Disney magic for Dow | Banking with Google? | Trade deal doubts
EDITOR'S NOTE
Today's record high in the Dow Jones Industrial Average was brought to you by Disney.
Stock of the entertainment giant rose more than 7% during trading Wednesday, and as one of the 30 Dow components, it lifted the index to yet another all-time high. The Dow ended the day higher even after news broke of more snags in U.S-China trade dealings.
Disney shares have more upside to go, according to Credit Suisse, which upgraded the stock Wednesday. The move followed the launch of Disney+ and an announcement that the new streaming service has already reached 10 million subscribers.
It's an impressive start for Disney+, which costs $6.99 a month or is offered free to some Verizon customers. Still, it's likely to remain dwarfed by Netflix for some time to come. Everything streams through the internet, mixing the business models of companies that used to stay in their lanes.
Google has just announced plans to offer checking accounts, but it's not to compete with banks, writes CNBC's Kate Rooney. It's to compete with Amazon in gathering consumer data.
With data being the new oil, many big tech firms are headed this way, including Apple with its new credit card. Whoever gets the most data wins.
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