Stocks slip…Jobless claims fall…Twitter posts bigger 4Q profit, monthly user base slips
NEW YORK (AP) – Stock indexes are falling in early trading on Wall Street, weighed down by sharp drops for Twitter and technology stocks. Traders were also disappointed by news that the European Union slashed their growth forecast for the 19 countries that use the euro. Facebook sank after German authorities said the company can’t use customer data from other apps to target ads without the explicit consent of users.
WASHINGTON (AP) – The number of Americans seeking unemployment benefits dropped sharply last week. The Labor Department says weekly applications for jobless aid fell by 19,000 to 234,000, a low level that indicates businesses are holding onto their employees. The less volatile four-week average rose to 224,750.
NEW YORK (AP) – Twitter’s revenue and profit and its daily user base all grew in the final three months of 2018, capping its first profitable year. But its monthly user count slipped and guidance for the current quarter was below expectations, sending shares down 10 percent at the opening bell.
BERLIN (AP) – German antitrust authorities have issued a ruling prohibiting Facebook from combining user data from different sources. They say Facebook “will no longer be allowed to force its users to agree to the practically unrestricted collection and assigning of non-Facebook data to their Facebook user accounts.” Facebook rejects the decision, and will appeal.
WASHINGTON (AP) – Democrats in Congress are calling for a Green New Deal intended to transform the U.S. economy to combat climate change and create thousands of jobs in renewable energy. Newly elected Rep. Alexandria Ocasio-Cortez of New York and veteran Sen. Ed Markey of Massachusetts are teaming up on the plan. They’ve drafted a joint resolution that sets a goal to meet all power demand in the U.S. through clean, renewable and zero-emission energy sources by 2030. Use of wind and solar power would be dramatically increased.