ties.
European stocks staged a tentative recovery on Friday as solid earnings at several U.S. companies helped investors overcome the disappointment of the European Central Bank’s failure to deliver immediate policy easing.
Oil prices rose on Friday and were on track for a weekly increase as geopolitical tensions over Iran remained unresolved, although flagging prospects for global economic growth amid the U.S.-China trade war capped gains.
Renault warned revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal.
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