High for more on what powell said and what we learned from todays fed minutes, senior economics report Steve Liesman is here. In the house. Onset in the house how am i supposed to cover the Federal Reserve when you put up a graphic like powellpalo oo, za what is wrong with that it captures the sentiment celebrate good times i was doing that. If you goad them in the control room, they will take the bait every time yes. So i think it was powellpalooza is not a bad way to characterize it it had every opportunity to push back on the market being darn sure there was a rate cut. Instead of pushing them back he said, come on, we are going more in terms of i dont mean more in terms of more rate cuts, but you can be more sure he emphasized the negatives and down played the positives. What i thought was interest ingalls ing is that the markets threw into doubt the 50 basis cut later this month once we got the job reports, but powell said to have a hot jobs market we need heat he said tothe marke
A first Interest Rate cut in three years for south korea the surprise move comes amid growing trade tensions with japan. Investors wary about some of those delays to trade deals around the world. Reviving a classic well speak to the man whos brought whisky and gin distilling back to an area of scotland that had been running dry for decades. We wa nt we want to know have price rises put you off netflix or are they are too many streaming options . Let us know just use bbcbizlive hello and welcome to business live. We start with the streaming service netflix. Its shares have fallen sharply down almost 12 in after hours trading after the tv streaming giant released disappointing results. Netflix has shaken up the world of tv with its rapid growth but that growth seems to be slowing down as it puts up its prices. In the three months to the end ofjune, netflix had 151. 6 million paid subscribers. Thats a rise of 2. 7 million on this time last year almost half the 5 million the company itself
It on repeat it is thursday the 18th of july and fbn am starts right now. That song annoy you yet welcome to fbn am dont be annoyed tuesday Lauren Simonetti thank you for joinings. Rng good morning everybody. Im cheryl casone. Lets take a look at how your money is moving this morning pus futures are looking at more declines dow down 80 points and nasdaq down 12. 5 two dow stocks do report today United Statessed health and microsoft. Despite concerns from investors theyre gearing up, of course, for next fed meeting were looking for that rate cut as you can see right now on the tenure, unchange. Taking a look at oil prices comments foreign minister that u. S. , quote, shot itself in the foot by leaving the nuclear deal oil is at 56, 64 a barrel. Worries about global outlet for earnings, of course, trade concern are already there. This is how stockses are trading this morning in europe red arrows across thed board. Escalating there. To the top story this morning the president waste nothin
We think investors are contemplating today. Netflixs ability to raise price in lieu of rising competition. You saw evaluated churn in this quarter from price increase, as well as its ongoing need to invest in content. The Company Called out their inability to mute their subscriber estimates based on what was seen to be a weaker content slate. So to ask that shows the need to continue to invest heavily in content. Do you think price hikes from here on out are just going to be too hard to do we dont think theyre too hard to do, but perhaps the magnitude we saw in that quarter wont be as large as we move forward and the time between the next price hike might be a little bit longer. Or maybe, john, as one of your sellside colleagues said earlier in the morning, maybe you dont do a price hike in a contentweak quarter yeah. I mean, that was the thing about it like, if you look at it, netflix has beaten 10 of the last 14 quarters, but missed three of the last four years, and two of those year
Nasdaq, back up there another 11point gain. Now, Interest Rates, that was the trigger this week. The market is predicting three rate cuts this year. Up goes the market. Picture this. Speaker pelosi addresses a closed door meeting of House Democrats. She comes down hard on the young radicals. You got a problem, bring it to me, she says. That did not go down well. Aoc fired back. The speaker is quote, outright disrespectful to singling out women of color. Its a fight with race and gender thrown into the democrat divide. Action in the gulf. Iranian gun boats try to take over a British Oil Tanker. A British Navy Ship stopped it. The price of oil, i believe right now its back at, yes it is, 60 a barrel, 60. 59 per barrel. Lots of factors pushing oil up today. Records on wall street and an intruder at Buckingham Palace . You get it all on Varney Company which is about to begin. Stuart watch out in new orleans. Heavy rain, flash flood, emergency in new orleans. There might be a hurricane on t