Wall Street Today | Netflix to sell 'Squid Game' goods on Walmart site

Australian shares edged down, while futures for Japan and Hong Kong dipped. U.S. contracts retreated after the $S&P 500 Index (.SPX.US)$ and $NASDAQ 100 Index (.NDX.US)$ fell for a second day as the prospect of a slowing recovery from the pandemic shadowed trading.

$Netflix (NFLX.US)$ is teaming up with $Walmart (WMT.US)$ to create a digital storefront on the retailer's website that will sell merchandise tied to hit shows such as "Stranger Things" and "Squid Game," the companies said.

$Apple (AAPL.US)$ announced Friday night it would appeal a judge’s order forcing it to allow apps to link to alternative digital payment systems on the web. The move would protect Apples lucrative App Store model, which has come under fire from technology rivals, international regulators and members of the U.S. Congress. The appeal is at odds with Apple's original messaging that it was happy with the judges ruling in the case.

$Merck & Co (MRK.US)$ said it asked the FDA to authorize emergency use of its experimental antiviral pill to treat mild to moderate Covid-19 in adults. Phase three clinical trial data showed that the drug – known as molnupiravir – reduced the chances that patients newly diagnosed with Covid would be hospitalized by about 50%. The experimental drug could be available to Americans by late this year.

$Emerson Electric (EMR.US)$ plans to merge two of its software businesses with $Aspen Technology (AZPN.US)$ in a roughly $11 billion deal aimed at capturing growing demand for industrial technology.