San Francisco, California – Google has announced a further delay in its plan to phase out third-party cookies on its Chrome browser. Originally scheduled for the second half of Q4, the process is now expected to begin in early 2025. The decision comes as the tech giant grapples with challenges related to industry feedback and regulatory concerns.
The UK’s Competition and Markets Authority (CMA) is overseeing the phaseout, requiring additional time to review evidence and industry tests. This marks the third delay since the initial 2020 deadline, providing advertisers with extended preparation time.
Meanwhile, Tesla, based in Palo Alto, California, saw a surge in postmarket trading despite a decline in Q1 revenue, deliveries, margins, and EPS compared to the previous year. Investors responded positively to the company’s commitment to launch more affordable models in the near future.
During an earnings conference call, Tesla CEO Elon Musk hinted at the potential release of new models utilizing autonomous technology in early 2025. He also discussed the company’s progress on Optimus, a humanoid robot project that could become a significant part of Tesla’s future business.
In a separate development, the Federal Trade Commission (FTC) voted to ban non-compete clauses in a 3-2 decision. The new rule will render existing non-competes unenforceable for the majority of workers once it becomes effective. The FTC estimates that this move will spur new business growth and result in the creation of thousands of additional businesses each year.
Overall, Wall Street experienced a positive trading day, with the NASDAQ and S&P 500 both gaining over 1%. However, market futures were mixed as investors awaited opening bell signals. Notable premarket movers included Enphase Energy, which reported lower-than-expected Q1 results and Q2 outlook, causing a 7% decline in its stock.
As the day unfolds, market participants will be closely monitoring developments across various sectors and economic indicators, seeking insights into potential market trends and opportunities.
