A.M. Edition for May 7. India says it conducted military strikes on sites in Pakistan in retaliation for a deadly militant attack on tourists in Kashmir last month. Journal South Asia bureau chief Tripti Lahiri assesses the risk of the conflict intensifying. Plus, in one of the first signs of detente since the U.S. and China announced tariffs, top Trump administration officials head to Switzerland to meet with Beijing’s economic czar, with both countries facing pressure to re-engage in trade talks. And Cardinals kick off a tense election to select a new pope. Luke Vargas hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices
What military actions did India take against Pakistan?
compounded versions of the drugs had been allowed during an earlier supply crunch. Weight Watchers has filed for bankruptcy. Founded in 1963, the health and wellness company has struggled to adjust to the increased use of drugs for weight loss, despite offering them alongside its legacy food consumption and exercise plans.
Weight Watchers intends to be taken over by the institutions that own its loans and bonds, and its stock will largely be wiped out. U.S. electric vehicle sales declined by 5 percent in April, in spite of 10 percent growth in the broader car market, according to research firm Motor Intelligence. Tesla, which accounts for half of all U.S. EV sales, reported a drop of nearly 13 percent.
though Kia, Hyundai, Ford, and Rivian also saw sales declines. Dealers cited multiple factors for the pullback, from cooling customer interest to fewer promotions and discounts that had juiced sales in the past. Well, we will get more insights into the state of the auto market when used car dealer Carvana reports earnings later today.
Updates are also due from Uber and Walt Disney this morning, and the Federal Reserve will announce its latest interest rate decision at 2 p.m. Eastern. It's widely expected to hold rates steady, though investors will be listening for clues on how policymakers gauge the risks of tariff-induced inflation pressure against the odds of an economic slowdown.
And heads up that we have got a bonus episode coming later today. In the next What's News in Earnings, we'll dig into the latest quarterly results from the aforementioned automotive sector, including how car companies are reacting to President Trump's tariff plans, and whether and when consumers might see higher prices passed along to them.
That'll be in the feed around midday, ahead of our usual PM show tonight. And finally, cardinals will close themselves in the Vatican's Sistine Chapel today to cast their first ballots in the conclave to choose a new pope. Journal editor Stacey Maitry says that after weeks of alliance building and unusually blunt campaigning, all eyes are on this year's frontrunner.
So Cardinal Pietro Parolin is the Secretary of State for the Vatican, which means he's basically the number two official under Pope Francis. And so therefore, you know, if you're looking for somebody who is going to maybe provide a bit of continuity with the previous pope, Parolin is your man.
But the thinking among the experts here and also some of the cardinals is that if Parolin doesn't manage to get enough votes in the early rounds, his candidacy could start to fade. And if his candidacy does fade, then we'll start to see some of the dark horse candidates emerge.
Speaking of dark horses, Stacey says there has been an unusual amount of intrigue around this conclave rivaling a recent Oscar nominated dramatization.
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