On Thursday, major U.S. indexes closed lower, with the Dow Jones Industrial Average slipping 0.2% to 47,522.12, the S&P 500 falling nearly 1% to 6,822.34.
Online community and discussion platform Reddit (NYSE:RDDT) reported revenue ahead of Wall Streets expectations in Q3 CY2025, with sales up 67.9% year on year to $584.9 million. On top of that, next quarter’s revenue guidance ($660 million at the midpoint) was surprisingly good and 3.3% above what analysts were expecting. Its GAAP profit of $0.80 per share was 53.8% above analysts’ consensus estimates.
A number of stocks jumped in the afternoon session after the release of a cooler-than-expected inflation report fueled optimism for a potential interest rate cut from the Federal Reserve. The September Consumer Price Index (CPI) indicated a 3.0% year-over-year rise, slightly below the 3.1% forecast. Investors viewed this as a positive sign that inflation is moderating, increasing the probability of a more accommodative monetary policy from the central bank. A potential rate cut is seen as a significant catalyst for the tech sector, as lower borrowing costs can enhance profitability and encourage companies to reinvest in growth and innovation. This renewed confidence was reflected in the market's broad gains, with technology and semiconductor stocks leading the charge.
Amazon.com Inc.'s (NASDAQ: AMZN) cloud unit AWS has issued an apology and outlined an explanation for the major outage that affected over 1,000 websites and services on Monday.
In a landmark move that sends ripples through the artificial intelligence and data industries, Reddit (NYSE: RDDT) has initiated two separate, high-stakes lawsuits against prominent AI companies and data scraping entities. The social media giant alleges that its vast repository of user-generated content, specifically millions of user comments, has been illicitly scraped and used to [...]
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q2. Today, we are looking at social networking stocks, starting with Snap (NYSE:SNAP).
