TheStreet’s Caroline Woods brings you the biggest news of the day, including what investors are watching and why the FCC has fined the country’s largest wireless carriers.
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00:00 I'm Caroline Woods reporting from the New York Stock Exchange. Here's what we're watching on
00:04 the street today. Wall Street will be closely monitoring the Federal Reserve's two-day policy
00:09 meeting, which kicks off today. The CME's FedWatch tool currently predicts a greater than 97% chance
00:15 of interest rates remaining unchanged. Several earnings reports were released before Tuesday's
00:20 opening bell. Both 3M and PayPal beat Wall Street's estimates on revenue by 8 and 10%,
00:26 respectively. Investors will hear from Amazon and AMD after the closing bell.
00:31 In other news, the U.S. government has fined the nation's largest wireless carriers for illegally
00:37 sharing customer data without their consent. The Federal Communications Commission found Verizon,
00:42 AT&T, Sprint and T-Mobile all share users' geolocation histories with third parties.
00:48 In a statement, the FCC said, "Each carrier attempted to offload its obligations to
00:53 obtain customer consent onto downstream recipients of location information,
00:58 which in many instances meant that no valid customer consent was obtained."
01:03 T-Mobile faces the largest fine at $80 million. The company released a statement saying,
01:08 "We take our responsibility to keep customer data secure very seriously and have always supported
01:14 the FCC's commitment to protecting consumers, but the decision is wrong and the fine is excessive.
01:20 We intend to challenge it." AT&T was hit with a $57 million fine, while Verizon and Sprint
01:26 face $47 million and $12 million in fines, respectively.
01:30 That will do it for your daily briefing from the New York Stock Exchange.
01:34 I'm Caroline Woods with The Street.
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