1. Competition from Comcast: Shares in Disney, Comcast and 21st Century Fox could be on the move after Comcast formally bid $65 billion to buy Fox assets. Shares in Fox surged by 7.5% on Wednesday in anticipation of the offer.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +7.00 | | -6.00 | | +0.50 | | +0.03% | | -0.08% | | +0.02% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -227.77 | | -5.64 | | -37.37 | | 22,738.61 | | 3,044.16 | | 7,666.34 | | -0.99% | | -0.18% | | -0.49% | | | |
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| | | Biggest Winners | | Twenty-First Century Fox Inc | +2.40% | | | | Assurant Inc | +0.87% | | | | Twitter Inc | +0.59% | | | | AT&T Inc | +0.56% | | | Biggest Losers | | Oracle Corp | -2.98% | | | | Nektar Therapeutics | -2.94% | | | | Altria Group Inc | -0.98% | | | | Devon Energy Corp | -0.92% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Comcast bids for Fox; Rolls-Royce cuts jobs; Volkswagen penalty | | By Alanna Petroff | | | | 1. Competition from Comcast: Shares in Disney, Comcast and 21st Century Fox could be on the move after Comcast formally bid $65 billion to buy Fox assets. | | | | Shares in Fox surged by 7.5% on Wednesday in anticipation of the offer. | | | | The bid is a dramatic attempt by Comcast to thwart Disney, which reached a $52.4 billion deal in December to buy the same Fox film and TV assets. | | | | The Comcast move came one day after a judge approved AT&T's $85 billion acquisition of Time Warner, which owns CNN and HBO. | | | | The ruling is expected to mark the beginning of a frenzy of consolidation in the media industry, as traditional players look to join forces and grow in order to challenge powerful tech companies, including Netflix and Amazon. | | | | 2. Downbeat stocks: Global investors are digesting the latest Federal Reserve interest rate hike, which has weighed on stock markets. | | | | US stock futures dropped Thursday and European markets slipped in early trading. Asian markets ended the day in negative territory, with some markets down by more than 1%. | | | | While the mood is downbeat, the tech-heavy Nasdaq hit a new intra-day trading high on Wednesday before reversing course. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 3. Volkswagen fine: Shares in Volkswagen were down 1% after German prosecutors imposed a €1 billion ($1.2 billion) fine on the automaker for rigging diesel engine emissions worldwide. | | | | Volkswagen first admitted in 2015 it had rigged millions of diesel engines to cheat on emissions tests. | | | | The automaker said it accepted the penalty, which related to inadequate oversight in the department that develops powertrains — engines and transmission systems. | | | | Prosecutors said it was the biggest fine ever imposed on a company in Germany. | | | | 4. Job cuts: Shares in UK engineering company Rolls-Royce surged by 3% after it said it would cut 4,600 jobs. | | | | The firm said that it would make the job cuts over the next two years as it seeks to reduce annual costs by £400 million ($535 million) by 2020. Most of the job losses will be in the United Kingdom. | | | | 5. Earnings and economics: Michaels Companies will report earnings ahead of the open. Adobe Systems reports quarterly results after the close. | | | | The European Central Bank is set to issue its new interest rate decision at 7:45 a.m. ET. This will be followed by a press conference at 8:30 a.m. | | | | Investors will be looking for clarity on whether the central bank will pull the plug on its massive stimulus program. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
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| Key Market Stats | Latest | Today's Change | | | Oil | $66.86 | +0.22 / +0.33% | | | Gold | $1,309.00 | +7.70 / +0.59% | | | 10-yr | 2.98% | 0.00 / 0.00% | | | Euro | $1.18 | +0.00 / +0.19% | | | |
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