The Federal Reserve is now on Instagram and Threads (META). On Instagram, Federal Reserve Chairman Jerome Powell says that information "and other resources" will be posted on their social media page. The Yahoo Finance Live team discusses the Fed's decision to join the social media platforms. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
ByteDance's — the parent company of the social media app TikTok —valuation has reportedly dropped over 25% year-over-year. After seeing exponential growth over the past three years, ByteDance's revenue has slowed, due in part to increased competition from Meta’s (META) Instagram Reels and YouTube Shorts (GOOG, GOOGL). Yahoo Finance Tech Editor Dan Howley reports on ByteDance's valuation slump and ongoing discussions surrounding TikTok's regulation in the U.S. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
The company started testing these tools in May, giving access to a select group of advertisers in a "testing playground". The tools will be available in Meta's Ads Manager and their rollout will be completed next year. The rollout marks the Facebook and Instagram owner's first foray into bundling generative AI technology into its products for mining vast stores of past data to generate new content like prose, art and software code.