The U.S. economy grew at a 1.3% annualized rate in the second quarter based on June data on domestic durable goods orders and advance goods trade, the Atlanta Federal Reserve's GDPNow forecast model showed on Thursday.
U.S. stocks fell on Thursday after a handful of mixed earnings reports pointed to a slowing global economy, and as the European Central Bank chief's comments on monetary policy failed to impress investors.
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Oil rose more than $1 on Thursday amid Middle East tensions and a big fall in U.S. crude stocks, but prices faced downward pressure from weak manufacturing data in Western nations indicating slowing economic growth that could reduce fuel demand.
Dow Inc forecast current-quarter revenue below analyst expectations on Thursday and said it would cut 2019 spending as chemical companies grappled with the prolonged U.S-China trade dispute and an oversupply of chemicals used to make plastics.
Here are the biggest calls on Wall Street on Thursday
American Airlines Group Inc and Southwest Airlines Co warned on Thursday of an increasing financial toll from the prolonged Boeing 737 MAX grounding this year even as strong bookings and higher fares helped drive quarterly revenue growth.
Shares of Tesla Inc sank 11 percent on Thursday, on course to knock more than $5 billion off the electric carmaker's market value, a day after it disappointed Wall Street by softening its language on turning a profit this year.
SoftBank Group Corp announced on Friday a second Vision Fund aimed at investing in technology firms, saying it has secured memoranda of understanding (MOU) for about $108 billion from companies including Microsoft Corp .
Asian share prices dropped on Friday following mixed U.S. earnings reports and after the European Central Bank unexpectedly held interest rates steady, while the euro held above two-year lows struck overnight.
SoftBank Group Corp announced on Friday a second Vision Fund aimed at investing in technology firms, saying it has secured memoranda of understanding (MOU) for about $108 billion from companies including Apple Inc and Microsoft Corp .
Australia said it would establish the world's first dedicated office within an antitrust regulator to police Facebook Inc and Google , setting a precedent for global lawmakers grappling with the U.S. technology giants' dominance.
Australia's antitrust watchdog will be strengthened with a special branch to oversee the market power of U.S. technology giants Facebook and Google under sweeping regulatory reforms proposed by the government on Friday.
Alphabet Inc shares rose about 8% after the company reported quarterly results that eased investors' concerns about growth challenges facing its Google advertising business.
Oil prices fell on Friday after a Reuters poll showed global economic growth is likely to slow further amid the U.S.-China trade war, although losses were limited by tensions in the Middle East.