Here are the most important news items that investors need to start their trading day:
1. What a drag
U.S. stock markets are on track to finish in losing territory this week as investors weigh sluggish economic data against so-far lackluster earnings from major companies. All three major indices fell Thursday. Tesla, which posted a lackluster earnings report Wednesday evening, declined 10% and was a big drag on the Nasdaq. Lots more earnings are on the way, too. Procter & Gamble reported Friday morning. Next week brings several big names, including General Motors, McDonald’s, Alphabet, Amazon and Boeing. Follow live market updates.
2. Disney vs. DeSantis
Disney isn’t taking any chances in Florida. While Gov. Ron DeSantis comes under fire from even his fellow Republicans for insisting on continuing his crusade against the entertainment giant, Disney is telling its army of lobbyists to work against any bills in the Florida legislature that appear to be targeting the company. At stake is whether Disney can continue self rule in a special district of Florida that includes the company’s Disney World theme park. The company wants to protect its ability to keep doing business in the Sunshine State the way it has been for decades. DeSantis, meanwhile, is gearing up for a potential run for president and has tried to make Disney a political punching bag over its opposition to an education policy critics have dubbed “Don’t Say Gay.” Disney CEO Bob Iger, for his part, has said he’s willing to sit down and talk it through with DeSantis.
3. Starship’s silver linings
SpaceX’s Starship launches from Starbase in Boca Chica, Texas, Thursday, April 20, 2023. The giant new rocket exploded minutes after blasting off on it first test flight and crashed into the Gulf of Mexico.
Eric Gay | AP
SpaceX’s Starship, hyped as the most powerful rocket ever built, took off Thursday in Texas, stunning spectators who were there and those who were watching on screens across the globe. It flew for about…
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