For: May 20, 2026
>>Watching Wall Street
(New York, NY) -- The opening bell rings this morning after a down day on Wall Street. Stocks fell in a broad decline as growing inflation fears sent the benchmark 10-year Treasury yield to its highest level in over a year. A slide in tech stocks added to the downward pressure. At yesterday's closing bell, the Dow Jones Industrial Average lost 322 points to 49-363. The S&P 500 fell 49 points to 73-53. The Nasdaq dropped 220 points to 25-870. Investors today will get a look at the minutes of the Federal Open Market Committee's last minute and they'll be paying close attention to Nvidia earnings when they come out after the bell.
>>Meta Tells Employees To Work From Home On Layoff Day
(Menlo Park, CA) -- Meta's North American employees have been told to work from home today, the day the company plans to lay off an estimated ten percent of its workforce. The job cuts come as the social media and tech giant incorporates more artificial intelligence into its operations.
>>Alphabet And Blackstone Form AI Cloud Venture
(Undated) -- A new partnership between Alphabet and Blackstone will form an AI cloud business venture. Google's Benjamin Sloss has been appointed as the CEO. Blackstone is investing five-billion dollars in equity to bring a 500-megawatt data center online in 2027. Projections see the venture expanding over time with a possible total investment that could reach 25-billion. The venture is also providing custom Google AI chips, known as Tensor Processing Units, or TPUs, which have seen growing demand by organizations that want to increase computing capacity.
>>Disney Sued Over Theme Park Facial Recognition Technology
(Anaheim, CA) -- Disney is being hit with a class action lawsuit over facial recognition technology at its California theme parks. Facial recognition was put in place at Disneyland or Disney California Adventure entrances in April. The lawsuit argues Disney "does not adequately disclose the use of their biometric collection." It adds that a sign at select entrances with a slash through a silhouette that allows guests to avoid the facial recognition isn't enough notice. The lawsuit is seeking at least five-million dollars.
>>Minnesota Becomes First State To Ban Prediction Markets
(St. Paul, MN) -- Minnesota has become the first state to outlaw prediction markets. Governor Tim Walz signed a public safety bill this week prohibiting online platforms where people can bet money on the outcomes of events. Prediction markets get around local sports betting restrictions by selling bets as financial contracts, like commodity markets. Federal authorities filed a lawsuit Tuesday to block the prohibition, arguing prediction markets should be exclusively regulated by federal officials. The Minnesota law takes effect in August.
>>Pending Home Sales Increase 1.4% In April
(Washington, DC) -- Pending home sales rose more than expected in April. The National Association of Realtors says the number of homes under contract increased one-point-four percent last month and rose three-point-two percent on an annual basis. The group's chief economist noted buyers are cautiously optimistic despite growing economic uncertainty and a slight rise in mortgage rates. Pending home sales rose in the Northeast, Midwest and West in April and declined in the Northeast.
