Stock indexes rally as yields fall on earnings news
Wall Street rose for a third straight session with the S&P 500 up 1.6 percent, the Dow 1.1 percent higher, and the Nasdaq up 2.3 percent as Treasury yields slipped. Microsoft posted a 14 percent quarterly profit drop but beat expectations on revenue. Alphabet reported slower revenue growth, with ad sales rising only 2 percent, while investors weigh inflation and the Fed's rate path ahead of key GDP data.
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Sleep apnea device recall drags on
A massive recall of Philips CPAP machines expands beyond 5 million devices worldwide and stretches into 2023. Patients face choosing between potentially harmful devices and risky remedies as FDA and regulators push faster replacement, while doctors struggle to provide affordable, timely options amid widespread supply issues and lawsuits.
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Hyundai opens first US EV plant in Georgia impact
Hyundai Motor Group broke ground on a 5.5 billion Bryan County plant near Savannah to build electric vehicles. Governor Kemp and Senator Warnock led a bipartisan event with a robotic dog toast, promising up to 8,100 jobs and 300,000 EVs annually by 2025 amid tax credit tensions and broader climate policy.
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