New York stock exchanges traded with gains on Wednesday after the price surge the previous day. Big tech companies have been in the spotlight for several reasons. For example, Google-affiliated Facebook subsidiary Meta and Alphabet has received millions of fines in South Korea, and Amazon is stalking California for unfair competition practices. The auto sector also draws attention to itself because of the Detroit Auto Show.
Alphabet shares closed up 0.7 percent. Google’s daughter has to pay nearly 50 million euros in South Korea for violating privacy rules. The company is also facing interference in its ideas fertile area 120. For example, the number of projects in the nursery has been halved and half of the employees have to look for a new job. The fine he previously received for restricting competition in Europe was slightly reduced to 4.1 billion euros.
Meta Platforms closed the session with a loss of more than 1 percent. That company has to pay 22 million euros in Korea for a similar offense to Google. Amazon closed with a gain of 1.4 percent. The US state of California has sued the online retailer for anti-competitive behaviour. The contracts that Amazon makes with third-party sellers and wholesalers would drive up prices. That would be anticompetitive and against California antitrust rules.
President Joe Biden announced the first round of funding for a nationwide network of freight at the Detroit Auto Show. The president is committed to promoting electric driving.
Starbucks shares jumped 5.5 percent. The coffee chain raised its expectations. Steel maker Nucor fell 11 percent after disappointing forecasts for the current quarter. United Airlines won 1.7 percent. The airline has announced a partnership with Emirates Airlines and will therefore also offer flights to Dubai.
The Dow Jones Industrial Average closed 0.1 percent at 31,135.09 points, and the Standard & Poor’s Index rose 0.3 percent to 3,946.01 points. The Nasdaq Technology Index closed 0.7 percent higher at 11,719.68 points.
The euro was trading at $0.9977, against $0.9998 at the European close. The price of a barrel of US oil rose 1.6 percent to $88.69 a barrel. The price of Brent oil rose 1.2 percent at 94.26 dollars a barrel.
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