Bluesky adds 2.5 million users since Donald Trump’s reelection

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why users are leaving X in droves.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:02Here's what we're watching on the street today.

00:05Wall Street ended the week with a alfalfa voice.

00:09I'm Conway Gittins reporting from the New York Stock

00:11Exchange.

00:12Here's what we're watching on the street today.

00:14Wall Street ended the week in a slump.

00:16Apparently, what's good for the economy

00:19is perceived as not being so good for the stock market.

00:22Retail sales are resilient and layoffs are low.

00:26Taken together, that's the kind of strength

00:28Wall Street thinks will delay more interest rate

00:30cuts from the Federal Reserve.

00:33Consumers are in focus in the coming week

00:34with quarterly results from Walmart, Target, TJ Maxx

00:38parent TJX, Lowe's, and Dollar Tree.

00:42Turning to other business headlines,

00:44ex-users are fleeing the app as billionaire CEO Elon Musk

00:48spends his time advising President-elect Donald Trump.

00:52Immediately following November's presidential elections,

00:55ex saw its biggest mass exodus since Musk

00:58bought the company in 2022.

01:01More than 115,000 subscribers closed their ex accounts

01:05on the day after the election alone,

01:08according to web tracking data provided to NBC News.

01:12In contrast, Blue Sky, an app created by former Twitter CEO

01:16Jack Dorsey in 2009, has signed up 2.5 million new subscribers

01:22during the first week after the election.

01:24A spokesperson told USA Today,

01:27it's been tough going ever since Musk took over ex

01:30and his political leanings are apparently making it worse.

01:34According to one estimate, the app,

01:37formerly known as Twitter,

01:38will see $2.9 billion in sales in 2024.

01:42That's about a 40% drop from the $4.4 billion

01:46seen before his first full year on the job.

01:50And that'll do it for your daily briefing

01:51from the New York Stock Exchange.

01:53I'm Conway Gittins with The Street.