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Apr 24, 2019

What's News I Stock Market Records; China Exploits U.S. Satellites; 'Avengers: Endgame'

The Wall Street Journal.
What’s News
Sun icon. Good Morning
Here’s what we’re watching as the U.S. business day gets under way:
S&P 500, Nasdaq climb to fresh records. Stocks have flourished this year—the S&P 500 is up 17% while the Nasdaq has gained 22%—as the Federal Reserve has held interest rates steady and amid renewed optimism about the U.S. economy. In Europe, the Stoxx Europe 600 was down 0.2%. That followed losses across most Asian markets.
  • Twitter shares climb on stout earnings. The social-media company reported record daily users and rising profit, driving shares up as the results signaled recent product tweaks are stabilizing the business.
  • Earnings season continues. Boeing, AT&T and Caterpillar will report before the bell. Facebook, Microsoft, Tesla, Visa and Chipotle will report after markets close. 
Sri Lanka says Easter attackers were inspired by Islamic State. The suicide bombers who carried out Sunday’s coordinated attacks were inspired by Islamic State and may have received funding from the group, Sri Lanka’s defense minister said. ISIS yesterday claimed responsibility for the attacks.
Treasury Department misses deadline on Trump's taxes. The Treasury Department declined to turn over the president's tax returns by a deadline set by a key House Democrat, a decision that escalates a battle over the documents and could prompt a court fight. Treasury Secretary Steven Mnuchin said the department would give a final answer by May 6.
SoftBank founder bit by Bitcoin. Masayoshi Son made a huge personal bet on bitcoin just as prices for the digital currency peaked, losing more than $130 million when he sold out, according to people familiar with the matter.
  • Softbank plans to invest $1 billion in Wirecard. The digital-payments company has been a darling of the German stock market in recent years.
Avengers: Endgame prompts 24-hour screenings, double the popcorn. When Disney’s latest Avengers installment opens tomorrow night in the widest release ever—4,600 theaters in the U.S. and Canada—the Marvel Studios’ superheroes will muscle competitors out of the multiplex. 

First class vs. coach: A game of square inches. Which part of the plane gets you the most bang for your buck? You might pay three times as much for 45% more space, writes the Journal's Scott McCartney. 

What's Trending

China exploits U.S. satellites to strengthen police, military power. Tangled ownership and offshore firms helped Beijing win access to superior technology, despite U.S. law preventing satellite sales to China. U.S. firms including private-equity giant Carlyle and Boeing indirectly facilitate the efforts.
Supreme Court split on citizenship question. The high court appeared deeply divided on whether the Trump administration can ask U.S. residents on the 2020 census whether they are citizens, with the court’s conservative majority voicing skepticism of legal challengers who say adding the question is unlawful.
Google wins first FAA approval for regular drone delivery. Wing Aviation, a unit of Alphabet’s Google, received the first U.S. authorization to operate a fleet of consumer delivery drones—a move that could jump-start companies’ commercial drone services nationwide.
Soros fund's new leader upends the firm in a strategic overhaul. Since becoming chief investment officer at Soros Fund Management in 2017, Dawn Fitzpatrick has fired traders, taken money from two dozen external hedge funds and made other changes to reshape the firm.
Today's crossword too easy? Try solving down clues only. For some, the tactic is a training tool, like a sprinter strapping on ankle weights; others just want a challenge.
Americans are sitting more. We have computers to blame. Across a range of age groups, average sitting time increased roughly an hour a day from 2007 to 2016, according to a large study that found computer use has contributed to a more sedentary lifestyle over the past two decades.
What tops Kraft Heinz's menu? Cost cuts or mac 'n' cheese? As the new Kraft Heinz chief executive prepares to take over, he should ponder whether zero-based budgeting can be a recipe for growth in addition to being a way to keep expenses in check, writes John D. Stoll.
"No need" to discount $100 yoga pants. Since Lululemon helped turn yoga pants into a $100 item, the market has been flooded with cheaper alternatives. But the apparel company’s new head says tapping the market for high-end athleticwear has only begun.

Tech Watch

Highlights from our technology coverage
1. Cable TV doesn’t need to be displaced. It needs to be improved. Thanks to vigorous competition from streaming adversaries, cable companies are doing just that—updating everything from confusing pricing to miserably outdated boxes, David Pierce says.
2. Personal-tech reviewers aren’t beta testers. There was no point in writing a straightforward review of Samsung’s innovative Galaxy Fold phone, as the foldable phone clearly wasn’t ready, Joanna Stern decided.
3. Retool your social-media use when you retire. When you walk out of the office for the last time, your social-media profile goes with you. Here’s how to reorganize your internet presence for this next phase of life.
Want more tech? Get WSJ Technology Weekly delivered to your inbox every Sunday and listen to your favorite tech columnists in our podcast, Instant Message.

This Day in History

April 24, 1953
Winston Churchill Knighted
British Prime Minister Winston Churchill, who guided Great Britain and the Allies to victory in World War II, received the Order of the Garter from Queen Elizabeth II. Churchill served as prime minister of Great Britain twice and his initial tenure from 1940-1945 spanned World War II. He rallied the British populace to Nazi resistance and coordinated alliances with Franklin D. Roosevelt and Joseph Stalin. He died in 1965, one year after retiring from Parliament.
—Compiled and edited by Phil Nobile in New York and Todd Olmstead in London

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