WSJ

Russian Attack on Kyiv Kills 12, Prompting Trump to Rebuke Putin

• “I am not happy with the Russian strikes on KYIV. Not necessary, and very bad timing. Vladimir, STOP! 5000 soldiers a week are dying. Let’s get the Peace Deal DONE!”

• Ukraine agreed to a U.S.-proposed cease-fire 44 days ago, but Russia declined.

Google’s Earnings Power Holds Up in Global Turbulence

• Parent company Alphabet reported operating income of $30.6 billion for the first quarter on Thursday—solidly beating Wall Street’s forecast of $28.7 billion.

Home Sales in March Fell 5.9%, Biggest Drop Since 2022

• So far this spring, supply is increasing faster than demand. The inventory of homes for sale is rising, because some sellers who have been waiting for mortgage rates to fall have decided they can’t keep waiting. The average rate on the standard 30-year fixed mortgage was essentially flat this week at 6.81%, according to mortgage-finance giant Freddie Mac.

Trump Tariffs News: Stocks Gain; China Says Not in Trade Talks With U.S.

• Tech stocks are climbing, helping boost the Nasdaq in particular. Momentum began with hope earlier this week that the Trump administration is softening its stance on China and the Federal Reserve.

China Says Not in Trade Talks With U.S.

• China hasn’t engaged in trade talks with the Trump administration, Chinese officials said, denying reports the world’s two largest economies have started negotiations.

President Trump: ‘Actively’ Talking to China on Trade

Xi Is Ratcheting Up China’s Pain Threshold for a Long Fight With Trump

Pepsi and Mountain Dew Depend on Imports. PepsiCo Says Tariffs Will Hurt Earnings.

• Unlike rival Coca-Cola, PepsiCo makes the concentrate for nearly all of its U.S. sodas in Ireland. That concentrate is now subject to a 10% tariff. Both companies also could be hurt by a 25% tariff on aluminum imports.

Reuters

Meta cuts jobs at its Reality Labs division

• Facebook owner Meta Platforms is laying off an unspecified number of employees from its Reality Labs division amid ongoing restructuring efforts, the company said on Thursday.

US aims to boost offshore oil drilling by easing pressure rules

• Under the new rules, operators working in the Wilcox rock formation under part of the waters that Trump has renamed the Gulf of America, can produce oil from multiple offshore reservoirs using greater pressure differences.
• Grok:
  Downhole Commingling: This is a technique where oil from multiple underground reservoirs (layers of rock containing oil) is extracted through a single well. Each reservoir may have different natural pressures due to geological conditions.
  Pressure Differential: The difference in pressure between these reservoirs is called the pressure differential. For example, one reservoir might have a pressure of 10,000 psi (pounds per square inch), while another has 8,500 psi, resulting in a 1,500 psi pressure differential.
  Why It Matters: If the pressure difference is too large, it can cause technical issues, such as oil flowing unevenly, damage to the well, or safety risks like equipment failure.

Bloomberg

Apple to Strip Secret Robotics Unit From AI Chief Weeks After Moving Siri

• As part of the robotics project, Apple plans to release a tabletop robot that uses an artificial limb to move around an iPad-like display.
• Apple plans to relocate the robotics team from John Giannandrea’s AI organization to the hardware division

Investing.com

TSX closes higher, continuing gains of prior session

• Markets are also looking ahead to a key election in Canada on April 28, with both of the top candidates vowing to fast track energy projects to help diversify oil exports away from the United States.

• Trump’s tariffs and his talk of turning Canada into the 51st U.S. state have sparked widespread outrage in the country and underpinned a national discussion around diversifying its energy supplies.