1. Disney streaming: Investors are about to learn a lot more about Disney's new streaming product. The entertainment giant is expected to show off its Disney+ streaming service during its investors day on Thursday. It's Disney's answer to the challenge posed by Netflix as well as tech giants like Amazon and Google.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +24.00 | | +3.00 | | +2.50 | | +0.09% | | +0.04% | | +0.09% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +23.81 | | -51.97 | | +7.09 | | 21,711.38 | | 3,189.96 | | 7,429.00 | | +0.11% | | -1.60% | | +0.10% | | | |
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| Biggest Winners | | Discovery Inc | +1.41% | | | | Carnival Corp | +0.75% | | | | Linde PLC | +0.49% | | | | International Business Machines Corp | +0.48% | | | Biggest Losers | | Waste Management Inc | -1.18% | | | | Eli Lilly and Co | -1.06% | | | | Merck & Co Inc | -0.52% | | | | Micron Technology Inc | -0.43% | | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Disney streaming; Uber IPO expectations; Brexit delayed (again) | | By Ivana Kottasová, CNN Business | | | | 1. Disney streaming: Investors are about to learn a lot more about Disney's new streaming product. | | | | The entertainment giant is expected to show off its Disney+ streaming service during its investors day on Thursday. It's Disney's answer to the challenge posed by Netflix as well as tech giants like Amazon and Google. | | | | Buying Fox will help Disney meet the threat. The deal strengthened what was already the entertainment industry's most enviable array of brands, with Fox's National Geographic among the announced Disney+ elements. | | | | If properties with avid fan bases serve as the linchpin of any subscription-driven service, the industry consensus is that nobody can match the arsenal that Disney possesses. | | | | Yet even that doesn't assure success with such a startup venture. | | | | 2. Uber IPO: Uber is expected to file paperwork as soon as Thursday in what is likely to be one of the biggest public offerings ever for a technology company. | | | | The IPO caps off Uber's rapid and very public effort to overhaul its internal culture and move past a long list of scandals that upended the company. | | | | Uber is still facing problems: The company lost $1.8 billion in 2018, an unprecedented sum for a company about to go public. | | | | Lyft, its chief US rival, gained market share amid Uber's stumbles. But Lyft shares dropped almost 11% on Wednesday following media reports about the Uber IPO and are now trading more than 16% below their IPO price. | | | | 3. Brexit delayed (again): The European Union has granted Britain a six-month delay to Brexit with an option to leave earlier if the UK parliament can agree an exit deal. | | | | The British pound was flat on Thursday, as the news of the delay did not come as a major surprise. | | | | Businesses and investors will be relieved that the United Kingdom has, for now, avoided crashing out of the European Union without a deal. But the delay will prolong the uncertainty that has already damaged the UK economy. | | | | "The situation remains uncomfortable and potentially unstable," said Holger Schmieding, chief economist at Berenberg bank. | | | | 4. Global market overview: US stock futures were pointing lower. European markets opened mixed, following a downbeat trading session in Asia. | | | | Wall Street on Wednesday largely shrugged off minutes from last month's Federal Reserve meeting, which showed the US central bank acknowledged the threat of a global growth slowdown and didn't anticipate an interest rate hike this year. The Dow Jones industrial average closed flat. The S&P 500 added 0.4% and the Nasdaq gained 0.7%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Earnings and economics: Rite Aid will release earnings before the open. | | | | The International Energy Agency said Thursday that OPEC crude oil production dropped in March to 30.1 million barrels a day, roughly 3.3 million barrels a day below the cartel's sustainable capacity. Lower supply, which results from deliberate production cuts and sanctions, has helped pushed US oil prices up 50% to $64 per barrel from $42.53 on Christmas Eve. | | | | | | | |
| | | | | | Thursday — Rite Aid earnings; Disney investor day; India election polling begins
Friday — JPMorgan Chase and Wells Fargo earnings; China export data | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $64.01 | -0.60 / -0.93% | | | Gold | $1,308.20 | -5.70 / -0.43% | | | 10-yr | 2.48% | -0.02 | | | Euro | $1.13 | -0.00 / -0.00% | | | |
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