Nvidia revenue soars 106%, beats expectations as AI chips stay in high demand

Wednesday, August 26 by ABC News

(NEW YORK) -- Nvidia surpassed Wall Street expectations for revenue over a recent three-month period, the company said on Wednesday, demonstrating strong performance as a data center boom drives demand for the company's advanced artificial intelligence chips.The California-based company recorded $96.2 billion in sales... Read More.

Trump’s proposed tariffs on Canada hurtle toward deadline amid trade talks

Friday, August 21 by ABC News

(WASHINGTON) -- President Donald Trump's 50% tariffs on some Canadian goods are set to take effect early Saturday morning, just days after he pushed back a previous deadline while the two sides negotiated a trade agreement.Trump claimed earlier this week the United States had... Read More.

Trump-linked crypto venture World Liberty Trust granted bank status in unprecedented move for president

Monday, August 17 by ABC News

(WASHINGTON) -- A Trump-appointed national bank regulator granted a wing of the Trump family's crypto business conditional approval to establish a bank charter, opening the door for larger clients and potentially heightened profits.The decision marks the first time in U.S. history that a company... Read More.

Jobs report shows US unexpectedly lost jobs in July

Friday, August 7 by ABC News

(WASHINGTON) -- The U.S. economy unexpectedly lost jobs in July, demonstrating a wobbly labor market as shoppers continued to withstand a surge of inflation set off by the Iran war.The U.S. lost 23,000 jobs in July, according to the federal government's monthly jobs report,... Read More.

Inflation fell more than expected in June as gas prices eased

Tuesday, July 14 by ABC News

(NEW YORK) -- Inflation dropped more than expected in June as gas prices eased in response to negotiations between U.S. and Iran over the Middle East conflict.Prices rose 3.5% in June compared to a year earlier, marking a retreat from a year-over-year... Read More.

Do heat waves damage the economy? Experts explain

Wednesday, July 8 by ABC News

(NEW YORK) -- A heat wave blanketed a vast swathe of the United States over the 4th of July weekend, threatening the health of tens of millions of people and the power supply for thousands of homes.A lesser-known risk of extreme heat, meanwhile, may... Read More.

Oil prices climb and stocks fall after Trump says he thinks Iran agreement ‘over’

Wednesday, July 8 by ABC News

(NEW YORK) -- Oil prices climbed and stocks closed lower on Wednesday after President Donald Trump said he believes an agreement with Iran is "over" amid an exchange of strikes in the Middle East.Brent crude, the benchmark measure for worldwide oil trading, climbed... Read More.

SpaceX joins the Nasdaq 100, clearing way for potential investment influx. Here’s what to know

Tuesday, July 7 by ABC News

(NEW YORK) -- Elon Musk-led rocket and AI company SpaceX joined the Nasdaq 100 on Tuesday, clearing the way for a potential influx of investment as funds pegged to the major index were expected to add the firm.SpaceX will all but certainly become... Read More.

Microsoft is laying off 4,800 workers: ‘AI is changing how work gets done’

Monday, July 6 by ABC News

(NEW YORK) -- Microsoft said on Monday it will lay off 4,800 employees and that the job cuts would be especially pronounced in its Xbox department.The layoffs will affect 2.1% of Microsoft's global workforce, Amy Coleman, executive vice president and chief people officer, said... Read More.

Mortgage rates fall to lowest level since May

Thursday, July 2 by ABC News

(NEW YORK) -- Mortgage rates have dropped to their lowest level since May as negotiations between the United States and Iran ease financial markets.The average interest rate on a 30-year fixed mortgage stands at 6.43%, down from last week's rate of 6.49%,... Read More.