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Today in the Market (5/9/2024)

Good Morning! On Thursday, the U.S. equities market increased as more data indicated that the US job market was still slowing down, renewing expectations for a rate reduction in the fall. 

It was green across the board with the Dow Jones continuing to increase for the 7th day by 0.85%, the S&P 500 rose by 0.51%, and the NASDAQ gained 0.27%.

WHY NOT ALL THREE?

The recently announced streaming package from Warner Bros. Discovery (WBD) and Disney (DIS) is the most recent endeavor by media corporations to satisfy a more unpredictable customer base.

So what will this new streaming package include? Launching this summer in the U.S., the bundle will include Disney+, Hulu, and Max streaming services. Users may choose between the three platforms to join up for the bundle, depending on their preference, and will have to option to have or not have ads. Despite the lack of pricing information, WBD management assured attendees on the call that the service “will be priced very attractively for the consumer“.

So why are companies teaming up? These changes occur at a time when media corporations are under intense pressure from investors to increase the size and profitability of their streaming services. Also, companies face increased competition from internet behemoths like Apple (AAPL) and Amazon (AMZN), who are acquiring streaming agreements at an alarming rate.

ENOUGH IS ENOUGH!

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The once-cheap dinner is now almost out of reach for average Germans, according to a German political group that plans to seek a price ceiling on doner kebabs, a famous street dish in the nation. The annual sales of doner kebabs in Germany are over $7.5 billion.

Is the price increase that bad? According to Germany’s left-wing Die Linke party, several firms have increased the pricing of kebabs from around $4 two years ago to roughly $11. The party advocates for implementing a maximum price of $5.30 per sandwich and urges the German government to provide financial support for the widely consumed food. The party also suggests distributing daily doner vouchers to every home.

Is this uncommon? The Italian government convened an urgent conference last year to address the consecutive two-month increase of nearly 16% in pasta costs. French President Emmanuel Macron has expressed his intention to protect the baguette from the impact of increasing energy expenses. Even in the U.S., people were displeased at seeing the excessive pricing of a Double Quarter Pounder at a McDonald’s in Connecticut.

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