Comments on the call, disney ceo bob igor stressing that the lower than expected results on the quarter are results of the big changes he implemented at the company, both foxs acquisition and disneys pivot to embrace the direct to consumer business theyre investing in right now igor Just Announced consumers will be able to subscribe to a bundle of their services for 12. 99, they will get hulu, espn and disney plus, worth noting it is the same cost as netflix. Take a listen to his comment here. Our results reflect our efforts to integrate the assets, businesses and talent we acquired in order to enhance and advance our Strategic Transformation implementation of the integration plan is well under way. A complex process given the magnitude of the endeavor, and we remain confident in our ability to successfully execute our strategy reporter cfo Christine Mccarthy saying that the acquisition of 21st century fox and taking control of hulu will have a dilutive impact on the fiscal First Quart
Tank. Forail we had big gains u. S. Stocks, big rebound rally, but not so much for the emerging markets. The emerging markets index closed down fractionally. Over the last 10 days, 10 days in a row, that is the longest losing streak since 2015, the worst since the Fourth Quarter of last year. Was down ahead of the volatility. Macro concerns around a trade war and everything else, including the fed. In white, the s p 500, in yellow, the emerging markets index. Rebounding from the big selloff last year, trading mainly in lockstep. In april, it started to turn down ahead of that pullback from the s p 500 in may. Liquidity and trade war concerns. A bit of a recovery for both. The s p 500 at the market recouped or than one third of the losses today. It is a good time to focus on the stocks most susceptible to a trade war. My colleague cameron created the trade war index. 25 stocks at least 5 billion in market cap and derive at least 15 of their revenue from mainland china. This revenue has
We should also note that yield curves around the world are feeling the pressure as well we did have on friday the german bund, the 10year, falling to its lowest level ever. As for the asian markets, the nikkei down by 1. 75 hang seng also pressured by what is going on in hong kong in terms of the protests there, down 3 . Shaun hi shanghai down 1. 6 in europe, red arrows across the board. Dax is down 1. 35 . Ftse down, as well we have a stronger dollar against the major currencies weaker crude, wti down 0. 7 . Brent down 0. 75 . Couple safe haven trades working this morning, gold prices are up. They actually have been on a great run. They were under 1300 about two months ago you see them up only slightly, little less than 1 , probably because they had been so strong lately not a lot of oomph year. Bitcoin also getting a little bit of a boost right here. Obviously, a lot of capital and motion across borders. That could help the sentiment toward bitcoin you see it up 7 at 11,750 lets talk
Costs in the slowing economy. The loan prime rate tracks credit of trustworthy customers. Shery we will discuss the crackdown by social media giants and what they called a china backed effort to undermine the protests in hong kong. First, lets get you started with a quick check of how the markets closed the monday session in the u. S. The s p 500 gaining more than 1 for a second session. Every sector in the green, led higher by energy and tech stocks. Oil rallying after a drone attack in saudi arabia. That really highlighting middle east tensions in the oil market. The dow gaining 250 points. The nasdaq up 1. 4 . More optimism over the trade fund. That is filtering in through the u. S. Dollar which was higher throughout the session. Taken to another level, the highest this year after the boston chief eric rosenkrantz sounded a more hawkish tone. See how things are shaping up for the as markets. Sophie asian futures are trading mixed with tech very much in focus after semis rallied on w
Big tech which could mean tariffs on french goods and services. And the u. S. Has just weeks to the task is proven near impossible. Impossible. Ear shery equity markets near record highs with the s p 500 at one point top and 3000 for the first time ever. Industrialsnd weighing on the index. The focus was entirely on chairman powells testimony in congress which suggested a july rate cut was on the table. Not to mention we got the minutes from the june meeting. That also showed a dovish turn. Followed that was factored into the markets in this session. Of course we are not done yet. Chair powell testifying again in Congress Tomorrow at the Senate Banking committee this time on thursday. And we also have the ecb minutes out not to mention u. S. Inflation numbers. For the time being, asia futures s p Futures Holding study. Lets get a check of how markets in asia are shaping up. Sophie this thursday asian stocks are eyeing modest gains after a move higher for u. S. Stocks. Broadly Holding G