Wall Street Today | Netflix to sell 'Squid Game' goods on Walmart site
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Asia stocks set to dip amid inflation
Asian stocks looked set to slip Tuesday on concerns about elevated inflation stoked by energy costs. The dollar held a climb.
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.
Commodity surge fuels inflation threat
A surge in energy and metal prices is offering investors a fresh reminder of how the commodities market can fuel inflation and imperil the post-pandemic economic recovery.
The West Texas Intermediate crude price on Monday settled above $80 a barrel for the first time since 2014 while aluminum futures rose to their highest since July 2008, leading broad gains among base metals. In China, coal futures surged to a record.
Morgan Stanley sees stocks suffering on souring consumer outlook
Souring consumer confidence could soon catch up to stock market investors if this earnings season is clouded by downward guidance revisions.
Critically, the Fed and investors have embraced the view that inflation is transitory -- a view not shared by consumers. If consumer sentiment doesn’t quickly improve, it could be a signal of market weakness that would be sparked by disappointing earnings, weaker spending and higher savings rates.
Netflix to sell 'Squid Game' goods, other products on Walmart site
$Netflix (NFLX.US)$ 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.
The partnership is part of Netflix's broader strategy to develop new revenue streams beyond its core subscription business and market its content away from its own platform.
Apple decides its victory against Epic wasn't enough — it wants a total win
$Apple (AAPL.US)$ 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 asks FDA to authorize antiviral Covid pill for emergency use
$Merck & Co (MRK.US)$ 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 plans to merge industrial-software businesses with AspenTech
$Emerson Electric (EMR.US)$ 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.
It is in general, as companies with surging stocks and ample cash look for deals that will boost growth and profitability. In the U.S., companies have struck more than $2 trillion of takeover deals so far in 2021, more than double the year-earlier pace, according to Dealogic.
US companies authorise more than $870bn in stock buybacks
Businesses have authorised more than $870bn of repurchases so far this year, Goldman Sachs data show, almost three times more than in the same period in 2020 and $50bn ahead of the record set in the first nine months of 2018. Record share repurchases in 2021 so far could signal optimism despite recent market dips.
Source: Bloomberg, WSJ, CNBC, Financial Times
Source: Bloomberg, WSJ, CNBC, Financial Times
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Gucciboy : Cool
AxieMan : Niz
Bleuhues : This is interesting
nyunx :![undefined [undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36)
Ron T : Wow
grisli : nice