U.S. orders for long-lasting durable goods rebounded in March after a poor showing in the prior month, but shortages of key supplies are still hampering manufacturers as they race to keep up with rising demand from customers. Orders for durable goods rose 0.5% last month. These are products such as electronics, appliances, machines, cars and other transportation equipment meant to last at least three years.
Apple released iOS 14.5, their big new software update for iPhones yesterday. The update adds a lot of new features, such as updates to Siri, Podcasts, Apple News and support for the latest game console controllers. But the one that’s been grabbing headlines is Apple’s new privacy change, which gives users more transparency and control over apps that want to track them for advertising. Facebook in particular has been worried about the privacy change, as it could limit its ability to effectively target ads to iPhone users. Facebook has waged a campaign against the change and appears set to lose revenue as a result of it.
Shares of Tesla are higher after they reported record net income of $438 million in the 1st quarter, as well as earnings of 93 cents per share on $10.39 billion in revenue, which was 74% higher than a year ago.