U.S. stocks on Tuesday finished in the green, marking a third consecutive gain for equity gauges, ahead of a key inflation reading, even as shades of last week's brutal selling lingered.
The Dow Jones Industrial Average rose 39.18 points, or 0.2%, to 24,640.45, supported by a rise in shares of Goldman Sachs Group Inc. and Caterpillar Inc., while a decline in United Technologies Corp.'s stock UTX, -1.26% represented the biggest drag on blue chips.
The S&P 500 index added 6.94 points, or 0.3%, to 2,662.94, with the consumer staples and the real-estate sectors supporting the broad-market benchmark's climb.
The Nasdaq Composite Index COMP, +0.45% meanwhile, rose 31.55 points to 7,013.51, an advance of about 0.5%.
The next big catalyst for the market could be on Wednesday's January consumer-price-inflation data. There are concerns that if CPI comes in hotter than expected, it could spark another sell-off, as worries about higher prices and its effect on the Federal Reserve's interest-rate hiking plans triggered last week's dramatic selling and spike in volatility.
Netflix pouched producer Ryan Murphy for multimillion-dollar deal
The streaming giant Netflix has won yet another battle against old Hollywood.
On Tuesday night, Netflix announced that it had poached the hit-making producer Ryan Murphy from 21st Century Fox. The five-year deal is worth as much as $300 million.
That would be one of the biggest deals ever made for a television producer.
Murphy's contract with 21st Century Fox expires this summer, and he will reportedly start at Netflix in July. Murphy's move is seen as a huge get for Netflix, and a serious creative blow to Fox, which is in the process of being acquired by Walt Disney Co. A factor in Mr. Murphy's decision to join Netflix was the uncertainty brought on by the agreement between Disney and Fox.
Last year, Netflix poached star producer Shonda Rimes from Disney's ABC Studios to a multiyear production deal, and Oscar-winning filmmakers Joel and Ethan Coen also signed a deal to produce a Netflix series.
In his statement on Tuesday evening, Mr. Murphy expressed his gratitude toward Netflix's chief executive officer, Reed Hastings; its chief content officer, Ted Sarandos; and its vice president for original content, Cindy Holland.
New ambition for Amazon: to be a Major Hospital Supplier.
Amazon.com Inc. is pushing to turn its nascent medical-supplies business into a major supplier to U.S. hospitals and outpatient clinics that could compete with incumbent distributors of items from gauze to hip implants.
The e-commerce giant is looking to expand its Amazon Business marketplace to serve the health-care industry.
The company recently dispatched employees to a large Midwestern hospital system, where hospital officials are testing whether they can use Amazon Business to order health-care supplies for the hospital system's roughly 150 outpatient facilities.
Amazon has been making moves and dramatically disrupting the health-care industry over the last year.
In October, analysts and the media noticed Amazon was granted wholesale distribution licenses for medical devices in several states. The license was first reported by the St. Louis Post-Dispatch.
In December, CVS Health, an integrated pharmacy healthcare company, announced that will acquire Aetna, a diversified healthcare benefits company, for about $69 billion in cash and stock. Analysts and the former Aetna CEO John Rowe said the merger was triggered by concerns Amazon will enter the drug business.
Last month, Amazon, Berkshire Hathaway and J.P. Morgan Chase announced a partnership to cut health costs and improve services for employees. The announcement was light on details, but said three top executives from each company will take the lead on the project.
Amazon shares rose around 1.2% on Tuesday.
Disclaimer
This article was issued by Linda De Luca, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.