Good morning everyone. In case you missed it, here's what happened in the markets this week. The Dow ended the week positive for its ninth straight week. And this weekend will be busy with Warren Buffet releasing his annual letter to shareholders on Saturday and the Oscar's on Sunday.
I'll see your 5G, and raise you 6G. Donald Trump called for the rollout of 6G technology in the U.S. this week. Which, is notable considering companies are still scrambling to rollout 5G infrastructure. AT&T launched its 5G platform in 12 cities last year and Verizon will be looking to do so in 30 cities by the end of 2019.
I want 5G, and even 6G, technology in the United States as soon as possible. It is far more powerful, faster, and smarter than the current standard. American companies must step up their efforts, or get left behind. There is no reason that we should be lagging behind on.........— Donald J. Trump (@realDonaldTrump) February 21, 2019
The nomination of Netflix's Roma for best picture at the Oscars on Sunday has officially put movie theatres on notice. Roma is notable for foregoing the traditional route of national theatre distribution. This could become a theme as competition increases between streaming services such as Hulu and Amazon Prime for original content
If you’re interested in learning more about the potential industry fallout there’s a great article from Marketwatch here. And for those following the cannabis industry which we covered last week here’s another article from Marketwatch on this years Oscar swag bags.
The shoes of Duke basketball star Zion Williamson split apart during the Blue Devils game versus the Tar Heels on Wednesday. The problem for Nike is the shoes in question were theirs. In the aftermath, Zion was forced to leave the game, Nike potentially lost a powerful spokesperson for their brand, and Nike stock fell over one percent the following day. Nike stock is up around 13% this year and 25% over the past 12 months.
Final thoughts: The Wall Street Journal reported yesterday that there’s a good chance the March 1st deadline between the U.S. and China will be pushed back. As the Federal Reserve has officially softened their stance on interest rate hikes, this ongoing trade dispute is one of the main issues facing markets at the moment. More on that here.
Thanks for reading. I hope everyone has a great weeked. We’ll see you next week!
*These are the general views of Stanton Burns and they should not be construed as investment advice for any individual. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Stanton Burns does not maintain positions in any securities mentioned as of the writing of this article. Past performance is historical and does not guarantee future results.