Caroline Woods brings you the latest business headlines from the floor of the New York Stock Exchange as the market closes on Wednesday, April 10th.
Full video transcript below:
Caroline Woods: I’m Caroline Woods reporting from the New York Stock Exchange. Here’s what we’re looking at on TheStreet today:
Investors are reacting to higher-than-expected inflation reports. Consumer prices rose 3.5% in March, beating Wall Street expectations of 3.4%. The market is currently awaiting Thursday’s producer price index for more data on inflation. These reports will be critical when the Federal Reserve makes its next decision on interest rates in May.
In other news, internet service providers will be forced to provide exact charges that users may encounter as part of a new FCC ruling. The Federal Communications Commission is now requiring internet companies to publish what it calls “nutrition labels,” with the goal of providing users with full transparency about plan costs, download speeds, and policy information. .
The design is similar to a nutrition label on a food package, with details about early termination fees, data caps, and additional government taxes. New labels should be visible both online and in-store, and should be easy to find and not get lost in the fine print.
The mandate comes after the industry has long faced complaints about confusing pricing structures and a general lack of transparency. This is all part of the Biden administration’s further push to eliminate junk fees and other misleading business practices. The FCC and White House say the label could help Americans save money.
The new requirements will go into effect April 10 for providers with more than 100,000 customers, but will remain in effect until October for smaller providers.
This concludes the daily briefing. From the New York Stock Exchange, I’m TheStreet’s Caroline Woods.
