Zuckerberg and Facebook win in Washington

Zuckerberg and Facebook win in Washington Mark Zuckerberg sat through ...

Posted: Apr 13, 2018 10:11 AM
Updated: Apr 13, 2018 10:11 AM

Zuckerberg and Facebook win in Washington

Mark Zuckerberg sat through 10 hours of questions from Congress about the Cambridge Analytica data scandal. What did we learn? Wall Street thinks the worst is over. Facebook shares rallied this week, pushing up Zuckerberg's net worth by about $3 billion. But the stock still lags other big techs this year. And some think Zuckerberg got off easy. We didn't learn how much data Facebook collects on users. Zuckerberg dodged questions about how long it takes Facebook to purge data when somebody deletes the app. And he took heat about illegal opioid drug sale posts on Facebook and Instagram. - Paul R. La Monica

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Wall Street's trade nightmare eases, for now

Fears of an imminent trade war have faded, thanks largely to an olive branch from Chinese President Xi Jinping. The stock market breathed a huge sigh of relief after a conciliatory speech by Xi cooled the tensions. President Trump praised Xi's promise for lower auto tariffs - even though analysts noted the promise was mostly recycled, not a dramatic departure in policy. Wall Street is hoping China will deliver on its promise to lift restrictions on foreign lenders. Big banks stand to make gobs of money in China. But they also face serious political and regulatory risks. And a potential debt bubble. -- Matt Egan

How US sanctions could hit your wallet

US sanctions aimed at punishing Russian oligarchs close to President Vladimir Putin could make your soda or your luxury car more expensive. The price of aluminum has surged 10% since the United States imposed tough new sanctions on Rusal, a leading metal producer controlled by Russian oligarch Oleg Deripaska. If sustained, that price hike could push up the cost of making a range of industrial and consumer products, including cars, airplanes, soda cans and pharmaceutical packaging. - Patrick Gillespie

Volkswagen gets a new CEO

Volkswagen has announced a sudden management overhaul. After just three years at the helm, CEO Matthias Mueller is stepping down. Mueller took the role as public outrage peaked over the company's diesel emissions scandal. He's being replaced by Volkswagen brand chief Herbert Diess. Investors seem to be excited about the change - shares in Volkswagen spiked earlier this week after the company said it was considering management changes. - Danielle Wiener-Bronner

Quick takes

Oil prices jumped to a four-year high this week, as investors worried about increased fighting in the Middle East. And summer driving will be more expensive this year, thanks to OPEC.

Financial stress in the retail industry is at a historic high. Nine American retailers have already defaulted this year.

Xi's pledge to lower tariffs on US cars sounds like great news for American workers and companies. But it's not quite as exciting as it sounds.

Investors are struggling to understand conflicting messages on US-China trade policy, including President Trump's erratic tweets.

The new chief executive of Deutsche Bank is everything his predecessor was not.

What's next

The return of earnings season: Citigroup, JPMorgan Chase and Wells Fargo will report quarterly earnings on Friday. More banks will report next week: Bank of America, Goldman Sachs, Morgan Stanley, American Express and Bank of New York Mellon. Netflix and GE are among the other companies on deck.

How much US debt does China hold? The US Treasury will announce the amount of American bonds that each foreign country owns. China, which holds the most, reduced its stake in recent months. The United States will rely on foreign nations to buy its debt so it can pay for its growing deficit, exacerbated by the recent spending bill and tax cuts.

Richard Quest is off this week.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 261167

Reported Deaths: 5713
CountyCasesDeaths
DeSoto17561191
Hinds16687329
Harrison14050202
Rankin11102217
Jackson10729188
Lee9014143
Madison8495168
Jones6607114
Forrest6135122
Lauderdale6067192
Lowndes5490120
Lafayette511794
Lamar499865
Washington4904125
Bolivar4087109
Oktibbeha403581
Panola380981
Pontotoc374757
Monroe3651106
Warren3649103
Union353263
Marshall352069
Neshoba3464154
Pearl River3422105
Leflore3090109
Lincoln304287
Sunflower290373
Hancock288461
Tate279062
Alcorn270754
Pike268180
Itawamba266662
Scott256048
Yazoo253756
Prentiss251153
Copiah247649
Tippah247550
Coahoma245954
Simpson241471
Leake236167
Grenada222471
Marion220273
Covington219072
Adams212370
Wayne208432
Winston205870
George203539
Newton197346
Attala196461
Tishomingo193861
Chickasaw188444
Jasper177838
Holmes171368
Clay164237
Tallahatchie155635
Stone149525
Clarke144762
Calhoun139922
Smith127725
Yalobusha121134
Walthall114037
Greene112929
Noxubee112225
Montgomery111236
Carroll106422
Lawrence105617
Perry104031
Amite100826
Webster95424
Tunica88221
Claiborne87825
Jefferson Davis87727
Benton84823
Humphreys84224
Kemper80020
Quitman7049
Franklin69617
Choctaw62513
Wilkinson59625
Jefferson56520
Sharkey44817
Issaquena1606
Unassigned00

Alabama Coronavirus Cases

Cases: 436087

Reported Deaths: 6486
CountyCasesDeaths
Jefferson63969994
Mobile31211565
Madison27851208
Tuscaloosa21233271
Montgomery19698326
Shelby19093130
Baldwin16981188
Lee13036105
Morgan12526134
Etowah11987179
Calhoun11441206
Marshall10357123
Houston8886158
Limestone827876
Cullman8203108
Elmore8120104
DeKalb7828103
Lauderdale7798103
St. Clair7763125
Talladega6394111
Walker6002177
Jackson594644
Colbert545276
Blount543986
Autauga532761
Coffee456762
Dale406883
Franklin372448
Russell349212
Chilton342873
Covington336068
Escambia330144
Dallas312096
Tallapoosa3120107
Chambers301170
Clarke293336
Pike261131
Marion251558
Lawrence250752
Winston232742
Bibb221248
Geneva208746
Marengo206529
Pickens199031
Hale182742
Barbour179337
Fayette177029
Butler172459
Cherokee164330
Henry158224
Monroe151320
Randolph144336
Washington140127
Clay129146
Crenshaw122944
Macon120937
Cleburne120724
Lamar119721
Lowndes113736
Wilcox106622
Bullock102228
Perry99118
Conecuh96821
Sumter90026
Greene76823
Coosa63215
Choctaw51724
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