Caroline Woods brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Friday, April 26.
Related: Stock Market Today: Google surge powers tech, steady inflation boosts stocks
Full Video Transcript Below:
CAROLINE WOODS: I’m Caroline Woods reporting from the New York Stock Exchange - here’s what we’re watching on TheStreet today.
Stocks are coming off a losing session on Wall Street on concerns interest rates will stay higher for longer.
Investors are reacting to the Fed’s preferred inflation gauge. The Personal Consumption Expenditures index showed that inflation rose 2.8 percent in March, just above analyst expectations of 2.7 percent. This is the final data on inflation before the Federal Reserve makes its next decision on interest rates on May first.
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And in other news, if you own a Ring camera, you may be entitled to compensation. The Federal Trade Commission is sending 5.6 million dollars in refunds to Ring customers after alleged privacy violations.
In 2023, the FTC accused the doorbell company of allowing its employees and contractors to access people’s private footage without consent. Ring claimed it used the footage to train its algorithm.
As a result of the settlement, Ring was forced to pay a hefty fine and delete all unauthorized footage.
You are eligible for the refund if you owned the Stick Up or Indoor camera models before February 1st, 2018.
In total, the FTC is sending over 117,000 PayPal payments to customers who had certain models of Ring cameras.
That’ll do it for your daily briefing - from the New York Stock Exchange, I’m Caroline Woods with TheStreet.
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