TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Monday, October 30.
Full Video Transcript Below:
I'm J.D. Durkin, reporting from the New York Stock Exchange.
Stocks were in the green to close out today's session. The Dow closed up over 500 points, the Nasdaq closed up 1.1 percent, and the S&P closed 1.2 percent higher. This comes as investors look ahead to Wednesday's interest rate decision and Friday's October jobs report. Both events will be watched closely and will give investors a better picture of the state of the U.S. economy.
Meanwhile, earnings season continues with big names like Apple and Starbucks reporting results later this week. So far, 49 percent of companies in the S&P 500 have reported results, and of those, a majority have beaten expectations.
In other news, Facebook and Instagram users in Europe will soon have the option to pay to get rid of ads on the platforms. Meta is introducing an ad-free service that will cost subscribers about 10 euros on the web or about 13 euros on iOS and Android.
The move comes as Meta continues to address European concerns regarding its ad targeting and data collection practices, with the company saying, "We respect the spirit and purpose of these evolving European regulations and are committed to complying with them." As long as a user remains subscribed to the ad-free service, their data will not be used for ad targeting.
Users will still have free access to Facebook and Instagram, and Meta says their existing ad preference tools already in place will remain the same.
Meta will also temporarily stop showing ads to teenagers in Europe starting on November 6th, though the timetable for how long is unclear.
That's all for your daily briefing. From the New York Stock Exchange, I'm J.D. Durkin with TheStreet.
