Author: Daniel snow

Consumer optimism got a much-needed boost in May on hopes for trade peace between the U.S. and China, according to a survey Tuesday.The Conference Board’s Consumer Confidence Index leaped to 98.0, a 12.3-point increase from April and much better than the Dow Jones consensus estimate for 86.0.Much of the positive sentiment, according to board officials, came from developments in the U.S.-China trade impasse, most notably President Donald Trump’s halting of the most severe tariffs on May 12.”The rebound was already visible before the May 12 US-China trade deal but gained momentum afterwards,” said Stephanie Guichard, the Conference Board’s senior economist…

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Todd McKinnon, CEO and co-founder of Okta, speaks during the BoxWorks 2019 Conference in San Francisco, California, on Oct. 3, 2019.Michael Short | Bloomberg | Getty ImagesOkta reported better-than-expected earnings and revenue on Tuesday but maintained its guidance as the identity management software vendor grapples with an uncertain economic backdrop. The stock plunged 10% in extended trading. Here’s how the company did compared to LSEG estimates:EPS: 86 cents adjusted vs. 77 cents expectedRevenue: $688 million vs. $680 million expectedRevenue in the fiscal first quarter rose 12% from $617 million a year ago. Subscription revenue increased by the same amount to…

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