(Kevin Mazur/Getty Images) |
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World's largest game of pick-up sticks? The California Highway Patrol had an unusual roadside assistance request after thousands of chopsticks were spilled onto the interstate. The S&P 500 went nowhere on Tuesday while the Nasdaq 100 and Russell 2000 retreated. Consumer discretionary was far and away the worst-performing S&P 500 ETF; most gained on the day, led by consumer staples. Coca-Cola was a bright spot and AMC rocketed higher on elevated volumes and no news. |
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Ready to feel old? When YouTube launched nearly 20 years ago in 2005, there wasn't even an iPhone yet, and we all watched viral videos of silly pets and funny fails on our computers. But that didn't impede the insane growth of the site, and by the summer of 2006, it was serving 100 million videos a day. In November 2006, Google bought YouTube for a cool $1.65 billion. Fast-forward one more year and the introduction of the iPhone in 2007 let us all do more watching, recording, and sharing of videos, leading to even more explosive growth. |
- How explosive? CEO Neal Mohan revealed that we're watching more than a billion hours of YouTube every day, and for the first time, we're doing more of it on our TVs than on our phones. It's not entirely surprising: data showed that for the first six months of 2024, a quarter of all time spent streaming on US televisions was through YouTube.
- While you might think of Netflix as the streaming king, in reality, YouTube has consistently topped Nielsen's streaming platform viewership gauge for the past two years, handily beating Netflix. On the overall TV distributor list, it's hot on Disney's heels — even overtaking the studio in July.
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Wherever you watch it, YouTube is making money. Unlike a lot of other streaming platforms that came to advertising second, YouTube has long built video monetization into its strategy. While YouTube does have a subscription service, YouTube TV, its ad business is where the real money's at: it raked in $32 billion in ad revenue in 2023, compared with Netflix's total revenue of $34 billion. Meanwhile, every other streaming service is coming around to ad-supported tiers — check out our analysis of which ones give you the best bang for your buck here. |
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Happy 40th anniversary, Nasdaq! |
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Happy 40th anniversary, Nasdaq! |
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Tesla took a tumble Tuesday when details emerged about softer sales in the automaker's non-US territories. Some of this was already known — Tesla reported fewer deliveries than expected last month, and certainly those sales shortfalls had to happen somewhere — but since Tesla doesn't break out regional sales, the troublesome regions weren't exactly known. According to Reuters, sales were down 11.5% in China, and new data from Wards Intelligence pegs the US decline in January at 13% year over year, which does sting. It's Europe, though, where Tesla might be fretting the most, reporting from the Financial Times shows: |
- In January, sales were down 63% year over year in France.
- Sales were down 59.5% over the same period in Germany.
- Sales dropped 38% in Norway.
- The UK drop was somewhat more measured, coming in at 8%.
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Those are some rough numbers on the continent, as rising competition — especially from Chinese EVs — and a potential shift in the perception of Tesla front man Elon Musk have had analysts reconsidering their assessment of the firm. |
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On one hand, a reputational shift among consumers could be a serious issue for Musk's businesses in general and Tesla in particular. Lots of his businesses besides Tesla rely on contracts with countries and companies that might not love his moves within the US government. That said, Musk has always been a bit of a wild card, and lots of people have lost lots of money betting against his ability to make money. |
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The activist investor and oil refiner struck a deal a year ago. Apparently it wasn't enough. |
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Final Hours to Invest in Some of the Highest Grossing Characters in History |
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Final Hours to Invest in Some of the Highest Grossing Characters in History |
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Yesterday's Big Daily Movers |
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- January Consumer Price Index
- Earnings expected from CVS, Cisco, CME Group, Robinhood*, MGM Resorts, AppLovin, Reddit, Upwork, and HubSpot
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*Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company. |
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