WSJ Reporter
Appearances
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
Harriet, as the Commerce Department said today, the U.S. GDP shrank in the first quarter by 0.3 percent. What does that tell us about the health of the economy now?
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
Let's talk about inflation. The Commerce Department also said today that the Personal Consumption Expenditures Price Index, the Fed's preferred gauge of inflation, rose by 2.3%. That's still higher than the Fed's 2% target, but it's the coolest reading since last fall. Does it seem likely that inflation will stay this way?
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
And finally, let's move on to discuss hiring. The ADP National Employment Report showed that hiring in the U.S. private sector slowed markedly in April. 62,000 jobs were created this month, down from 147,000 in March. Economists had expected hiring to slow less sharply.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
That was WSJ Economic Correspondent Harriet Torrey. Thanks so much, Harriet. Thank you. No one is feeling the impact of a hiring slowdown more than the class of 2025. Companies have retreated from plans to boost college graduate hiring this spring. The federal government is contracting, and consulting firms, a potential first employer for many college grads, are also retrenching.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
Personal finance reporter Oyin Adedoyin told our Your Money Briefing podcast why this job market reality isn't quite what soon-to-be grads were expecting.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
The U.S. economy shrank in the first quarter as imports surged ahead of tariffs. Plus, why a growing number of companies are shelving their financial guidance for the quarter ahead.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
To hear more from The Conversation with Oyin, check out tomorrow's episode of Your Money Briefing. Coming up, some U.S. companies are yanking their guidance for the next quarter. More on what that means for them and their investors after the break.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
Automaker Stellantis suspended its full-year guidance today, citing U.S. tariffs and the difficulty in predicting their potential impact on market volumes and the competitive landscape. It's the latest of a number of companies to do so, including General Motors, JetBlue, Snap, and Volvo. For more, I'm joined by WSJ reporter Chip Cutter.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
Chip, I just rattled off a few companies that have pulled their guidance. What do they have in common?
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
What does the lack of forward guidance mean for these companies and for their investors?
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
For the companies that are still offering guidance, how are they doing it amid all this uncertainty?
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
That was WSJ reporter Chip Cutter. Thank you, Chip.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
Microsoft logged double-digit revenue growth in its fiscal third quarter. All three of the company's main business units topped internal projections, led by a 21% revenue increase in its cloud business. Overall profit rose to about $26 billion, up from roughly $22 billion a year earlier.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
And Facebook parent Meta Platforms posted revenue growth in the first quarter and indicated growth would remain steady in the current quarter, squashing concerns that President Trump's tariffs would harm its global digital ads business. The social media giant said its sales grew by 16 percent to more than $42 billion, ahead of analyst expectations.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
And a federal judge orders the release of a Columbia student detained by the Trump administration. It's Wednesday, April 30th. I'm Alex Osola for The Wall Street Journal. This is the PM edition of What's News, the top headlines and business stories that move the world today. The U.S.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
Its net income for the January to March period was $16.6 billion. In other news, Google CEO Sundar Pichai has urged a judge to reject the extraordinary measures proposed by the Justice Department to curtail the company's dominance in online search. The government has proposed to force a sale of Google's Chrome browser and require that Google share user data like search histories with rivals.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
The testimony came during a trial before U.S. District Judge Amit Mehta in Washington, who ruled last year that Google had an illegal monopoly over online search. The judge is now hearing arguments and testimony over what remedy he should impose to restore competition and has said that he plans to rule by August.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
A federal judge in Vermont has ordered the government to release Columbia University student Mohsen Madawi while his case proceeds, saying the Trump administration was threatening to deport legal residents for stating their political views. Madawi, a green card holder, organized pro-Palestinian demonstrations at Columbia.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
Judge Jeffrey Crawford ordered Madawi's release on the condition he return for all court hearings. And Ukraine and the U.S. are expected to sign a deal for access to Ukrainian mineral wealth in the next 24 hours. That's according to Kyiv officials. Central to the agreement is an investment fund that both Ukraine and the U.S. will contribute to and oversee equally.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
President Trump has portrayed the deal as a way for the U.S. to recoup tens of billions of dollars in military aid to Ukraine. But in what appears to be a major concession to Ukraine, the latest draft doesn't require Kyiv to repay past military aid. The U.S. will, however, be able to count new military aid as a contribution to the fund. And that's what's news for this Wednesday afternoon.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
Today's show is produced by Anthony Bansi and Pierre Bien-Aimé with supervising producer Michael Kosmides. I'm Alex Osola for The Wall Street Journal. We'll be back with a new show tomorrow morning. Thanks for listening.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
economy shrank at the start of this year as the trade turmoil started to hit, prompting businesses to stock up on goods from overseas. The Commerce Department said today that the U.S. gross domestic product, the value of all goods and services produced across the economy, had its steepest decline since the first quarter of 2022.
WSJ What’s News
U.S. Economy Shrank as Trade Turmoil Began to Hit
Stocks fell broadly after the release of the data before major indexes paired declines in the afternoon. In the end, major U.S. indexes ended the day mixed. The Dow was up 0.4 percent, the S&P 500 rose 0.2 percent, and the Nasdaq closed down about 0.1 percent. To tell us more about the GDP and other economic data out today, I'm joined by WSJ economic correspondent Harriet Torrey.