On The Daily (OTD) - 7th October 2024

Top Stories Today: The Dow Jones Industrial Average and Google.

Table of Contents

Top Stories Today

Economy & Finance

The Dow Jones Industrial Average

The Dow Jones Industrial Average fell by 398.51 points (0.94%) to 41,954.24 on Monday, as rising oil prices and Treasury yields dampened investor sentiment. The S&P 500 lost 0.96%, while the Nasdaq Composite dropped 1.18%. Treasury yields climbed above 4% for the first time since August, and U.S. crude oil prices rose over 3% due to heightened Middle East tensions. Energy stocks were the only S&P 500 sector to close higher, while utilities and consumer discretionary sectors declined. Investors are keeping an eye on upcoming Federal Reserve meeting minutes and the Consumer Price Index report, along with earnings releases from Delta and JPMorgan later in the week.

Technology

Google

A U.S. judge has ordered Google to modify its Android app business to allow users more choices for downloading apps and making in-app payments, following a lawsuit by Epic Games. The ruling requires Google to permit alternative payment methods and app stores on Android for three years, starting November 1. Google plans to appeal, arguing the changes could negatively impact consumers and developers, while Epic CEO Tim Sweeney sees it as a chance to increase competition within Android's ecosystem.

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