Accusing facebook of misleading investors as the doj launches this antitrust review. Corporate earnings going to be weighing on some stocks at least this morning boeing and caterpillar disappoint trade worries remain u. P. S. Shares sinking ahead of the open. Profits soaring more than 13 for the quarter. David abney joins us first on cnbc this hour facebook up first. Three different Government Agencies today, the ftc formally announcing that record 5 billion settlement with the company over privacy violations, imposing new requirement oz on Mark Zuckerberg and making structural changes to the board the s. E. C. Simultaneously announcing 100 million settlement accusing the company of misleading investors about the misuse of user data. And lastly, last night, the doj is opening a broad review of Tech Companies, that will scrutinize leading Online Market platforms. Didnt name any specific companies, but obviously facebook, amazon, alphabet are all in play. Of the alphabet soup, what is mo
Round of questions. We expect you to answer them fully and to the best of your ability. The commission is fully formed and five members. According to that commission, deaths and injuries and Property Damage if incidents stemming from Consumer Product cost the nation more than a trillion dollars. Thats an economic cost, the cost to human beings and lives and families is even much more and unknowable. You have a mandate to protect consumers from risks associated with 15,000 Consumer Products including household products, toys, Sporting Goods and more. They were established by the safety act in 1972. The jurisdictionally independent agency chargesen with forcing various federal statutes geared at protecting consumers. Central to the commissions function is the use of voluntarily Consumer Product standards instead of mandatory regulations, requirements when appropriate. This approach allows the agency to have a collaborative working relationship with consumer advocacy groups, manufacturers
Into full gear next week with the banks ready to report but names like netflix, microsoft, ibm, all on deck will earnings season spark another leg of the rally or could it derail this market . Guy adami. I mean here im going to say it is going to derail it because i have been obviously bearish. I think the markets are all over incorrectly for quite sometime, but for the life of me i cant believe earnings you will be able to build momentum from what we have seen on the back of earnings, which at best will be tepid. We have seen the preannouncement. Maybe im wrong, made guidance will be good maybe we will get some surprises, but in my world earnings can only disappoint given were at alltime highs in the s p. Can it hurt though . I dont know. I dont think it could hurt. Really . Yeah, because dont we all know what is going to happen theyre going to kitchen sink it, right . I dont think kitchen sink is out there. Well, theyre going to blame it on trade, theyre going to blame it on anything
Santa rosa 52. City at 54. Below average even though jim came in above. The last week of june was very cool and first for five days are going to be similar as well with temperatures winning below average because of the slow which has been parked there for about a week continues to turn offshore that is sending in high clouds, keep the onshore breeze in place and temperatures are slow to recover and water temps went down. 5253 in San Francisco buoy, if this is your kind of weather this is your kind of week because temperatures are not going far. Most morning due to low cloud deck and onshore wind still in place and cost about 30 out of travis now southwest the 20 and will not going anywhere until after thursday, 60s, 70s. Good news or more issues . Good news. I will qualify that. Good news if youre in the bay bridge of that short commutes. Not great news if youre coming in from tracy because that is still going a new problem there to tell you about. This is westbound 588. Malt feel. Was
From u. S. Consumer Product Safety Commission members on hazard quus products and consumer safety. They spoke about recent recalls including a fisher price sleeper that was associated with the deaths of more than 30 infants. This is about an hour and 15 minutes. Good morning, everyone. The subcommittee will come to order. Welcome to todays oversight hearing on consumer Product Safety Commission. Thank you to all the commissioners for being with us today. I am meezed that were having an on time start. We have votes at 11 30. There will only be one round of questions. That doesnt mean the witnesses cant pretend they dont have all the answers in the first round of questions. We expect you to answer them fully and to the best of your ability. The commission is fully formed and five members. According to that commission, deaths and injuries and Property Damage if incidents stemming from Consumer Product cost the nation more than a trillion dollars. Thats an economic cost, the cost to human