Snap is a technology company best known for its marquis social media application Snapchat, a visual messaging application that has amassed hundreds of millions of users. The app was initially only used to communicate with family and friends through photographs and short videos (known as "Snaps"). Users can now enjoy augmented reality, or AR, lenses, content from famous creators and celebrities, updates about local events, and more. Although the app offers a paid subscription option with premium features, advertising sales produce most of the app’s revenue. The firm also sells wearable devices called AR Spectacles, which can capture photos and videos overlayed with AR lenses, but these make up a small portion of Snap’s overall sales.

Snap operates the social networking site Snapchat, which allows users to post, view, and interact with videos and still images. Snap has added text-, video- and voice-based calling between users. The company sells advertising in the form of sponsored geofilters, publisher stories, snap ads shown between user stories, and sponsored Lenses. Given the richer context and information furnished by images, Snap's goal is to reinvent the camera to improve how people live and communicate.

The major indices are flat at midday. Federal Reserve Chairman Powell is on Capitol Hill giving his semiannual report to Congress on monetary policy and the state of the economy. As usual, he is showing his discipline and staying on message. And his latest message is, the Fed is in 'no hurry' to cut interest rates. President Trump announced tariffs yesterday after the market closed on steel and aluminum products imported into the U.S. The yield on the 10-year Treasury note is at 4.54%. Oil is up 1% at $73 per barrel. Bitcoin is at $97,500.

Snap is a technology company best known for its marquis social media application Snapchat, a visual messaging application that has amassed hundreds of millions of users. The app was initially only used to communicate with family and friends through photographs and short videos (known as "Snaps"). Users can now enjoy augmented reality, or AR, lenses, content from famous creators and celebrities, updates about local events, and more. Although the app offers a paid subscription option with premium features, advertising sales produce most of the app’s revenue. The firm also sells wearable devices called AR Spectacles, which can capture photos and videos overlayed with AR lenses, but these make up a small portion of Snap’s overall sales.