TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and how “Deadpool and Wolverine” made movie history.
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00:00I'm Conway Giddens reporting from the New York Stock Exchange.
00:03Here's what we're watching on the street today.
00:05Investors have a lot to focus on this week,
00:07including a two-day meeting of the Federal Reserve.
00:10Policymakers are expected to lay the groundwork
00:12for a September interest rate cut when
00:14meetings wrap up on Wednesday.
00:16Meanwhile, this will be the busiest week
00:18of earnings season so far.
00:20McDonald's kicked things off by missing revenue and profit
00:23forecasts.
00:24Sales were down worldwide as inflation-weary consumers
00:27balked at the high price of a Big Mac.
00:30In other news, it was a box office bonanza
00:33for the latest Marvel superhero flick.
00:35Deadpool and Wolverine took in $205 million
00:38in US ticket sales over the weekend,
00:40making it the biggest R-rated debut in history,
00:43the eighth biggest domestic opening of all time,
00:46and the best of 2024.
00:49Throw in international tickets, and the movie
00:51took in another $233 million.
00:54This is a big win for Disney, which owns the Marvel franchise.
00:58This marks the 34th film under the Marvel Cinematic Universe,
01:02which has been suffering from superhero fatigue as of late.
01:05But Disney is looking to inject new energy
01:07into the brand with this, its first ever
01:10R-rated comic book flick.
01:12And instead of leaning on tired tropes,
01:14it turned to dark comedy featuring two fan favorites,
01:17Hugh Jackman's Wolverine and Ryan Reynolds' Deadpool.
01:20The success of Deadpool and Wolverine
01:22gives Hollywood a much-needed hero to save the day.
01:25Movie releases are still slim pickings
01:27after last year's workers' strike put production on ice.
01:30The box office is roughly 20% down so far this year.
01:34That'll do it for your daily briefing from the New York
01:36Stock Exchange.
01:37I'm Conway Giddens with The Street.