Luke Vargas

And that's it for What's News for this Tuesday morning. Today's show was produced by Kate Boulivant and Daniel Bach. Our supervising producer is Sandra Kilhoff. I'm Luke Vargas for The Wall Street Journal. And as always, thanks for listening.

And that's it for What's News for this Tuesday morning. Today's show was produced by Kate Boulivant and Daniel Bach. Our supervising producer is Sandra Kilhoff. I'm Luke Vargas for The Wall Street Journal. And as always, thanks for listening.

China's Huawei develops a new AI chip designed to go toe-to-toe with NVIDIA. Plus, Canadians head to the polls in an election dominated by threats from Washington and how one Ohio City, population 265,000, became America's housing goldmine.

China's Huawei develops a new AI chip designed to go toe-to-toe with NVIDIA. Plus, Canadians head to the polls in an election dominated by threats from Washington and how one Ohio City, population 265,000, became America's housing goldmine.

It's Monday, April 28th. I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News, the top headlines and business stories moving your world today. It's almost time for the culmination of earnings season as Microsoft, Meta, Amazon and Apple prepare to report quarterly results in the coming days.

It's Monday, April 28th. I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News, the top headlines and business stories moving your world today. It's almost time for the culmination of earnings season as Microsoft, Meta, Amazon and Apple prepare to report quarterly results in the coming days.

Along with Alphabet, Nvidia and Tesla, those magnificent seven tech stocks were largely responsible for lifting stocks out of the 2022 bear market, but currently they find themselves in a very different situation. So far this year, they've collectively shed $2.5 trillion in market value, with each falling more than 6 percent, and their earnings dominance is expected to diminish.

Along with Alphabet, Nvidia and Tesla, those magnificent seven tech stocks were largely responsible for lifting stocks out of the 2022 bear market, but currently they find themselves in a very different situation. So far this year, they've collectively shed $2.5 trillion in market value, with each falling more than 6 percent, and their earnings dominance is expected to diminish.

According to analysts polled by FactSet, the Mag 7 are on pace for just 16 percent profit growth this year, down from about 37 last year. Microsoft and Meta's results are due on Wednesday, with Amazon and Apple following on Thursday. Meanwhile, just months after the emergence of Chinese AI model DeepSeek dented some investors' faith in the supremacy of U.S.

According to analysts polled by FactSet, the Mag 7 are on pace for just 16 percent profit growth this year, down from about 37 last year. Microsoft and Meta's results are due on Wednesday, with Amazon and Apple following on Thursday. Meanwhile, just months after the emergence of Chinese AI model DeepSeek dented some investors' faith in the supremacy of U.S.

tech, we exclusively report that China's Huawei is developing a new AI chip that aims to rival high-end offerings from U.S. semiconductor giant NVIDIA. And here with more from Singapore is journal tech reporter Lisa Lin. Lisa, this chip, the Ascend 910D, we should note, is still in the early stages of development.

tech, we exclusively report that China's Huawei is developing a new AI chip that aims to rival high-end offerings from U.S. semiconductor giant NVIDIA. And here with more from Singapore is journal tech reporter Lisa Lin. Lisa, this chip, the Ascend 910D, we should note, is still in the early stages of development.

A first batch of the processor isn't even set to be delivered until late next month at the earliest. However, I gather the significance here is namely that there's a perceived market opening, thanks to actions by Washington, and that there's a Chinese company making very concrete plans to try to capitalize on this moment.

A first batch of the processor isn't even set to be delivered until late next month at the earliest. However, I gather the significance here is namely that there's a perceived market opening, thanks to actions by Washington, and that there's a Chinese company making very concrete plans to try to capitalize on this moment.

The road ahead, though, not certain. Far from it, I imagine. Tech promises are not the same as actually delivering on them. What challenges does Huawei have to still overcome to capitalize on this?

The road ahead, though, not certain. Far from it, I imagine. Tech promises are not the same as actually delivering on them. What challenges does Huawei have to still overcome to capitalize on this?

That was journal tech reporter Lisa Lin. And there's a lot besides tech earnings that investors will be watching this week. Updates from Coca-Cola, General Motors, Pfizer, UPS, Starbucks and Visa are due tomorrow. Wednesday will bring an update on the Fed's preferred inflation gauge, along with an initial reading of U.S. first quarter GDP.

That was journal tech reporter Lisa Lin. And there's a lot besides tech earnings that investors will be watching this week. Updates from Coca-Cola, General Motors, Pfizer, UPS, Starbucks and Visa are due tomorrow. Wednesday will bring an update on the Fed's preferred inflation gauge, along with an initial reading of U.S. first quarter GDP.

Eli Lilly, MasterCard and McDonald's will report earnings Thursday. The same day, we're due a rate decision from the Bank of Japan and a pair of U.S. manufacturing PMIs. Friday, we'll see quarterly updates from oil majors Chevron and Exxon. along with the first monthly U.S.

Eli Lilly, MasterCard and McDonald's will report earnings Thursday. The same day, we're due a rate decision from the Bank of Japan and a pair of U.S. manufacturing PMIs. Friday, we'll see quarterly updates from oil majors Chevron and Exxon. along with the first monthly U.S.