Reuters Insider - U.S. Day Ahead: Google's CEO in the hot seat

Pacific Ventures

11/12/2018 24:02

Click the following link to watch video: https://share.insider.thomsonreuters.com/link?entryId=1_3gu2rzei&referenceId=1_3gu2rzei&pageId=ReutersNews
Source: Reuters Insider

Description: Google CEO Sunda Pichai testifies on Capitol Hill about the
social media practices of parent company Alphabet. Plus, an update on
inflation and business at American Eagle Outfitters.
Short Link: https://reut.rs/2Eedhks

Video Transcript:

Google in the hot seat on Capitol Hill. But first up, American Eagle reports.
Brokerage Jefferies trimmed its earnings forecast for the apparel retailer
last month, but cut its buy rating. It says consumers remain strong, investors
remain lean, and valuations are low on a historical basis. Shares have gained
about 4% this year. Next up, an update on inflation at the wholesale level.
November producer prices predicted to slow considerably, according to data
from Refinitiv. The headline figure expected to hold steady versus October
when rising fuel prices led to a significant jump in prices. The
year-over-year rate anticipated to climb 2.5%, down from 2.9%. The rate,
excluding food and energy, seen inching up 0.1% over a month-over-month basis.
And ahead of another high profile social media outfit testifies before
Congress. Google Boss Sunder Pichai addresses the House Judiciary Committee on
parent company Alphabet's social media practices. Republicans had expressed
concerns that the company is biased against Conservatives after it skipped a
high profile Senate hearing. I'm Leah Duncan, and this is Reuters