>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning after an up and down day for stocks on Wall Street Wednesday. The Dow Jones Industrial Average fell nearly 300 points, reversing earlier gains. It was seen as investors showing they're still fearful of a slowing economy after last week's interest rate cut by the Fed. At the closing bell, the Dow Jones Industrial Average lost 293 points to end at 41-914. The S&P 500 dropped ten points to 57-22. The Nasdaq rose seven points to 18-082. Despite yesterday's numbers, the three major averages are still on track to record a positive month. Today, we'll be keeping an eye out for revised gross domestic product data, weekly jobless claims and pending home sales.
>>Big Jump in Mortgage Refinancing Applications
(Undated) -- Applications to refinance a home are surging. According to the Mortgage Bankers Association's seasonally adjusted index, applications to refinance a home loan rose 20-percent last week from the week before. Compared to the same week a year ago, demand is a whopping 175-percent higher. This comes after a steady decline in mortgage rates to two-year lows. Average rates for 30-year fixed-rate mortgages with conforming loan balances decreased from six-point-13 percent from six-point-15.
>>Boeing, Union To Resume Talks Friday
(Undated) -- Boeing and its largest union say contract talks will resume Friday. The news comes almost two weeks after more than 32-thousand workers in the Seattle area and Portland, Oregon walked off the job. The strike by the machinists union is its first since 2008. The walkout has halted production of airplane models, including the 737 MAX, Boeing's best seller. Earlier this week, Boeing presented the union what it called its best and final offer. It's said to include a 30-percent raise over four years and restores a performance bonus.
>>FTC Cracks Down On Companies Using AI Technology In Deceptive Ways
(Washington, DC) -- The Federal Trade Commission is taking action against five companies for allegedly using or selling A.I. technology in "deceptive and unfair ways." The agency accuses the five companies named of relying on artificial intelligence to "supercharge" such actions. The companies include Rytr, an A.I. "writing assistant" that gave feedback with false information to get customers to buy the product. Another business, DoNotPay, claimed to be "the world's first robot lawyer" and failed to actually produce valid legal documents.
>>Disney Global Cuts 300 Jobs
(Burbank, CA) -- Some 300 people are out of a job at Disney Global, and more cuts are expected. A spokesman said the layoffs were in the name of efficiency. All of the layoffs announced this week were in the U.S.
