Caroline Woods brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Monday, April 22.
Full Video Transcript Below:
CAROLINE WOODS: I’m Caroline Woods reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Stocks are attempting to rebound after a major pullback, and investors are now looking ahead to big tech earnings. Names like Tesla, Microsoft, Apple, and Meta are all slated to release results.
But all eyes will shift to the broader economy Thursday and Friday with the release of first-quarter GDP and key inflation data. These reports will be crucial in determining the health of the U.S. economy.
In other news, TikTok is gearing up for a battle with the U.S. government should it decide to ban the popular social media platform. Earlier in April, House Republicans tied a bill that could ban TikTok to a foreign aid package intended to help Israel and Ukraine.
Should the bill pass, TikTok’s Head of Public Policy for the Americas told employees the company would be ready, saying, “At the stage that the bill is signed, we will move to the courts for a legal challenge,” and that “this is the beginning, not the end of this long process.”
In March, the House of Representatives approved a bill that would force TikTok’s owner, Chinese tech giant ByteDance, to either sell the popular social media platform or have it banned in the United States. Lawmakers remain concerned over TikTok’s potential national security threat because of its ties to the Chinese Communist Party. President Joe Biden has said he would sign the bill if it passed in the Senate.
TikTok has more than 170 million users in the United States.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Caroline Woods with TheStreet.
