The Federal Reserve has maintained its benchmark interest rate at 4.25%-4.50%, marking the third consecutive decision to keep rates unchanged. This aligns with market expectations amid rising inflation and unemployment risks. The Fed's Chairman, Jerome Powell, highlighted concerns over the impact of trade policies, which could elevate inflation and hinder economic growth.
Apple is exploring the integration of AI-driven search capabilities into its Safari browser. This move comes amid potential changes in its partnership with Google, which currently provides the default search engine for Apple devices. Apple's Senior Vice President, Eddy Cue, testified about this during a lawsuit involving Alphabet. The anticipation of AI tools replacing traditional search engines has contributed to a 7% drop in Google's stock.
Microsoft has won an appeal against the Federal Trade Commission regarding its $69 billion acquisition of Activision Blizzard. The Ninth Circuit Court upheld a lower court's decision, allowing the acquisition to proceed.
Disney's stock surged by 10% following a strong second fiscal quarter driven by its theme parks and streaming services. The company has raised its full-year earnings outlook, projecting a 16% increase, surpassing analysts' expectations.
