Caroline Woods brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Tuesday, April 9.
Full Video Transcript Below:
CAROLINE WOODS: I’m Caroline Woods reporting from the New York Stock Exchange. Here’s what we’re watching today on TheStreet.
Stocks are coming off a mixed Monday session as investors look ahead to two key inflation reports. The Consumer Price Index is out Wednesday, and Producer Price Index is out Thursday. Both reports will be crucial when the Federal Reserve makes its next interest rate decision in May.
In other news, U.S. lawmakers have introduced a bipartisan proposal that would create a national law regulating how companies can collect, use, and share a user’s online data.
If the proposal is eventually signed into law, it would be the U.S. equivalent to the European Union’s General Data Protection Regulation. GDPR forces companies to obtain permission to collect data on its users, and organizations which violate could be fined tens of millions of dollars.
The bipartisan U.S. deal would be called the American Privacy Rights Act, and it would ban the transfer of personal information to third parties unless a user explicitly gives permission to do so. That information would include things like geolocation histories, financial data, and call logs. However, the bill would allow access to that information to prevent crimes, like fraud.
The plan would also force companies to disclose whether any information they collect would be shared or stored with China or Russia. The U.S. government has long been concerned that users of TikTok can easily have their information obtained by the Chinese government, and the House has passed a bill that would ban the platform in the U.S.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Caroline Woods with TheStreet.
