TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why one million Americans are getting an unexpected tax refund.
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00:00I'm Conway Gittins reporting from the New York Stock Exchange.
00:03Here's what we're watching on the street today.
00:05The latest batch of tech earnings are keeping investors' AI dreams alive on this Thursday.
00:11Meta easily beat forecast thanks to the biggest quarterly revenue ever for the company.
00:16The parent of Facebook and Instagram showed no signs of backing down from its massive
00:21AI spending plans.
00:23Microsoft also topped forecast, but there was some concern about slower growth in its
00:28AI cloud business, which is struggling to keep up with demand.
00:32Meanwhile, Tesla missed sales and profit targets, but maintained aggressive spending plans as
00:39well.
00:41In other business headlines, the IRS has some good news for about one million taxpayers.
00:46You're getting an extra check.
00:48The tax collecting agency is dispersing extra tax savings that were available during the
00:52pandemic but weren't rightfully claimed on 2021 tax filings.
00:58The money was originally earmarked for those who made too much money to get one or more
01:02stimulus checks during the pandemic.
01:04The recovery rebate credit could work out to as much as $1,400 per tax filer, plus another
01:10$1,400 for each dependent.
01:13There is a catch, though.
01:15Your adjusted gross income for that 2021 tax year still had to be below $160,000 for
01:22married couples filing jointly, $120,000 for head of households, and below $80,000
01:29for single filers.
01:30The good news is, if you are due the extra check, you won't have to do anything to
01:35get it.
01:36The payment is automatic.
01:37The IRS is going to use the same method it used for your 2021 tax year refund.
01:42So, if you used direct deposit and that account is still active, then the money will just
01:46appear in your account.
01:48Otherwise, the IRS will just send a check.
01:51If you've moved since then and you are worried the check will go to the wrong place, don't
01:55worry.
01:56If there's one thing the IRS knows how to do, it knows how to find you.
02:01That'll do it for your daily briefing from the New York Stock Exchange.
02:04I'm Conway Gittens with The Street.