ritika gupta is in new york for us. ritika, break down the data today for us. what's it telling us? it is telling us that the economy remains robust. americans filing for unemployment benefits came at 231,000, lowerthan unemployment benefits came at 231,000, lower than expected. 231 , 000, lower than expected. and 231,000, lower than expected. and us gdp was revised upwards to 3% from previously 2.8% and a big part of that was down to consumer spending, significant because it drives two thirds of the economy and there was a big advancement in the spending of goods and services particularly in areas like housing, utilities, recreation and health care. that offset downgrades in other areas like business investment, exports and private industry investment. spending is being supported in part by wages and we have seen momentum really slow as the labour market starts to shift gears. personal income rose only moderately. but i think overall this is good news today because it comes at a time when there has been growing concern about the health of the us consumer and a cooling jobs market,

the bbc�*s ritika gupta has more. chip—maker put up a blockbuster quarter in earnings, revenues topped $30 billion, more than double what it reported a year ago and beating the expectations from wall street. 68 cents also came in above expectations. the company authorised another $50 billion in share buy—backs. but after a huge run—up in stocks, expectations were high going into the report, and investors had been looking for an even bigger revenue forecast. the outlook threatens to tamp down ai frenzy that has transformed the company into the world's second most valuable company. as anticipated, they gave an update on the production delays and design flaws on its chip, causing market volatility several weeks ago. they acknowledged there were issues with production, saying that it was making changes to the number of functioning chips that come out of factories. at the same time, the company expects to bring in several billion dollars of revenue in the fourth quarter from the product. nvidia shares have fallen by around

ritika gupta is in ny for us. why's mark zuckerberg speaking out about this?here speaking out about this? is a growing debate abou�* far there is a growing debate about how far a social media companies should go in being able to police comments, images and content by their users. some platforms believe they should be more hats are —— hands off, were some governments say having an overly laissez faire attitude could lead to crime. mark zuckerberg has come out and said he felt pressurised by the us government to centre content related to covid and he regrets the company decision to do so. during the pandemic facebook officials drew a lot of fire from critics about vaccine mandates and masks because it said it removed certain posts due to misinformation about the virus. what is significant is this is coming during an election year. zuckerberg said in his letter he would not be making any contributions to support electoral infrastructure and the presidential election this year, so as not to sway one way or the other. separately, we got a read of consumer confidenc

the bbc�*s ritika gupta has more.he dow hit a fresh record—high on thursday following robust economic data. americans filing forjobless claims last week came in lower than expected at 231,000, and us gdp for the second quarter was revised upwards to 3% from the previous 2.8% rating. now, a big part of that was down to consumer spending, as it drives two thirds of the us economy. the stronger advances and key categories included spending on health care, housing and utilities and recreation. that offset and downgrades and other categories, like exports and private inventory investment. spending is being supported in part by wage gains, but momentum is slowing as the labour market shifts into lower gear. personal income rose only moderately. yet, overall, the data is a good sign for the economy and it comes at a time when there has been growing concern over the health of the consumer and the labor market, especially after the latest monthlyjobs data, which was a big disappointment. forecasters seeing a further moderation

let's speak to our north america business correspondent ritika gupta.elp us to understand some more why the performance of this one company is such a market mover. yes, this is really the story of the week, driving the market action. first of all, it is really about its waiting in the index, it accounts for about 6.7% of the index, that makes it the second large company behind apple. their expectations are high going into this and it could have a lot of market sway. the share price is almost triple over the last year, expectations are high here and any disappointments could be punished by investors. so it could bring a lot of volatility. and it has seen as a big ai play, investors will be watching if this ai induced money could have more momentum or will it start to lose steam? give us a flavour of the details that investors are looking out for.— details that investors are looking out for. details that investors are lookin: out for. . . , . looking out for. nvidia has had a stron: looking out for. nvidia has had a strong performance - looking out for. n

ritika gupta reports from new york. chip—maker nvidia put up a blockbuster quarter in earnings.enues topped $30 billion, more than double what it reported a year ago and beating the expectations from wall street. earnings per share of $0.68 also came in above expectations, and the company authorised another $50 billion in share buy—backs. but after a huge run up in the stock, expectations were high going into the report and some investors had been looking for an even bigger revenue forecast. the stock has had a meteoric rise, so they were expecting a gold medal performance. and we got gold medal from the godfather of ai, jensen nvidia. but you'll see some sort of breathing after market. that's what we're seeing in terms of the stock taking a little breather. but we don't think this is going to be long lived. i think this is a stock that actually moves higher off these numbers. but this is the most watched earnings report potentially in a decade. a lot of focus in terms of investors on nvidia. so you're going to see some, you know, wild reactions after. but overall we view it as

the bbc�*s ritika gupta has more from new york.er crypto friendly voters ahead of november's election, donald trump is offering a fourth collection of nonrefundable tokens. , ,, ., tokens. these cards show me dancin: tokens. these cards show me dancing and _ tokens. these cards show me dancing and even _ tokens. these cards show me dancing and even me - tokens. these cards show me dancing and even me holding| dancing and even me holding some — dancing and even me holding some bait coins. the dancing and even me holding some bait coins.— dancing and even me holding some bait coins. the new batch forjurors _ some bait coins. the new batch forjurors 50 — some bait coins. the new batch forjurors 50 and _ some bait coins. the new batch forjurors 50 and ftes - some bait coins. the new batch forjurors 50 and ftes for- some bait coins. the new batch forjurors 50 and ftes for $99 | forjurors 50 and ftes for $99 each with an additional trading card showing trump as a boxer, dancing and even as a superhero. the release includes packages that

with the details from new york, here's the bbc�*s ritika gupta.friendly voters ahead of november's election, donald trump is offering a fourth collection of non—fungible tokens. these cards show me dancing and even me holding some bitcoins. the new batch features 50 nfts selling for $99 each, with additional trading cards showing trump as a boxer, dancing, and even as a superhero. the release includes packages that promise physical gifts to buyers. purchases of 15 nfts can get a piece of trump's debate suit, while buyers of 75 nfts will have dinner with trump in florida. trump says his previous sales have generated more than $4 million in revenue per release, though his cut isn't clear. the nft sale is happening as trump builds on the growing interplay between crypto and politics. trump has vowed to support bitcoin mining in the us and to work against creating a central bank digital currency in the country. last summer, millions across the world donned pink as barbie, the movie dominated the box office and became a cultural phenomenon. now, makers

ritika gupta is in new york for us. ritika, break down the data today for us. what's it telling us?

the bbc�*s ritika gupta has more., revenues topped $30 billion, more than double what it reported a year ago and beating the expectations from wall street. 68 cents also came in above expectations. the company authorised another $50 billion in share buy—backs. but after a huge run—up in stocks, expectations were high going into the report, and investors had been looking for an even bigger revenue forecast. the outlook threatens to tamp down ai frenzy that has transformed the company into the world's second most valuable company. as anticipated, they gave an update on the production delays and design flaws on its chip, causing market volatility several weeks ago.

the bbc�*s ritika gupta has more from new york.ted at 231,000, and us gdp for the second quarter was revised upwards to 3% from the brevis 2.8% rating. now, a big part of that was down to consumer spending, which, as it drives two thirds of the us economy. the stronger advances and key categories included spending on health care, housing and utilities and recreation. that offset and downgrades and other categories, exports and private inventory investment. spending is being supported in part by wage

let's speak to our north america business correspondent ritika gupta.

ritika gupta in new york has all the details. a fresh the dow hit a fresh record the dow hit a fresh record high the dow hit a fresh record high on thursday following robust us economic data. americans filing forjobless claims last week came in lower—than—expected at 231,000 and us gdp for the second quarter was revised upwards to 3%. from the previous 2.8% rating. a big part of that was down to consumer spending which is significant as a drive is two—thirds of the us economy. there were stronger advances in buying goods and services and key categories include spending response rates will benefit. forecasters see a further moderation in the economy for the remainder of the year as high borrowing costs continue to filter through the economy but most economists aren't yet predicting a recession. at the same time, the federal reserve is set to begin lowering interest rates next month as inflation slows and that may provide some release especially for sectors heavily impacted by borrowing costs like housing and manufacturing. next up

with the details from new york, here's the bbc�*s ritika gupta.friendly voters ahead of november's election, donald trump is offering a fourth collection of non—fungible tokens. collection of non-fungible tokens. , ,, ., tokens. these cards show me dancin: tokens. these cards show me dancing and _ tokens. these cards show me dancing and even _ tokens. these cards show me dancing and even holdings . tokens. these cards show me dancing and even holdings in | dancing and even holdings in lrilcoin— dancing and even holdings in bilcoin is _ dancing and even holdings in bitcoin is— bitcoin is. the new batch features _ bitcoin is. the new batch features 50 _ bitcoin is. the new batch features 50 nft - bitcoin is. the new batch features 50 nft is, - bitcoin is. the new batch features 50 nft is, with| features 50 nft is, with additional trading card showing trump as a boxer, dancing and even as a superhero. the release includes packages that promise physical gifts to buyers. purchases of 15 nft is can get a piece of tram's debate suit while buyers of 75 nf

the bbc�*s ritika gupta has more.ating. now, a big part of that was down to consumer spending, as it drives two thirds of the us economy. the stronger advances and key categories included spending on health care, housing and utilities and recreation. that offset and downgrades and other categories, like exports and private inventory investment. spending is being supported in part by wage gains, but momentum is slowing as the labour market shifts into lower gear. personal income rose only moderately. yet, overall, the data is a good sign for the economy