Stocks rise…Trade gap falls…YouTube to pay $170M fine over kids’ privacy
NEW YORK (AP) – Stocks are broadly higher in morning trading on Wall Street as investors snap up technology, industrial and bank stocks. Chipmakers, which have been at the mercy of trade war volatility, are doing much of the heavy lifting for the technology sector today. Banks rose broadly as bond yields climbed.
WASHINGTON (AP) – The U.S. trade deficit declined in July, including the gap with China that has been the focus of President Donald Trump’s tariffs. The Commerce Department says that the gap between the goods and services the U.S. buys and what it sells abroad fell 2.7% to $54 billion in July from June. Exports rose 0.6% to $207.4 billion, while imports ticked down 0.1% to $261.4 billion. Compared to a year ago, the average trade gap has increased $7 billion.
WASHINGTON (AP) – The Federal Trade Commission is fining Google’s video site YouTube $136 million to settle allegations it collected children’s personal data without their parents’ consent. The FTC found that YouTube violated a law that requires parental consent before companies can collect children’s personal information. The fine marks the largest the FTC has leveled against Google, although it’s dwarfed by the $5 billion fine the agency imposed against fellow tech giant Facebook earlier this year for privacy violations.
LANSING, Mich. (AP) – Gov. Gretchen Whitmer is moving to make Michigan the first state to ban flavored e-cigarettes. The Democrat announced today that she ordered the state health department to issue emergency rules. They will prohibit the sale and misleading marketing of flavored nicotine vaping products. The federal government and nearly every state bar the sale of e-cigarettes to minors. Whitmer says Michigan will be the first to ban flavored vaping products, including for adults.
ORLANDO, Fla. (AP) – Florida’s busiest airport is reopening after being closed for more than a day as Hurricane Dorian was skirting the state’s eastern coast. Officials say Orlando International Airport will resume commercial operations at noon today. Orlando’s theme parks are back to regular operating hours, for the most part. Walt Disney World and Universal Orlando Resort opened for a full day today after closing early yesterday. SeaWorld Orlando was re-opening at mid-morning after being closed yesterday.