Business

Wall St opens higher as oil slips despite Middle East tensions

Tuesday, May 5 by SRN News

May 5 (Reuters) - Wall Street's main indexes rose after market open on Tuesday as oil prices declined despite renewed Middle East tensions that threatened to upend a fragile truce after the U.S. and Iran exchanged fire in the Gulf. The Dow Jones Industrial... Read More.

GameStop’s $56 billion pursuit of eBay stirs social media hype and doubts

Tuesday, May 5 by SRN News

May 5 (Reuters) - GameStop's $56 billion bid for eBay ignited intense debate on social media, as retail investors greeted the potential deal with a mix of excitement, skepticism and meme-stock humor. • Top comments on Reddit were split between enthusiasm over the e-commerce giant... Read More.

Trump’s drugmaker deals may save economy $529B over 10 years, White House says

Tuesday, May 5 by SRN News

WASHINGTON (AP) - White House economists estimate that President Donald Trump's deals with pharmaceutical companies to drop some of their U.S. prescription drug prices to what they charge in other countries could save $529 billion over the next 10 years. The analysis obtained by The... Read More.

US service sector growth cools as order growth drops by most in 3 years

Tuesday, May 5 by SRN News

May 5 (Reuters) - U.S. services sector expansion slowed for a second straight month in April as new order growth dropped by the most in three years and cost input pressures held at the highest since late 2022 amid the steep energy prices arising... Read More.

U.S. job openings were unchanged at 6.9 million in March but hiring improved

Tuesday, May 5 by SRN News

WASHINGTON (AP) - U.S. job openings were essentially unchanged at 6.9 million, another sign the American labor remained sluggish even before the full impact of the Iran war hit the economy. The job market has been up and down so far this year after a... Read More.

Trump’s drugmaker deals may save economy $529B over 10 years, White House says

Tuesday, May 5 by SRN News

WASHINGTON (AP) - White House economists estimate that President Donald Trump's deals with pharmaceutical companies to drop some of their U.S. prescription drug prices to what they charge in other countries could save $529 billion over the next 10 years. The analysis obtained by The... Read More.

GlobalFoundries forecasts upbeat second quarter on data center demand

Tuesday, May 5 by SRN News

May 5 (Reuters) - Specialty chipmaker GlobalFoundries forecast second-quarter revenue above Wall Street expectations on Tuesday, driven by acceleration in data center deployments globally. Shares of the company rose 6% in premarket trading. • The company has benefited from its focus on... Read More.

Frontier Airlines forecasts bigger-than-expected quarterly loss amid soaring fuel prices

Tuesday, May 5 by SRN News

May 5 (Reuters) - Frontier Group, the parent of low-cost carrier Frontier, forecast a bigger-than-expected second-quarter loss on Tuesday, as the war in Iran drives jet fuel prices higher and erodes margins. The airline's shares dropped 3.6% in premarket trading. Airlines around the world have cut... Read More.

Argentina’s auto parts industry feels the pain from Milei’s shock therapy

Tuesday, May 5 by SRN News

By Nicolás Misculin BUENOS AIRES, May 5 (Reuters) - Inside a small, family-run auto parts plant on the outskirts of Buenos Aires, production lines sit quiet. The factory is running below capacity as the firm, Suspenmec, struggles to compete with an influx of cheaper imported parts,... Read More.

US trade deficit widens in March on imports; petroleum exports rise

Tuesday, May 5 by SRN News

WASHINGTON, May 5 (Reuters) - The U.S. trade deficit widened in March as an artificial intelligence investment boom pulled in imports, more than offsetting an increase in exports, which were partly boosted by petroleum shipments amid the Middle East conflict. The trade gap increased 4.4%... Read More.

Current Weather

Wall St opens higher as oil slips despite Middle East tensions

Trump’s drugmaker deals may save economy $529B over 10 years, White House says

US service sector growth cools as order growth drops by most in 3 years

U.S. job openings were unchanged at 6.9 million in March but hiring improved

Trump’s drugmaker deals may save economy $529B over 10 years, White House says

GlobalFoundries forecasts upbeat second quarter on data center demand

Frontier Airlines forecasts bigger-than-expected quarterly loss amid soaring fuel prices

Argentina’s auto parts industry feels the pain from Milei’s shock therapy

US trade deficit widens in March on imports; petroleum exports rise

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