Transcript:
Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Investors have a lot to focus on this week including a two-day meeting of the Federal Reserve. Policymakers are expected to lay the groundwork for a September interest rate cut when meetings wrap up on Wednesday
Meanwhile, This will be the busiest week of earnings season so far. McDonald’s kicked things off by missing revenue and profit forecasts. Sales were down worldwide as inflation-weary consumers balked at the high price of a Big Mac.
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In other news…..it was a box office bonanza for the latest Marvel superhero flick. Deadpool and Wolverine took in $205 million in U.S. ticket sales over the weekend, making it the biggest R-rated debut in history, the 8th biggest domestic opening of all time, and the best of 2024. Throw in international tickets and the movie took in another $233 million.
This is a big win for Disney (DIS) , which owns the Marvel franchise. This marks the 34th film under the Marvel Cinematic Universe, which has been suffering from superhero fatigue as of late. But Disney is looking to inject new energy into the brand with this, its first-ever R-rated comic book flick. And instead of leaning on tired tropes it turned to dark comedy featuring two fan favorites: Hugh Jackman’s Wolverine and Ryan Reynolds’ Deadpool.
The success of Deadpool and Wolverine gives Hollywood a much needed hero to save the day. Movie releases are still slim pickings after last year’s workers’ strike put production on ice. The box office is 20 percent down so far this year.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I”m Conway Gittens with TheStreet.
