TheStreet’s Conway Gittens brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Friday, May 17.
Related: Comcast makes desperate move to gain back fleeing customers
Full Video Transcript Below:
CONWAY GITTENS: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
The Dow tiptoed to another record high on Friday, while the rest of the stock market hugged either side of the flat line. Investors took a little breather after big gains drove stocks to new records earlier in the week.
Wall Street believes inflation is moderating enough for a likely rate cut come the fall. Investors will hear more from the Federal Reserve when minutes from its last meeting are published next week. The earnings parade continues next week with quarterly results from Nvidia, Target, and Toll Brothers to mull over.
In other news, Comcast announced plans for a streaming-TV bundle called Stream-Saver. The bundle includes AppleTV+, Netflix, and Peacock for customers of Comcast’s cable TV, internet, or mobile service.
More Videos:
- Most common investing mistake even veteran investors make
- Everything to know about the iconic force behind 'RuPaul's Drag Race'
- What it's actually like to drive this luxury car – reviewing the Bentley Continental GT V8
No word yet on the price, but Comcast CEO Brian Roberts told an industry conference the bundle will “come at a vastly reduced price to anything in the market today.” For an idea of what the price tag could be: separately, AppleTV+ costs about $10 a month, Netflix’s ad-supported version is about 7 bucks, and Peacock’s premium monthly subscription is $6.
Streaming bundles could be the next big thing. Disney and Warner Brothers Discovery recently announced their own price-conscious bundle, which includes Disney+, Hulu, and Max, formerly known as HBO Max.
Comcast, like other media players, is grappling with disappearing subscribers through cord-cutters, dwindling ad dollars, and an inability to dethrone Netflix as the king of streaming.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
Related: Veteran fund manager picks favorite stocks for 2024
