1) Netflix has a problem that could have a very major impact on its financial future. There is a debate in the movie industry, if Netflix movies should qualify for Oscars awards, that Netflix movie productions are really just television and so don’t qualify for Oscars. If works could not qualify for Oscars, then big name producers will be less inclined to produce blockbuster movies for Netflix. Netflix has been making multi-billion dollar investments for their content trying to bring high quality productions to its subscribers.
2) Household net worth has fallen by the largest amount since the 2008 Great Recession. The net worth is the measure of total assets such as homes, bank accounts and stocks minus the debts. Net worth declined 3.5% last quarter, driven in part by the poor performance of stock markets.
3) Elizabeth Warren wants to break up ‘Big Tech Companies’, specifically Amazon, Google, Facebook and Apple. She says ‘Big is bad, small is beautiful’ and is calling for major changes to the anti-trust laws.
4) 8 FEB 19 Stock market closings:
Dow 25,450.24 down 22.99
Nasdaq 7,408.14 down 13.32
S&P 500 2,743.07 down 5.86
10 Year Yield: down at 2.62%
Oil: down at $56.04