US markets were all essentially unchanged at the end of trading Monday.
The Dow was up less than 0.1%. The S&P 500 and the Nasdaq both closed down small amounts.
Apple (AAPL) finished the day down 1.2% after it announced its new streaming service and other offerings, including a credit card.
Nike (NKE) increased 0.2% after federal prosecutors in New York charged lawyer Michael Avenatti with attempting to exert more than $20 million from the company. Earlier, the stock was down as much as 1.6% after Avenatti tweeted that he would hold a press conference to disclose a “scandal” involving Nike.
Following a slump at the open, the Dow is now in positive territory. Here’s a check:
Here’s a check of some stocks:
A dour analyst note from RBC Capital Markets analyst Joseph Spak warning of “meager demand” for the Model 3 sunk Tesla’s (TSLA) stock by as much as 2.75% in early trading:
Stocks stabilized Monday following Friday’s huge sell-off on recession worries and weak economic data in Germany.
The Dow opened about 12 points lower but quickly moved higher in early trading. The S&P 500 and Nasdaq also opened slightly in the red before reversing those losses.
Shares of Apple (AAPL) were down a little less than 1% ahead of a big announcement later Monday where it is expected to reveal more about its streaming video plans.
Viacom (VIAB) shares soared 7% after the Nickelodeon and MTV owner reached a deal with AT&T’s (T) DirecTV to avoid a blackout of Viacom’s cable channels. (CNN Business is owned by AT&T’s WarnerMedia.)
Naspers (NAPRF), the biggest investor in China’s Tencent (TCEHY), has announced a plan to spin off its international internet assets.
The media, tech and investment firm, which was founded over a century ago in South Africa, is best known for paying $32 million in 2001 for a major stake in what was then seen as a young Chinese tech startup.
The investment has helped Naspers — which started as a small publishing house —compete with the likes of Amazon (AMZN), Facebook (FB) and Netflix (NFLX).
The company said it wants to list the new company in Amsterdam.
Naspers said it will own approximately 75% of the new company, which includes holdings in tech companies like Tencent, mail.ru and DeliveryHero.
We don’t know exactly what Apple (AAPL) will debut during its big press event later today. A new streaming-video product? A revamped TV app and video storefront?
What is clear is that the tech giant will be jumping into an already crowded — and growing -— streaming market.
Apple is expected to roll out a streaming-video product at a press event in Cupertino — one that could come with a lineup of original programming from the likes of Oprah, Reese Witherspoon and Steven Spielberg.
This video product, whatever shape it takes, will be competing for viewers’ time and money against some of the biggest entertainment companies in Hollywood, which are creating, promoting and launching their own services in 2019.
The stock is unchanged in premarket trading.
Worries over slowing economic growth are weighing on global markets. US stock futures are pointing lower.
Stocks dropped sharply in Asia as investors reacted to disappointing manufacturing data from Germany on Friday, and a warning signal that a US recession could be on the horizon.
Japan’s Nikkei (N225) closed down 3% today, while Hong Kong’s Hang Seng (HSI) shed 2%.
Fears about a severe global economic slowdown hit stocks in Europe and the US on Friday:
