TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Tuesday, November 14.
Full Video Transcript Below:
J.D. DURKIN: I’m J.D. Durkin, reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Investors are reacting to a lighter than expected inflation report. Inflation rose at an annual rate of 3.2 percent in October, below expectations of 3.3 percent and down from last month’s 3.7 percent. This report is a sign that stubbornly high prices are finally starting to ease.
Later this week, investors will be turning their attention to the release of retail sales data and earnings from names like Target, Walmart, and Macy’s.
Shifting to tech - yet another country has banned TikTok. Nepal has officially prohibited the use of the social media platform. It’s not for the usual securities reason, but to keep the peace.
Of the ban, the country’s Minister of Communication and Information Technology said, quote “Considering how TikTok is disrupting our social harmony, and the impact it’s having on our family and social structures, the Cabinet has decided to ban TikTok for the moment.”
Nepal is far from the first country to place some sort of ban on the Chinese-owned TikTok. India, Taiwan, and Afghanistan have banned all citizens from using the app - while the U.S., Australia, and the entire European Union have all placed restrictions on the use of TikTok on government devices.
Despite the bans and restrictions, TikTok still boasts over 1 billion users, with over 100 million of them living in the United States.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
