The Washington Post - USA (2020-07-28)

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A24 EZ RE THEWASHINGTONPOST.TUESDAY,JULY 28 , 2020


THEMARKETS

6 Monitoryourinvestmentsatwashingtonpost.com/markets Dataandgraphicsby


JASONDJFMAMJJ

6,000

8,000

1 1,000
'19

S&P 500 IndustryGroupSnapshot

IndustryGroup

Daily%
Chg




    1. 9 % Chg% 1 Yr +71. 9 %




Household Durables 3. 8
Metals&Mining 3. 2
Air Freight&Logistics 2 .4
Computers&Peripherals 2 .4
ElectrncEqp 2 .4
LeisureEquipment&Prod -7.4
Real Estate Mgmt&Dev -1. 9
CommercialBanks -1. 6
ElectricUtilities -1. 5
Aerospace &Defense -1. 5

$1000investedover 1Month

Britain£
0 .7 8

Bloomberg

JASONDJFMAMJJ

18,590

24,070

29,560
'19

Futures Close 1 D%Chg
Copper 2.90 0.2
CrudeOil41.60 0.8
Gold 1955.40 1.6
NaturalGas 1.73 -4.1
OrangeJuice 1.22 -2.2


Futures Close 1 D%Chg
Silver 24.50 7.2
Sugar 12.12 5.5
Soybean 9.00 0.1
Wheat 5.28 -2.2
Corn 3.35 -0.1

CurrencyExchange

2 - yrnote
Yield:
0 .1 5 %

Bank Prime
3. 25 %

Exchange-Traded
(Ticker) 1 D%Chg
$ 467 $ 1419


Coffee(COFF.L) 1.3
Copper(COPA.L) 0.1
Corn (CORN.L) -1.4
Cotton(COTN.L) 1.6
CrudeOil(CRUD.L) -0.5
Gasoline(UGAS.L) -1.7
Gold (BULL.L) 1.8
NaturalGas (NGAS.L) -4.5
Silver(SLVR.L) 5.9


Close
10 , 536. 27
1 D%Change
0 .7%

LIBOR3-Month
0. 25 %

ConsumerRates

1 D%Change
1 .7%

MoneyMarketNatl
0. 26

1-YrARM
2. 97 %

GainersandLosersfromtheS&P 1500 Index
Company Close

1 D%
Chg
KoppersHoldingsInc 25.07 22.2
BrightsphereInvstGrp 13.92 16.2
Xperi HoldingCorp 16.9113.5
StewartInfo Svcs 42.27 12.3
TrinseoSA 26.89 12.1
KontoorBrandsInc 19.63 11.2
CoherentInc 140.36 9.3
Titan International 1.83 8.9
TRI PointeGroupInc 17.72 8.8
UniversalDisplay 170.41 8.8
Kulicke&SoffaIndst25.41 8.5
ChemoursCo/The 18.40 7.6
LumberLiquidators 23.12 7.5
MeritageHomesCorp 98.01 7.3
OraSureTechnologies 17.70 7.3
M/I HomesInc 41.56 7.0
ANI Pharmaceuticals 28.37 7.0
Stamps.comInc 231.02 7.0
TopBuildCorp 133.32 6.8
MDC HoldingsInc 43.00 6.7

Company Close

1 D%
Chg
CaesarsEntertainment 29.74 -11.9
RangeResources Corp 5.98 -11.1
RRDonnelley&SonsCo 1.24 -8.8
CNX ResourcesCorp 8.78 -8.7
GannettCo Inc 1.45 -8.2
GenescoInc 16.78 -8.2
Talos Energy Inc 7.08 -8.1
Dave &Buster's Ent 12.28 -7.8
SouthwesternEnergyCo 2.44 -7.6
HasbroInc 71.84 -7.4
CarnivalCorp 13.75-7.1
NorwegianCruiseLine 13.38 -7.0
ExterranCorp 4.95 -7.0
BJ'sRestaurantsInc 19.52 -6.8
CaleresInc6.83 -6.7
SeacoastBnkg of FL 19.22 -6.3
DesignerBrandsInc 6.00 -6.3
First FinancialBcp 13.80 -6.2
NordstromInc 14.13 -6.2
LeMaitreVascular 29.98 -6.0

5Yr CD Natl
0 .7 0

5 - yrnote
Yield:
0. 28 %

RATES

NASDAQCOMPOSITEINDEX

$1000investedover 1Year

6Mo CD Natl
0. 34

Japan ¥
105 .4 2

Mexico$
2 1. 95

JASONDJFMAMJJ

2,230

2,810

3,390
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YYTD%Change
1 7. 4 %

Close
26 , 58 4.77

New Car Loan Natl
4. 24

AsiaPacific - 12. 8 % + 12. 8 %
S&P/ASX200 INDEX 6044.17 0.3
CSI 300 INDEX 4528.45 0.5
HANGSENG INDEX 24603.26 -0.4
NIKKEI 2252 2715.85 -0.2

Europe - 19. 1 % + 19. 1 %
STXE 600 (EUR)Pr 366.15 -0.3
CAC 40 INDEX 4939.62 -0.3
DAX INDEX 12838.66 0.0
FTSE 100INDEX 6104.88 -0.3

10 - yrnote
Yield:
0. 61 %

Close
3 , 239 .41

DowJones 30 Industrials


Company Close^1 DCh%g ChYgT%D


3M Co 163.24 2.1 -7.5
AmerExpCo 95.79 0.5 -23.1
AppleInc379.24 2.4 29.1
Boeing 170.21 -2.0 -47.7
Caterpillr 139.89 1.7 -5.3
Chevron 91.04 1.0 -24.5
Cisco Sys 47.19 1.7 -1.6
Coca-Cola48.48 0.0 -12.4
Dow Inc 44.00 3.3 -19.6
ExxonMobil 44.07 1.5 -36.8
GldmanSchs 203.02 0.8 -11.7
HomeDepot 267.42 0.8 22.5
IBM 126.21 0.3 -5.8
Intel Corp 49.57 -2.0 -17.2
J&J 147.18 -0.6 0.9


Company Close^1 DCh%gChYgT%D

JPMorgan 96.90 -1.4 -30.5
McDonald's 201.25 1.3 1.8
Merck&Co78.93 2.4 -13.2
Microsoft 203.85 1.3 29.3
NIKE Inc 97.21 -1.2 -4.0
PfizerInc37.54 -0.3 -4.2
Prcter&Gmbl 126.32 0.3 1.1
RythnTech 61.09 -1.6 -30.8
TravelersCos I116.63 -1.4 -14.8
UntdHlthGr 298.60 -0.7 1.6
VerznComm 56.87 0.0 -7.4
Visa Inc 196.91 0.9 4.8
Walgreens 39.84 -1.7 -32.4
Walmart 131.21 0.0 10.4
Walt Disney 116.31 -1.1 -19.6

1Yr CD Natl
0 .4 6

30-Yr Fixed mtge
3 .14%

COMMODITIES EU €
0. 85

INTERNATIONALSTOCKMARKETS

6 - monthbill
Yield:
0 .1 3 %

YYTD%Change
0. 3 %

15-Yr Fixed mtge
2 .7 5 %

Canada$


  1. 34


1 D%Change
0. 4 %

Note: Bank primeis from 10 majorbanks.FederalFundsrate is the market
rate, whichcan vary from the federaltargetrate. LIBORis the London
InterbankOfferedRate. Consumerrates are from Bankrate.All figuresas of
4:30 p.m. New York time.

FederalFunds
0. 25 %

Markets YTD%Chg

Americas Close

Daily
%Chg




    1. 4 % + 13. 4 %
      BRAZILIBOVESPAINDEX 104477.1 02 .0
      S&P/TSXCOMPOSITEINDEX 16161.33 1.0
      S&P/BMVIPC 37742.14 1.0




HomeEquityLoanNatl
5. 26

STANDARD&POOR'S

Data and graphicsby:

DOWJONES

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BrazilR$
5 .1 5

YYTD%Change




    1. 8 %




Applerecentlyhas emerged as
an antitrustconundrumin the
eyes of developers. Companies
suchasTile,whichmakesatoolto
track lostkeys, wallets and other
belongings,previouslytold law-
makers the iPhonegiant’s heavy-
handed approach to theApp
Storemakes it difficult for rival
servicesto grow and maintain
theirpopularity. Apple,however,
contendsthe App Storehas made
the smartphonesoftware ecosys-
tem possibleand has chafedat
thosewho have calledfor it to be
investigated in the samewayas
its peers.
Forothersegmentsoftheecon-
omy, similar showdowns with
Congressin recentdecadeshave
proved equally pivotal. In the
1990s, for example,cigaretteex-
ecutiveswho claimedunderoath
thattheirproductsweren’taddic-
tivesoonfoundthemselvesfacing
probes, regulations and other
penalties. More than 10 years
later,DemocratsandRepublicans
summoned some of baseball’s
biggest stars to pressthemabout
dopingin whatlater compelled
theleagueto rethinkitsapproach
to testing.Veterans of theseand
otherprobesin banking,energy
and telecommunicationssaythey
illustratethe formidablepower
Congresscan wieldwhenit con-
ducts meaningfuloversight.
“You shouldn’t have oversight
investigations hearings justto
blowthingsup and embarrass
people,”said former congress-
man James C. Greenwood(R-Pa.),
who oversawsome of the hear-
ings into Enronleadingup to the
2002 Sarbanes-OxleyAct thatre-
visedpublicfinancing.Members
of Congress,he said,had to ask
themselves: “Isthissomething
thatcanhelpusbecomeinformed
to changethe law?”
Enteringthe Wednesdayhear-
ing,some House Democratsand
Republicanssaytheyindeed have
grand aspirations in mindwith
tech,rethinkingfederal laws so
the U.S. governmentcan more
easilyprobe,penalizeand poten-
tiallyunwindlargecorporations,
includingthosein SiliconValley.
Buck,aGOP lawmaker,insisted
thatevenregulation-warymem-
bers of his party might be opento
adoptingnewlawstargeting the
tech industry.
“Inorderforthehearingtobea
productive hearingand asuccess,
in my view, it ultimately must
leadto statutoryrecommenda-
tionsmade[on] abipartisanba-
sis, beingpursuedby afull Con-
gress,”addedRep. JoeNeguse
(D-Colo.), vice chairmanof the
House’s antitrustpanel.
“Ithas to happen,”headded.“I
thinkit’s long overdue.”
[email protected]

claims and primed Democrats
and Republicansfor asharpin-
terrogation of Bezos.
Facebookhas long facedcriti-
cismfor gobblingup its rivals,
includingthe photo-sharingapp
Instagram and the messenger
serviceWhatsApp.Thesocialnet-
workingbehemothsays it com-
petes for users’timeagainsta
widearray of services,including
newer entrants suchas TikTok.
But congressional critics have
taken interestinthe factthat
Facebook’sinsatiable appetite for
datamakesitimpossibleforother
socialnetworks to gain muchof a
foothold, givingInternetusers
fewviablealternatives from
whichto choose.
Google has beenfaultedfor its
dominantsearchand advertising
platformand the extent to which
thatharmsan array of competi-
tors,includingnews publishers.
In Europe,it has beenfined ap-
proximately $9 billionin cases
thatfault its strong-armingtac-
tics —addingto pressureon U.S.
regulators to revive aprobe they
closedyearsagowithout severely
punishingGoogle. TheMountain
View, Calif.-basedcompanyhas
said its searchand ad services
empowerthe Weband makeit
easierfor usersto find whatthey
want.

whatthey’re doingis pro-innova-
tion and pro-consumer,” said
RobertAtkinson,presidentof the
Information Technologyand In-
novation Foundation, which
countssomeof thosecompanies’
officials on its boardof directors.
“If theydon’t do thatwell, and
if the members push back
enough,you could see it as a
turningpointwherefromnow
on, it’s goingtobemuch harder
slogging for the industry,”Atkin-

son said.
WithAmazon,the concernis
the company’sdomination of e-
commerce—and the extent to
whichthe tech giant,as botha
marketplacefor goods and asell-
er in its own right,givesits prod-
ucts an unfairadvantageover
those fromits competitors.Ama-
zon has maintainedit doesnot
harness data from third-party
sellersto give its kitchenwares,
clothesand othergoods aboost.
But recentpublicreports have
raised doubts about its past

But GOPcriticsoften have pro-
videdscantevidenceof their bias
allegations, whichtech giants
fiercelydenyandDemocratshave
decriedas adistraction.
“If aplatformis dominantin
the marketplaceand is discrimi-
nating againstaparticular politi-
calpointofview, [then]anti-com-
petitive behavior coupled with
bias is concerning,” said Rep. Ken
Buck(R-Colo.), amemberof the
antitrustpanel.

Thecongressional scrutiny
comesas Apple,Amazon,Face-
bookandGooglearefacingabevy
of lawenforcementprobes
aroundthe world,includingin
the United States, whichcould
resultin majorchanges to their
practices or their potentialbreak-
up. TheJustice Departmentis
expected to file an antitrustlaw-
suitagainstGoogleassoonasthis
summer,The Post previouslyre-
ported.
“This is the big momentfor the
[companies]to reallyshowthat

azon,Apple, Facebook and
Google, Cicillineat the time artic-
ulated abeliefthatthe “Internet
is broken”and it posesareal
danger to the peoplewho use it
and the newbusinessesthatseek
to takeroot there.
Someof the evidencelawmak-
ers have amassedis settobe
furnishedpubliclyfor the first
time Wednesday. Rep. Pramila
Jayapal(D-Wash.),oneofthepan-
el memberswho will question the
companies,saidafewofthedocu-
ments evince a“copy-acquire-
kill”strategyonthe partoftech
companies to buy or suppress
potentialrivals. TheDemocratic
lawmaker said the committee has
seensome“veryspecificlanguage
fromtop-level executivesabout
that,”but she declinedto offer
specifics.
“Weneed to moveveryquickly,
as aCongress,to reassertour
authorityintoregulation of these
tech companiesand [their]anti-
competitivepractices,”she said.
Some Republicans,mean-
while,plan to revive theirasser-
tions thatmajor social media
sitesexhibitpoliticalbias.Party
leadershave ratcheted up their
attacks in recent weeks after
Facebookand Twitter begantak-
ing action againstPresident
Trumpfor his incendiaryposts.

tionshaven’t kept pacewith the
digitalage.
In recent decades, similar
high-profile interrogationshave
yielded some of the country’s
mostimportant reforms,includ-
ingsafeguardstosparetheecono-
my from anotherfinancialcol-
lapseand rulesto protectdrivers,
smokers, workers and countless
others from acombination of
corporatemissteps and lax regu-
lation.
It remainsto be seen whether
an increasinglydividedCongress
can bringthe samepotencyto
bear againstBig Tech, remedying
along litanyofpastmistakes —
bothin SiliconValley’spractices
and Washington’s oversight of
them.
“It’sveryclear to me thereare
veryseriousproblemsthatmust
beaddressed,andit’s veryclearto
me theselargetechnologyplat-
formsare not going to regulate
themselves,”Cicillinesaid in an
interview. “The responsibility
falls to Congressto do that.”
Amazon,Apple,Facebookand
Google declined requests for
comment.(Amazonchiefexecu-
tiveJeffBezosownsTheWashing-
ton Post.)
ThehearingWednesdaywill
feature Bezos,as wellas chief
executives Tim Cookof Apple,
Mark Zuckerberg of Facebook
and SundarPichaiof Alphabet,
whichownsGoogle. All but Bezos
have testified before Congressin
the past, but theywilldosothis
time underuniquecircumstanc-
es. Thecoronavirus pandemic
will keep those leaderson the
West Coast,answeringquestions
over videoconferencingsoftware
in whatisperhapsafitting coda
to an investigation thathas ex-
ploredthe myriad ways technolo-
gy has transformedthe world—
for good and bad.
Thefour tech giantsoften as-
serttheyare responsiblefor de-
cadesof U.S. economicgainsand
abevyofdigitalappsand other
toolsthathelp peoplecommuni-
cate, shopand travel moreeasily
than ever.But that meteoric
growthhas comeat timeswith
immensecosts: Thedatathey
collectputs users’privacyatrisk,
the servicestheyoffer can harm
the veryworkers theyemploy,
and the contenttheypermiton-
line carriesthe potentialto desta-
bilizedemocracy.
Those ills promptedCicilline
and his Democratic and Republi-
can colleaguesto embarkon a
wide-ranging investigation in
June 2019, seeking to probe
whether the tech industry’smis-
steps are aconsequenceof its
unrivaled size. Taking aim at Am-


TECHFROMA1


Lawmakers signal willingness to regulate Big Tech firms


PABLOMARTINEZMONSIVAIS;EVANVUCCI;JEFFCHIU;JENSMEYER/ASSOCIATEDPRESS
Wednesday’shearingwillfeatureAmazon’s Jeff Bezos,left, Apple’s TimCook,Alphabet’s SundarPichaiandFacebook’sMarkZuckerberg.

“It’s very clear to me theselargetechnology


platformsare not goingto regulatethemselves.”
Rep.DavidN. Cicilline(D-R.I.),chairmanoftheHouseantitrustpanel
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