Dow sheds 638 pts. ahead of inflation data and $5 gas, mortgage rates spike: LIVE UPDATES

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Dow sheds 638 pts. ahead of inflation data and $5 gas, mortgage rates spike: LIVE UPDATES

Exchange Traded Funds – Market Update

Breaking News

Dow sheds 639 points, Nasdaq sinks 2.7%, S&P 500 2% ahead of consumer inflation data

U.S. stocks closed at the lows of the session on Thursday ahead of the Consumer Price Index, due Friday, which is expected to show inflation remained near a 40-year high. Bond yields advanced again with the 10-year crossing 3% and the 2-year hitting 2.815%, the highest since December 2018. In commodities, oil closed at $121.51 with gas prices expected to hit $5 a gallon overnight.

Developing Story

Dow selling accelerates

Symbol	Price	Change	%Change
I:DJI	$32,677.87	-233.03	-0.71%

Dow laggards include Boeing, Disney, Visa and Apple, while Home Depot, 3M and Saleforce are notching modest gains.

Developing Story

Nasdaq pacing market selloff

Symbol	Price	Change	%Change
COST	$482.32	+14.33	+3.06%
SBUX	$80.07	+1.60	+2.04%

Costco and Starbucks buck the downtrend in the Nasdaq Composite.

Nasdaq Composite Index.

Consumer inflation data, Amazon stock split, Yellen testimony top week ahead

Strategic Funds co-managing director Marc Lopresti and CEO of Recruiting.com Evan Sohn unpack the state of the economy and its impact on hiring following strong May jobs reports.

Inflation at the consumer level will be a major economic focus this upcoming week along with another round of corporate earnings and what could be more volatility for U.S. stocks.

The Nasdaq Composite, on Friday, fell 2.4%, the S&P 500 shed 1.6% and the Dow Jones Industrial Average fell over 1% or 349 points. The 10-Year Treasury yield rose to 2.955% as investors anticipate more rate hikes by the Federal Reserve.

Ticker	Security	Last	Change	Change %
I:DJI	DOW JONES AVERAGES	32899.7	-348.58	-1.05%
SP500	S&P 500	4108.54	-68.28	-1.63%
I:COMP	NASDAQ COMPOSITE INDEX	12012.733912	-304.16	-2.47%

FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.

Monday 6/6

Apple will also

The Amazon business model and the risks of big data

In recent years, the US company Amazon has been called out over how it treats its workers, its efforts to impede the right to organise, its distribution model’s inherently damaging environmental impact and the devastating effects it has on the local economies where it sets up operations. But there is another issue that has so far been given much less attention: the company’s increasingly dominant position as a data platform and web services provider.

The company founded by Jeff Bezos – the second richest man on earth, according to Bloomberg – is increasingly evolving from being a retail company, into a platform with the same business model as the likes of Google, Facebook, Apple and Microsoft. Collectively referred to by the acronym GAFAM, the profits of these top-five tech companies have skyrocketed since the pandemic forced millions of people into online social interaction.

It is estimated that the non-retail

Social media quizzes may be data collection scams

Better Business Bureau warns that social media quizzes may be data collection scams

SHARING INFORMATION, 8 ON YOUR SIDE CONSUMER INVESTIGATOR BRIAN ROCHE SAYS BE CAREFUL. BRIAN A QUIZ THAT PROVES HOW : WELL YOU KNOW YOUR FRIEND. A PERSONALITY TEST THAT OFFERS MTOATCH YOU WITH A CHARACTER FROM YOUR FAVORITE T.V. SHOW. THESE QUIZZES APPEAR TO BE HARMLESS, BUT THE BETTER BUSINESS BUREAU HAS ISSUED A WARNING ABO WUTHAT IS CALLED DATA MINING. NOW, THE BBB SAYS NOT ALL SOCIAL MEDIA QUIZZES ARE DATA COLLECTION SCAMS. HOWEVER YOU SHOULD BE CAREFUL ABOUT WHAT YOU SHARE OINNLE. THE ANSWERS CAN BE USED TO STEAL YOUR IDENTITY OR ENABLAE SCAMMER TO IMPERSONATE YOU TO YOUR FRIENDS AND FAMILY. SO WHAT CAN YOU DO? BEFORE ANSWERING A QUIZ, FIGURE OUT WHO CREATED IT, IS IT A BRAND YOU TRUST? ADJUST YOUR

Comcast delays data caps in Northeast US for at least another year

Enlarge / Comcast’s xFi Advanced Gateway.

Comcast says it won’t deploy data caps in the Northeast US in 2022, giving another year’s reprieve to 12 states and a few other areas where Comcast customers don’t face overage fees. “We don’t have plans to implement our data usage plan in our Northeast markets in 2022 at this time,” Comcast said, according to a Light Reading article.

Comcast confirmed that quote to Ars today but declined to provide any further statement when asked about plans for 2023 and beyond. Comcast’s statement came after Massachusetts state Rep. Andy Vargas, a Democrat, told WHAV that “the latest we have is that they have no intention of reintroducing the data caps at all, which is a huge win.”

Vargas and 70 other Massachusetts lawmakers slammed Comcast a year ago when it announced a plan to start enforcing the data cap in the Northeast starting