Why MAGA Is Fuming Over Bad Bunny’s Halftime Show
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What impact did Amazon's AI spending have on its stock and the market?
Investors punish Amazon for its AI spending plans and send tech stocks tumbling around the world. Plus, President Trump debuts a government-run drug-buying site in a bid to tackle high prices. You're going to see numbers that you're not going to believe. And we'll go behind the off-field drama ahead of Sunday's Super Bowl. It's Friday, February 6th. 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. Amazon stock is down more than 7% off hours after the company announced a nearly 60% jump in its planned AI spending, far higher than Wall Street had been expecting. At the same time, year over year, cloud computing growth of 24% came in below Microsoft's 39% and Alphabet's 48%.
Amazon has said that growth rates don't fully capture its standing in the industry. And CFO Brian Olsavsky tried to convince investors that AI spending would pay off.
What is TrumpRx and how does it aim to address drug prices?
This isn't some sort of quixotic top line grab. You know, we have confidence that that these investments will yield strong returns and invest in capital. We've done that with our core AWS business, and I think that will very much be true here as well.
But that hasn't satisfied investors, as AI spending concerns feed a wider downturn in European and Asian markets this morning. Korea's tech-heavy index even halted trading at one point as stocks slumped. That follows another sell-off in U.S. software stocks yesterday after Anthropic released a new AI model with upgraded data analysis, coding, and product management functions. Meanwhile, shares of Jeepmaker Stellantis are plunging today to lows not seen since the start of the pandemic. To blame, an announced $26 billion in written-off investments after the company overestimated demand for EVs in the U.S.
What are the implications of the U.S. preparing for a potential strike on Iran?
Those charges exceed similar recent write-downs by Ford and GM. And so much for Jobs Friday. Thanks to the latest government shutdown that ended on Tuesday, investors won't be getting a look at January's jobs report today as scheduled. Instead, the Bureau of Labor Statistics will publish the data on Wednesday, shifting the release of January inflation data to next Friday instead. According to Journal Economics reporter Matt Grossman, investors may need to come to terms with delays to official data, given that four of the last five jobs reports have been delayed in some fashion.
In a broader sense, these numbers have started to look a lot less dependable than they used to. You know, we seem to be in a world now where occasional government shutdown is the rule rather than the exception. And it just gives investors another thing they have to keep on their minds, not just what are the reports going to say, but when are they going to come?
Well, who better to provide insights on the job market than you, our listeners? Whether you're hiring, firing, happily or worriedly employed, looking for a promotion or a new job altogether, we'd love to hear your impressions of the labor market or help to track down an answer to a question on your mind.
How is Bad Bunny's Super Bowl halftime show controversial?
To weigh in, email us a voice memo to WNPOD at WSJ.com. And make sure to include your full name and location so we can use your comments on the show. The White House has launched its new drug-buying website, TrumpRx, in an effort to bring down health care costs for Americans. Roughly 40 drugs are available, from infertility treatments to obesity medicines such as Wegovi and Zepbound. During a press conference Thursday, Dr. Mehmet Oz touted how prices on the site are generally lower than the sticker price.
You should not be buying drugs anymore going forward without at least checking to see if those medications are available at these discounted prices on TrumpRx.gov.
While the site won't change much for insured Americans, it's more likely to benefit the roughly 27 million people without coverage. High-stakes talks between Iran and the U.S. over Tehran's nuclear program have ended after just 90 minutes. The U.S.
What backlash did Bad Bunny face for his comments on immigration?
has amassed air and naval forces near Iran, with President Trump threatening strikes on the country over the mass killing of protesters last month.
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Chapters
8 chapters
1
What impact did Amazon's AI spending have on its stock and the market?
0:03–1:07
2
What is TrumpRx and how does it aim to address drug prices?
1:07–1:59
3
What are the implications of the U.S. preparing for a potential strike on Iran?
1:59–3:10
4
How is Bad Bunny's Super Bowl halftime show controversial?
3:10–4:11
5
What backlash did Bad Bunny face for his comments on immigration?
4:11–5:10
6
How are celebrities influencing public opinion on immigration issues?
5:10–6:11
7
What challenges do Democrats face regarding immigration policies?
6:11–7:12
8
What can we expect from the upcoming Winter Olympics?
7:12–11:35
Speakers
8 identifiedMore from WSJ What’s News
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