Mark Zuckerberg testifies in front of Euro Parliament, New York exchange has a new president, tariff war between USA and EU might be getting ugly soon – bullet points of this trading day.
Mark Zuckerberg testifies in front of Euro Parliament, New York exchange has a new president, tariff war between USA and EU might be getting ugly soon – bullet points of this trading day.
Zuckerberg appeared before Euro parliament.
Yesterday Mark Zuckerberg has appeared before European Parliament in order to testify on the question of Russian meddling into the US elections and Facebook’s role in all of the scandal. He claimed that he has already recognized the problem and stated that not all of the necessary precautions were taken in order to escape the problem before it has appeared. The entire fault for the fake news distribution, international meddling and abuse of users’ info Zuckerberg took on himself.
"Whether it's fake news, foreign interference in elections or developers misusing people’s information, we didn’t take a broad enough view of our responsibilities. That was a mistake, and I’m sorry." – says the official record of hearing.
Zuckerberg said that Facebook has made all of the necessary changed after the 2016 Presidential elections and has already perfected its work. Right now the social network is better prepared for the identifying and deleting fake information during elections all over the world. "We weren't prepared enough" – said Zuckerberg about Russian campaign. “I don’t think the question is whether or not there should be regulation. I think the question is what is the right regulation … The important thing is to get this right,” said Zuckerberg.
Although under immense pressure, Zuckerberg reminded the officials that Facebook gives politicians excellent opportunity to communicate directly with their supporters. He assured that now support team of Facebook do not wait for response from users. Instead they monitor all the system themselves.
New York exchange has a new president.
For the first time in the 226-year history of the New York Stock exchange presidential seat will be occupied by a woman. Stacey Cunningham, 43 is now executive director of the stock exchange. She will soon become 67th president of the most famous exchange in the world, replacing Thomas Farley. She will officially step into the new position on Friday.
Cunningham has multiple times talked to the press and expressed her devotion to her workplace. She is now very excited to step into the new position as the president. She started working at New York Exchange back in 1994. She was a mere intern. For a brief time she worked for NASDAQ but in the end she came back to the exchange as the head of trading and later on became executive director.
Every day 4000 companies do trades at the New York stock exchange.
Trade war: USA want to decrease aluminum and steel export from EU.
Donald Trump’s office has issued a statement saying that the government is looking into the possibility to decrease steel and aluminum export from the EU by 10 percent. According to the source, Washington has offered Brussels several options. One of them simply offers those countries which exported metals in the US to shorten their 2017 quota by 10 percent. Other option offers new tariffs for the export which will also shorten export by 10 percent.
European officials have already reacted go the proposition made by American government. They say that it is unlawful and the Europe will never agree to the terms, offered by Trump.
In the meantime prices for aluminum and steel have not been stable in both, USA and Europe. The trade agreement doesn’t have an easy answer and American offers ae usually so hard, that it is almost impossible for the trade partners of USA to agree to the. Deal with Mexico and Canada had already been put on hold and Chinese partners managed to strike a better deal with USA but EU doesn’t seem to have the power to change the situation in their favor. Instead they are turning to look for other trade partners.
Either way we wiil probably see more negotiations about metals export in the nearest future.
Stocks, currencies and crude overview.
European and Asian shares went lower than expected in the midst of traders’ worrying about Trump’s meeting with Kim Jon Un as it may not go through after all. Oil and other crudes are not reaching for the expectations and are also dropping price. Dollar gaining strength.
Stoxx Europe 600 lost 0.3 percent.
DAX from Germany lost 0.2 percent.
FTSE 100 Index sank 0.2 percent.
S&P 500 lost 0.2 percent.
MSCI Asia Pacific is on the lowest level in 2 weeks after losing 0.4 percent.
Dollar gained 0.2 percent against the basket of 6 major currencies.
Euro lost 0.3 percent and is now at the weakest spot in 6 months - $1.1739.
Pound lost 0.4 percent - $1.338 – lowest in almost 5 months.
Yen gained 0.5 percent – 110.30 yen per dollar. It is the best performance in three weeks and the best price in more than a week.
WTI oil lost 0.4 percent - $71.92 per barrel.
Gold fel 0.05 percent - $1.290.64 per ounce.