- Tech regulation was back in the spotlight after the European Union fined Google a record 4.34 billion euro (about $5 billion).
- Corporate earnings are another factor in the mix, with Alphabet, Facebook and Amazon reporting quarterly results this week.
Tech regulation was back in the spotlight last week after European Union regulators fined Google a record 4.34 billion euro (about $5 billion) for breaching the bloc’s antitrust rules.
According to EU officials, Google abused the popularity of its Android operating system by making phone manufacturers pre-install Google apps, such as Chrome and Search. The European Commission gave the company 90 days to stop the practice, or be subject to additional charges.
Google has said it will be appealing the EU’s ruling.
Aside from regulatory scrutiny, corporate results are also another factor in the mix as earnings season stateside rolls on, with Netflix the first of the FAANG stocks to have reported. The streaming giant missed subscriber addition estimates and briefly fell more than 14 percent during after-hours trading last week.
Google-parent Alphabet is set to report quarterly results on Monday, while Facebook and Amazon.com are scheduled to release their corporate reports on Wednesday and Thursday, respectively. Apple, meanwhile, is slated to report earnings on Jul. 31.
Not a Scientific Survey. Results may not total 100% due to rounding.
— CNBC’s Jill D’Onfro and Ryan Brown contributed to this story.
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