Mandeep Singh, Bloomberg Intelligence, Facebook discussed on Bloomberg Daybreak

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Slash global trader Up first meta shares that more than 16% this morning NASA after earnings showed Facebook adding more users than projected Mandeep Singh is senior technology analyst at Bloomberg intelligence He says the overall report is strong despite missing revenue estimates Last time they gave us a surprise that they are spending an additional $20 billion on this reality labs That's the first time we learned about those numbers This time around they are saying they don't plan to increase it but they plan to pair back a little bit and the core Facebook and Instagram engagement seems to be holding up quite well Bloomberg intelligence analyst mandeep Singh says Facebook added more than 30 million new users in the quarter and big tech earnings will continue today Amazon and Apple report after the bell Turning to the economy Karen we get a reading on growth today U.S. GDP is expected to show a 1% gain when the figures come out this morning Well Nathan according to new findings higher inflation is affecting many Americans financial outlook and Bloomberg's ready to young joins us live with the latest good morning Rita Good morning Karen a Gallup poll shows less than half of Americans rate their financial situation as good or excellent in some 48% say it's worsening That's similar to levels seen a month into the pandemic and during the financial crisis of 2008 So what's driving the worry the survey finds that a record 32% of Americans rank inflation and a high cost of living as the most important financial problem facing their family today Live in New York I'm ranita young Bloomberg daybreak All right we need to thanks overseas the Japanese yen hit a two decade low against the dollar right now the yen is trading at one 30.24 Well Nathan President Biden delivers remarks on Ukraine later today as he prepares a proposal for Congress to ship more weapons meantime the Financial Times reports Germany and other European nations could open a ruble account to pay for Russian gas Patrick de Haan of gas buddy says uncertainty in Russia and COVID in China will continue affecting gas prices Certainly a very bumpy and volatile summer as we continue to see.

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