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Daily Market Review – 26 August 2015

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Daily Market Review – 26 August 2015

Aug 26 2015, 11.00am GMT

STOCK.com

 

Netflix Targets Teens

 

STOCK.com   Stocks

In their quest to dominate the world by next year, Netflix Inc. (NFLX, +4.79%) is now setting their sights on teens and tweens. According to the New York Times, the Internet streaming service will now add a variety of TV shows and movies which will directly target a younger market. These will include Bad Night, featuring Jenn McAllister and Lauren Luthringshausen as well: Smosh: The Movie. Netflix has also licensed a variety of TV shows including Fuller House, a reboot of the 1990s classic Full House, Degrassi: Next Class and Lost and Found Music Studios. The idea behind targeting teens and tweens is that this age group spends an increasing amount of time on the Internet and using apps. They also spend a lot less time watching traditional forms of TV. According to a study done in the U.K., teens and tweens spend 50% less time than adults watching TV yet they spend 6 times more on online video. Interestingly, on Monday, the stocks of Netflix entered bear market territory declining by more than 20% from its peak earlier this month. At the close of the trading session, the streaming giant closed at $96.88, down 6.8%. This marks a decline of 23% from its close of $126.45 reached on the 6th of August. On the day, Netflix helped to pace the selloff in the media sector while the broader market suffered one of its biggest losses in years. At the end of the trading session, the Dow Jones Industrial Average (DJIA) had dropped by more than 580 points.

STOCK.com   Indices

In U.S. trading on Tuesday, stocks started to rally in early morning trade but by the end of the trading session, the main indices ended with sharp losses. Added to this, the volatility on Wall Street was evident and the CBOE Volatility index (VIX, -11.59%) which is often referred to as Wall Street’s fear gauge, traded at 36 which marks its highest level since 2011. At the close of trading, the Dow Jones Industrial Average (DJIA), which advanced by more than 400 points earlier, ended the day down 1.3%, or 204.91 points, at 15,666.44. Also on the downside was the tech heavy Nasdaq Composite (COMP) which declined 0.4%, or 19.76 points, at 4,506.49. Following the downward trend was the S&P 500 index (SPX) which dropped 1.4%, or 25.59 points, to 1,867.61. The biggest losses came from the telecoms and utilities sectors. In addition, the SPX is now firmly in correction territory, having dropped 12 percent from its peak reached on the 21st of May.

STOCK.com   Currencies.

In U.S. trading on Tuesday, stocks started to rally in early morning trade but by the end of the trading session, the main indices ended with sharp losses. Added to this, the volatility on Wall Street was evident and the CBOE Volatility index (VIX, -11.59%) which is often referred to as Wall Street’s fear gauge, traded at 36 which marks its highest level since 2011. At the close of trading, the Dow Jones Industrial Average (DJIA), which advanced by more than 400 points earlier, ended the day down 1.3%, or 204.91 points, at 15,666.44. Also on the downside was the tech heavy Nasdaq Composite (COMP) which declined 0.4%, or 19.76 points, at 4,506.49. Following the downward trend was the S&P 500 index (SPX) which dropped 1.4%, or 25.59 points, to 1,867.61. The biggest losses came from the telecoms and utilities sectors. In addition, the SPX is now firmly in correction territory, having dropped 12 percent from its peak reached on the 21st of May.

STOCK.com   Commodities

In early Asian trading on Wednesday, crude oil prices moved higher. This came after data showed a surprisingly large drop in U.S. stocks. According to the API (American Petroleum Institute) on Tuesday, last week, crude oil stocks fell by 7.3 million barrels. This beat expectations for a decline of 1.9 million barrels. Today, the U.S. Department of Energy will release their data on the same. WTI crude oil for delivery in October traded at $39.50, up 0.50%, on the New York Mercantile Exchange. Also, Brent crude oil for delivery in October traded at $43.97, up 3%, or $1.28, on the ICE Futures Exchange in London. A day earlier, London-traded Brent futures dropped to trade at $42.23 a barrel. This marked the lowest level since March 2009.

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