The Dow Jones Industrial Average rose for the sixth consecutive trading day, reaching its longest winning streak of the year. Despite falling tech stocks like Uber and Shopify, the Dow added 0.44%, while the S&P 500 stayed nearly flat and the Nasdaq pulled back slightly. Investors will be monitoring weekly jobless claims on Thursday morning for further market movement.
Entertainment giants Disney and Warner Bros. Discovery announced plans to offer their streaming services, including Disney+, Hulu, and Max, in a bundle reminiscent of the traditional cable TV package. The bundle will have ad-supported and commercial-free tiers, and pricing details have not yet been disclosed. Warner Bros. Discovery reported first-quarter results that missed analyst expectations shortly after this announcement.
Despite a strong earnings report last month that drove Alphabet’s market cap past $2 trillion, Google employees are expressing concerns about executive pay and cost-cutting measures. Employees are questioning why the company’s strong performance is not resulting in higher pay and are seeking clarity on the company’s priorities, including investments in artificial intelligence. Morale appears to be declining among Google employees.
Dine Brands, the parent company of restaurant chains Applebee’s and IHOP, is attempting to attract low-income customers away from fast-food chains with promotions like the Whole Lotta Burger for $9.99. The company reported disappointing first-quarter earnings and revenue, with low-income consumers visiting less frequently and spending more carefully. Despite this, Dine Brands reiterated its full-year forecast.
Elon Musk’s startup Neuralink encountered a problem when part of its brain implant malfunctioned after being placed in a human patient for the first time. The brain-computer interface, designed to help paralyzed patients control external technology with their minds, uses 1,024 electrodes across 64 threads. However, some threads detached in the trial patient, reducing the effectiveness of the interface and hindering the company’s ability to measure speed and accuracy.
Overall, these key news items highlight the current trends and challenges in the market, including stock performance, streaming service bundles, internal concerns at tech giants, promotional strategies in the restaurant industry, and technological advancements in neurotech. Investors should stay informed about these developments to make informed decisions in their trading activities.
