For: April 23, 2025
>>Watching Wall Street
(New York, NY) -- The opening bell rings this morning on Wall Street after stocks closed out yesterday's trading session in positive territory. Stocks rallied with the Dow gaining over a thousand points on reports Treasury Secretary Scott Bessent expects a de-escalation in the tariff fight with China. The major averages surged more than two percent, erasing Monday's steep losses. At the closing bell, the Dow Jones Industrial Average gained 1,016 points to 39-186. The S&P 500 rose 129 points to 52-87. The Nasdaq climbed 429 points to 16-300. Investors today will be keeping an eye out for earnings results from Boeing as well as the latest data on new home sales.
>>IMF Cuts U.S. Growth Forecast Due To Trade Tensions
(Washington, DC) -- The International Monetary Fund is lowering its U.S. economic growth projections to one-point-eight percent for 2025. The IMF cited President Trump's tariffs as the reason for cutting its January forecast by nearly one percent. While not yet calling for a recession in the U.S., the IMF's chief economist said the group now views the odds at 40 percent due to the "negative shock" of reciprocal tariffs. The IMF also cut back its global growth forecast to two-point-eight percent from its previous estimate.
>>Tesla Q1 Results Show Drop In Auto Revenue
(Austin, TX) -- Tesla says its first-quarter financial numbers missed expectations, with automotive revenue dropping 20 percent. Overall profits fell 71 percent in the first three months of the year. The automaker and energy company says total revenue dropped nine percent. Tesla points to updating assembly lines at its vehicle factories for the new Model Y as a reason for the decline. Tesla stock, which has tumbled 41 percent this year, was little changed in extended trading.
>>Musk Says Time at DOGE Will Drop 'Significantly'
(Austin, TX) -- Elon Musk says he'll be spending a lot less time at DOGE starting in May. The Tesla CEO and world's richest man opened his company's earnings call Tuesday saying his time allocation with the department will drop significantly. He added he'll spend a day or two per week working on DOGE -- for as long as President Trump would like him to.
>>Instagram Launches Video Creation App
(Menlo Park, CA) -- Instagram is launching a standalone video creation app. Edits allows users to shoot and edit video using features like background replacement and automatic captioning. Instagram had announced Edits back in January. Edits' features are similar to TikTok's sister app, CapCut. TikTok's future in the U.S. remains uncertain as it's parent company Byte Dance faces a mid-June deadline to sell the app or have it be banned in the country.
>>Countdown To Nintendo Switch 2 Pre-Orders
(Undated) -- Pre-orders of Nintendo's newest gaming console are about to begin. The video game giant says advanced sales of the Switch 2 will start tomorrow. The company pushed back the original date by a couple weeks in order to assess recent tariffs announced by President Trump earlier this month. Nintendo notes that the cost of the system will remain unchanged with an around 450 dollar price tag, or a bundle package with Mario Kart World for nearly 500 bucks. However, accessories for the Switch 2 will see some price adjustments.
