US stocks closed mixed but little changed the day before the Thanksgiving holiday.
The S&P 500 closed down about 0.1%, while the Dow Jones industrial average fell about 0.3%. Meanwhile, the tech-heavy Nasdaq was up about 0.1%.
First up, the scoreboard:
- Dow: 23,526.18, -64.65, (-0.27%)
- S&P 500: 2,597.08, -1.95, (-0.08%)
- Nasdaq: 6,867.36, +4.88, (+0.07%)
- US 10-year yield: 2.322, -0.041
- WTI crude oil: $58.01, +1.18, (+2.08%)
1. The government proposed new rules that would let internet providers block apps and create fast lanes. The FCC released its proposed rollback of Obama-era “net neutrality” regulations requiring internet service providers to treat all data on their networks equally.
2. The Fed is having second thoughts about raising interest rates further. Fed Chair Janet Yellen raised new concerns about whether or not persistently low inflation is “transitory” in a speech Tuesday night.
3. A new analysis shows the Senate GOP tax bill fails a key test that would prevent it from passing. The University of Pennsylvania’s Wharton School Budget Model shows that the bill would decrease revenues and increase the federal debt outside a 10-year window, violating the “Byrd rule” that would allow Republicans to pass the bill with 50 votes in the Senate and avoid a Democratic filibuster.
4. Uber reportedly paid hackers $100,000 to cover up a cyberattack that exposed the personal data of 57 million people. Among the info stolen was a trove of data including the names, emails, and phone numbers for 50 million riders globally, as well as the personal information of 7 million drivers. This included US driver’s license numbers, but no Social Security numbers, according to Uber.
5. Goldman Sachs has some ideas on how investors can make a killing in the market this Black Friday. The investment bank says this holiday quarter is going to account for a bigger percentage of annual sales for retailers than in years past.