Dow Jones futures edged higher late Thursday, along with S&P 500 futures and Nasdaq futures. Boeing stock extended its into-the-close rally with modest gains in late trading. Meanwhile, Disney stock wasn’t moving much even as Walt Disney (DIS) unveiled its Disney+ streaming service. It’s a big rival to streaming giant Netflix (NFLX), but could end up crowding out the upcoming Apple streaming service.


Meanwhile, a fourth Dow Jones stock, JPMorgan Chase (JPM), kicks off bank earnings on Friday along with Wells Fargo (WFC).

Dow Jones Futures Today

Dow Jones futures rose 0.1% vs. fair value. S&P 500 futures climbed 0.1%. Nasdaq 100 futures were a fraction above fair value. Even though Apple (AAPL) has a market cap more than four times as large as Boeing stock, the latter is the biggest weight in the price-weighted index.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

In Thursday’s stock market, the Dow closed slightly lower while the S&P 500 index finished just above break-even. The Nasdaq lost 0.2%. Growth fared relatively well once again.

Among the best ETFs, Innovator IBD 50 rose 0.1%. The iShares Expanded Tech-Software Sector ETF (IGV) climbed 0.2%. VanEck Vectors Semiconductor (SMH) dipped 0.1%. All three growth ETFs outperformed strongly on Wednesday.

Boeing 737 Max Test Flights

Boeing CEO Dennis Muilenburg said the 737 Max has made 96 test flights with more planned. He said a Boeing 737 Max software fix may be turned over to the FAA for review in a couple of weeks. But the FAA and international regulators are likely to take months before allowing the 737 Max back in the skies.

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Boeing stock did rise 1.4% on Thursday, with all of the gain coming in the last 15 minutes. Shares rose nearly 1% in late trade. Boeing stock has held support at its 200-day line but is stuck below its 50-day.

Disney+ Unveiling

Disney CEO Bob Iger late Thursday detailed the upcoming Disney+ streaming service, which will have a massive content library as well as new shows from the well-known brands of Star Wars, Marvel, Monsters Inc. and more.

Disney+ will cost $6.99 a month, far less that Netflix’s $13.

Disney also said it’s likely to bundle Disney+ with its ESPN+ streaming service and its majority-owned Hulu.

Disney is pulling much of its existing content from Netflix, which has worked to beef up its own content in recent years. Many analysts have argued that Disney+ may attract many subscribers, but likely won’t spur many people to cancel their Netflix subscriptions.

Apple Streaming Impact?

What Disney+ might do is crowd out new streaming services, namely the upcoming Apple video offering.

Apple touted its own service at an event late last month. While it teased some high-profile content, the overall lineup will be very compared next to Netflix and Disney+. Building that content up will be expensive.

Apple may see streaming TV as a way to keep people in the iPhone ecosystem. much like Amazon (AMZN) treats Amazon Prime Video as a an add-on to keep people in Amazon Prime.

Of course, that means tens of millions of people have Netflix, Amazon Prime Video, with many also having Hulu or HBO, not to mention to traditional cable, satellite or cable-like streaming services. Add in Disney+, and there could easily be video subscription overload.

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Disney+ Is No Disney Stock Plus Late

Disney stock, Apple stock and Netflix stock were little changed in late trade, while Amazon stock edged lower.

Apple stock closed down 0.8% and Disney stock 0.5%, but both closed in buy range from lackluster breakouts and bases. Netflix rose 1%, hovering just below its own less-than-stellar base. Amazon stock dipped 0.2%, slightly extended from a recent buy point.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.


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