TheStreet's JD Durkin brings the latest business headlines from the New York Stock Exchange as markets open for trading on Tuesday, January 23.
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Full video transcript below:
JD DURKIN: I'm JD Durkin, reporting from the New York Stock Exchange. This is what we are seeing today on TheStreet.
stocks are coming off a strong trading session on Monday, which saw both the S&P and Dow hit new all-time highs. Focus is on earnings as investors react to better-than-expected results from United, but the airline said it expects to take a hit from the grounding of Boeing's 737 MAX 9 planes.
Wall Street awaits economic data this week, with fourth-quarter GDP due on Thursday and a key inflation report on Friday.
In other news, Netflix is making its biggest leap yet into the world of live entertainment. Starting next year, the streaming giant will begin hosting “Raw,” the flagship show of World Wrestling Entertainment, more commonly known as WWE. Netflix and TKO Holdings, which owns WWE, announced a 10-year, $5 billion partnership that will take “Raw” off of traditional cable and into the streaming universe.
Netflix has streamed several live events in the past, including “The Netflix Cup” and a Chris Rock comedy special, but this is the first time the company has struck a deal with a major sports organization.
As for WWE, the deal gives the company access to Netflix's more than 250 million global subscribers. “Raw” currently airs on NBC-Universal's USA Network and is its flagship program, attracting more than 17 million unique viewers per year, according to the companies.
Regarding the agreement, Netflix's chief content officer said: appointment, “We are excited to have WWE Raw, with its huge and passionate multi-generational fan base, on Netflix. By combining our reach, recommendations and fandom with WWE, we will be able to bring more joy and value to their audiences and our members.
That will be enough for your daily report. From the New York Stock Exchange, I'm JD Durkin of TheStreet.
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