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Stocks

“Roblox shares drop 22% as company cuts annual bookings forecast on muted player spending”

“…Roblox now expects full-year bookings to be between $4 billion and $4.10 billion, down from its earlier forecast of $4.14 billion to $4.28 billion. Its second-quarter bookings forecast of $870 million to $900 million was also below estimates…” https://www.cnbc.com/2024/05/09/roblox-shares-drop-nearly-30percent-as-company-cuts-annual-bookings-forecast-on-muted-player-spending.html

Economy

“US Trade Deficit Narrows Most on Record on Muted China Imports”

“The gap in goods and services trade narrowed $20.6 billion, or 19.1%, to $87.1 billion, Commerce Department data showed Tuesday. The median estimate in a Bloomberg survey of economists called for an $89.5 billion deficit. The figures aren’t adjusted for… Continue Reading…

Banking, Economy

“FED CUTS RATE BY A QUARTER POINT, CITES ‘GLOBAL DEVELOPMENTS,’ ‘MUTED INFLATION’”

“The Federal Reserve lowered its benchmark rate by a quarter point Wednesday as an insurance policy not against what’s wrong with the economy now, but what could go wrong in the future. It was the first rate cut by the… Continue Reading…