Apple Enters Streaming Video Market


Major indices are up at mid-day Wednesday. Disney (DIS) and Netflix (NFLX) are down today in response to Apple (AAPL) announcing that its upcoming streaming video service would undercut its two competitors on price at $4.99 per month. Uber (UBER) and Lyft (LYFT) are in the news after the California Senate passed a law that would force the companies to treat their workers as employees, including paying a minimum wage and overtime as necessary. Governor Gavin Newsom is expected to sign the bill into law after the State Assembly approves this latest version.

At present, the S&P 500 is up +0.27%, the DJIA is up +0.19%, and the NASDAQ is up +0.61%.

Industries doing well today include Communications Equipment, Trading Companies & Distributors, and Metals & Mining. Industries showing weakness include Auto Components, Health Care Providers & Services, and Food & Staples Retailing. The VIX is down -0.29 to 14.91 after the previous close of 15.20. The most heavily traded options this morning are for the Brazil Ishares MSCI ETF (EWZ), with 10,032 10/18/2019 $45.00 calls on the board. The total put/call ratio as of 10:30 AM was 0.67 (444,792/664,775). The advancers/decliners ratio for NYSE stocks is 1,895/972 while the advancers/decliners ratio for NASDAQ stocks is 2,093/875.

[InvestorsKeyhole, various news and data sources]

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