Rafah has begun. Israeli tanks are in the city. In response, the wall street journal reports that President Biden is delaying the delivery of precision weapons. That means biden is denying muchneeded weapons to do our ally at a critical point in the war. These new developments in gaza will likely enflame the antiisrael demonstrations weve been seeing. Last night if much of new york city was brought to a sandstill as propalestinians blocked traffic, burned the flag and vandalized a world war i monument with. No impact on the markets at this stage. Stocks up monday, a mixed picture tuesday morning. We start with the dow industrials, please. The dow is going to be up about 30 points when the opening bell rings. S p up about 6. Now, disney, they reported their earnings earlier, a key part of their streaming business was profitable for the first time. Theme parks continue to do well, but the stock is down and down sharply. Your off 8 at this point if youre off a 8 at this point. In one hour
Starbucks still struggling, down 18 since earnings last week and why someone not naming names, thinks now may be the perfect time to short tesla. Im melissa lee, coming to you live from studio b at the nasdaq on the desk tonight tim seymour, Karen Finerman, dan nathan, and guy adami. We start off with the 9. 5 drop in disney after earnings this morning. Even as the entertainment giant streaming business gets closer to profitability, a slight revenue miss lower than expected guidance weighing on the stock it had been the best performing dow component this year up until todays plunge its now dropped to number four. Leadership alluding to trouble in two tent poles of disneys business first, the cfo warning about the consumer, saying that while travel and demand still appear healthy, the company seeing, quote, some evidence of a global moderation from peak postcovid travel then, there was ceo bob iger addressing future bumps in the road to streaming, admitting the path to profitability may
Congress has enacted a law that subjects a single named Speech Platform to a permanent nationwide ban. The company also says that its not possible legally, technically or commercially to divest within that time frame. Part of the challenge is that with a billion users worldwide, a lot of its content is actually available across borders, making it all harder to unpick. The Usjustice Department declined to comment, but heres what White House Press secretary Karinejean Pierre had to say when asked about why President Biden continues to use tiktok for his political campaign. So as it relates to the campaign, and obviously other congressional members, they have to speak to themselves, the campaign has to speak to it. But weve been very clear what this law is is not a ban, it is a divestment. Tiktok s ceo shou zi chew, who appeared with his wife, vivian kao, at the met gala last night, is hoping tiktok s other recent First Amendment victories in the us, like blocking the state of montanas bi
When the 2 00 p. M. Deadline came and went. We will see what happens. These are happening not necessarily at this level, but all over at more campuses yesterday. South florida. You know, if you are watching, it could be any university at this point. Im not surprised to see it happening. Crazy. Everyone comes to these conclusions at the same time at every university. Very strange. Media news. Something that is easier for us to understand, i guess. This is not easy. Bob bakish is stepping down. Me merger negotiations with s skydance continue. Cbs president george cheeks and showtime Ceo Chris Mccarthy and Paramount Pictures chief Brian Robbins will be on the board. They reported 62 cents which beat estimates. We will talk more about the paramount news with rich greenfield later in the hour. To news about the Parent Company that Nbc Universal is prepared to pay 2. 5 billion a year to air a package of nba games. Warners tnt has been paying 1. 2 billion a year under the current deal, but fa
Nasdaq indicated up by 1. 2 for the week to date for what we have seen. Look at the treasury market. You see treasuries here with 10year treasury at 2. 3 . Wti climbing above 90 a barrel. Right now, 90. 43. Of course, we have seen big news in other places. New overnight, positive data on china recovery overnight. Retail sales raising 4. 6 in august. The Unemployment Rate ticking down by. 10 . Chinas Central Bank Cut a shortterm lending rate one day after it lowered the reserves the commercial banks need to hold against deposits. That will free up funding to lend to houses and businesses sdpbusinesses. Im happy we have this guy around. Phil lebeau. It he iis interesting, the phil. You are in detroit. I saw you talking to one of the guys earlier. This is very interesting today. Especially where we have you perched. Reporter joe, it will be interesting to see how long the strike goes. Maybe a week or two weeks or looking at something extended out over seven or eight weeks. That remains to