I'm JD Durkin reporting from the floor of the New
York Stock Exchange and here's a look at what we're
watching on the street today.
Stocks are looking to continue their positive run after a
pair of back-to-back record sessions led to fresh all time
highs for market indexes last week.
Several big names will report earnings over the next five
days including BuzzFeed,
Carnival and GameStop. Investors will also be on the lookout
for a slew of economic indicators in the next few
days.
The Consumer Confidence Index comes out on March 27th,
Weekly jobless claims out on Thursday.
And of course the latest PCE report is set to
be released on Friday.
In other news, the European Union says it suspects some
of the biggest names in tech are not complying with
its newly implemented Digital Markets Act.
Meta, Apple and Google are now all under investigation for
what the EU says is a failure to promote digital
competition.
The Digital Markets Act requires platforms to give users more
of a choice when it comes to things like shopping
or travel.
The law applies to companies that the EU calls the
gatekeepers.
Those companies are Amazon, Apple,
Google, Microsoft, Meta and Tiktok parent Byte Dance.
And Elon Musk's ex and travel site booking.com could soon
be added to the list.
The EU is currently investigating Meta's pay or consent system,
in which users can pay up to $14.00 a month
for ad free versions of the platforms.
The European Commission says It is quote concerned that the
binary choice imposed by Meta's payer consent model may not
provide a real alternative in case users do not consent,
thereby not achieving the objective of preventing the accumulation of
personal data.
If the EU finds there was in fact a lack
of compliance with the DMA,
the companies found guilty would be heavily fined.
That'll do it for your daily briefing from the floor
of the New York Stock Exchange.
I'm JD Durkin with the Street.