For: April 17, 2025
>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning on Wall Street after stocks closed sharply lower Wednesday. At the closing bell, the Dow Jones Industrial Average fell by 699 points to 39-669. The S&P 500 dropped by 120 points to 52-75. The Nasdaq dropped by 516 points to 16-307. Coming up today, we'll be keeping an eye out for weekly jobless claims. Most analysts expect today's numbers to be little changed, coming in at right around 225-thousand versus the previous week's 223-thousand initial requests.
>>Fed Chair: Hints Tariffs Could Impact Inflation, Growth
(Chicago, IL) -- The chairman of the Federal Reserve says he expects inflation to rise and economic growth to slow due to tariffs. Speaking yesterday at the Economic Club of Chicago, Jerome Powell said the Fed may find themselves in a tough situation where their goals to control inflation and support growth in the economy "are in tension."
>>Temu, Shein Warn Of Price Hikes
(Undated) -- Chinese retail sites Shein [[ SHE - in ]] and Temu say their prices are going up next week thanks to President Trump's tariffs. Trump has also ended a duty-free exemption for goods worth less than 800-dollars, which helped bring in some one-point-four billion packages to the U.S. last year. The companies have built an American customer base in the millions because of their low prices.
>>Former COO On The Stand As Meta Anti-Trust Trial Rolls On
(Washington, DC) -- The closely-watched anti-trust trial against Facebook parent company Meta continues today in Washington, DC. After two days of testimony from CEO Mark Zuckerberg, lawyers for the Federal Trade Commission called Meta's former COO Sheryl Sandberg to the stand yesterday. The FTC alleges Meta, under the leadership of Zuckerberg, bought Instagram and WhatsApp to block competition. The outcome of the trial could reshape how big tech companies operate in the future.
>>NYC Beer Delivery Workers Go On Strike
(New York, NY) -- It looks like trouble could be brewing as beer deliveries may be delayed for some time in New York City. Hundreds of unionized beer delivery workers went on strike Tuesday when their union couldn't come to terms on a new contract. The strike could ultimately stall deliveries to thousands of bars and restaurants around New York City. The workers say their big issue is increasing pension benefits.
>>Lyft Agrees To Buy FreeNow
(San Francisco, CA) -- Lyft is venturing over to Europe. The ride-hailing service announced Wednesday that it's acquiring FreeNow. t's a European taxi app which serves nine countries including the United Kingdom, Ireland and Italy. The company is currently owned by German automakers BMW and Mercedes-Benz. Lyft says the deal is worth nearly 200-million dollars and is hoping to close on it later this year.
