It's a big week for Wall Street as many tech giants will report quarterly earnings later this week. We discuss what to look out for when Facebook, Amazon, Apple, Alphabet, and Microsoft release reports.
Facebook is expected to report big growth thanks to ad revenue. But will concerns over the News Feed and the growing number of fake accounts spook investors? Amazon will likely beat estimates after the company reported record sales during the holiday season. Apple is also expected to beat estimates but questions are swirling about whether the iPhone X is a success or a flop. Alphabet, the parent company of Google, continues to make strides in the hardware space. Investors will be looking to see whether Google can keep up with rival Amazon in the smart home device industry. And finally, Microsoft will likely report a successful quarter thanks to its investment in cloud computing.
Social media platform Reddit has sued the artificial intelligence company Anthropic, alleging that it is illegally “scraping” the comments of Reddit users to train its chatbot Claude.
President Donald Trump wants his “big, beautiful” bill of tax breaks and spending cuts on his desk to be singed into law by Independence Day. And he’s pushing the slow-rolling Senate to make it happen sooner rather than later. Trump met with Senate Majority Leader John Thune at the White House early this week and has been dialing senators for one-on-one chats, using both the carrot and stick to encourage them to act. But it’s still a long road ahead for the bill. Senators want to make changes to protect Medicaid and to make sure some tax breaks become permanent. Elon Musk called the whole bill a "disgusting abomination.”
