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Meta's latest verdict, space stocks, prediction market legislation and more in Morning Squawk
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Happy Thursday. With their perky ears and pointy teeth, I thought no collectible could have a more unique appearance than Labubus. But after reading about the "Mystery Dumpling," I stand corrected.
Here are five key things investors need to know to start the trading day:
In a high-profile trial focused on social media addiction, a Los Angeles jury yesterday found that Meta and Google's YouTube failed to warn users of dangers associated with the use of their platforms. It's just one of several cases this year that experts are calling the social media industry's "Big Tobacco" moment.
Tech stocks today: Big Tech stocks sell off as Meta, Google held liable for addiction harm
Tech stocks continued to be pressured on Friday after a sell-off in social media stocks and chip stocks sent the tech-heavy Nasdaq Composite (^IXIC) index into a correction.
On Wednesday, a Los Angeles jury found Alphabet’s (GOOG, GOOGL) YouTube and Meta (META) liable for harm done to a young user. The jurors ordered the companies to pay the lead plaintiff $3 million in compensatory damages in the first-of-its-kind case.
Meanwhile, investors continue to evaluate Nvidia’s AI offerings after the company unveiled new AI chips and an agentic AI platform at its developer conference last week.
On Tuesday, Arm (ARM) announced its own entrance into the AI chip market with a new data center chip and server rack, sending the stock more than 12% higher in extended trading.
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The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.
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