TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Wednesday, February 21.
Full Video Transcript Below:
J.D. DURKIN: I’m J.D. Durkin - reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Investors are looking ahead to Nvidia earnings – the chip giant is set to release quarterly results after the bell. Wall Street will be keeping a close watch on this report as concerns grow about the company’s sky-high valuation. Nvidia has surged 225 percent over the past year alone.
Markets will also be anticipating minutes from the Federal Reserve’s January meeting – traders will be looking for clues into the path forward for interest rates after back-to-back hotter than expected inflation reports.
In other news - the new proposed sports streaming platform between ESPN, Fox, and Warner Brothers Discovery has already hit a snag. The Wall Street Journal reported streaming service Fubo TV has sued the media companies just weeks after the plan was announced. Fubo alleges the networks would not allow it to carry several sports-related channels that will be included in the new service.
The lawsuit aims to block the three media giants from launching the new platform, and claims that "their power over commercially critical sports content to force Fubo to broadcast unwanted, expensive content that prevents Fubo from offering the sports-centric package of channels that its customers want."
The new sports platform is slated to launch in the fall of 2024. It will include games from at least 15 networks and all four major sports leagues. The list of channels includes the entire ESPN family of networks, TNT, TBS, and a host of college conference networks - like the ACC and Big Ten.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
