What's moving markets today

By CNN Business
4:54 p.m. ET, March 25, 2019
4:47 p.m. ET, March 25, 2019

US markets close flat; Apple down 1.2%

From CNN Business' Jill Disis

US markets were all essentially unchanged at the end of trading Monday.

The Dow was up less than 0.1%. The S&P 500 and the Nasdaq both closed down small amounts.

Apple (AAPL) finished the day down 1.2% after it announced its new streaming service and other offerings, including a credit card.

Nike (NKE) increased 0.2% after federal prosecutors in New York charged lawyer Michael Avenatti with attempting to exert more than $20 million from the company. Earlier, the stock was down as much as 1.6% after Avenatti tweeted that he would hold a press conference to disclose a “scandal” involving Nike.

12:18 p.m. ET, March 25, 2019

The Dow goes positive

From CNN Business' Jordan Valinsky

Following a slump at the open, the Dow is now in positive territory. Here's a check:

  • The Dow is up 13 points, or 0.05%
  • Nasdaq is down 6 points, or 0.08%
  • S&P is flat

Here's a check of some stocks:

  • Viacom (VIAB) is rising 7% after inking a new deal with AT&T (T) to keep its channels on DirecTV and U-Verse. (AT&T owns WarnerMedia and CNN.)
  • Macy's (M) and Kohl's (KSS) are both up 3%.
  • Apple (AAPL) shares are slightly down ahead of its highly anticipated media event.
11:04 a.m. ET, March 25, 2019

Warning about 'meager demand' for Tesla Model 3 sends stock down

From CNN Business' Jordan Valinsky

A dour analyst note from RBC Capital Markets analyst Joseph Spak warning of "meager demand" for the Model 3 sunk Tesla's (TSLA) stock by as much as 2.75% in early trading:

  • He revised the number of Model 3 deliveries down for first quarter 2019 to 52,500 from 57,000.
  • Spak also lowered the stock's price target to $210 per share. It's currently trading around $260 per share.
  • "In our view, the balance sheet is stressed and additional capital may be required," he warned.
12:16 p.m. ET, March 25, 2019

Stocks open lower but quickly rebound

From CNN Business' Paul R. La Monica

Stocks stabilized Monday following Friday's huge sell-off on recession worries and weak economic data in Germany.

The Dow opened about 12 points lower but quickly moved higher in early trading. The S&P 500 and Nasdaq also opened slightly in the red before reversing those losses.

Shares of Apple (AAPL) were down a little less than 1% ahead of a big announcement later Monday where it is expected to reveal more about its streaming video plans.

Viacom (VIAB) shares soared 7% after the Nickelodeon and MTV owner reached a deal with AT&T's (T) DirecTV to avoid a blackout of Viacom's cable channels. (CNN Business is owned by AT&T's WarnerMedia.)

9:32 a.m. ET, March 25, 2019

Viacom and AT&T strike new deal

From CNN Business' Jordan Valinsky

Viacom and AT&T have agreed to a new carriage deal that keeps its channels, including Comedy Central, Nickelodeon and VH1, on DirecTV and U-Verse. Terms of the new contract were not disclosed.

"The deal also brings AT&T customers more choice and improved value for Viacom content," the two companies said in a statement. "We expect to announce additional details in the near future."

Viacom (VIAB) shares are up nearly 7% in early trading. AT&T (T), which owns CNN, is flat.

6:33 a.m. ET, March 25, 2019

Europe is getting a big new tech listing

From CNN Business' Ivana Kottasová

Naspers (NAPRF), the biggest investor in China's Tencent (TCEHY), has announced a plan to spin off its international internet assets.

The media, tech and investment firm, which was founded over a century ago in South Africa, is best known for paying $32 million in 2001 for a major stake in what was then seen as a young Chinese tech startup.

The investment has helped Naspers — which started as a small publishing house —compete with the likes of Amazon (AMZN), Facebook (FB) and Netflix (NFLX).

The company said it wants to list the new company in Amsterdam.

Naspers said it will own approximately 75% of the new company, which includes holdings in tech companies like Tencent, mail.ru and DeliveryHero.

6:34 a.m. ET, March 25, 2019

Apple's big day

From CNN Business' Frank Pallotta

We don't know exactly what Apple (AAPL) will debut during its big press event later today. A new streaming-video product? A revamped TV app and video storefront?

What is clear is that the tech giant will be jumping into an already crowded — and growing -— streaming market.

Apple is expected to roll out a streaming-video product at a press event in Cupertino — one that could come with a lineup of original programming from the likes of OprahReese Witherspoon and Steven Spielberg.

This video product, whatever shape it takes, will be competing for viewers' time and money against some of the biggest entertainment companies in Hollywood, which are creating, promoting and launching their own services in 2019.

The stock is unchanged in premarket trading.

6:34 a.m. ET, March 25, 2019

Global stock markets sink

From CNN Business' Sherisse Pham

Worries over slowing economic growth are weighing on global markets. US stock futures are pointing lower.

Stocks dropped sharply in Asia as investors reacted to disappointing manufacturing data from Germany on Friday, and a warning signal that a US recession could be on the horizon.

Japan's Nikkei (N225closed down 3% today, while Hong Kong's Hang Seng (HSIshed 2%.

Fears about a severe global economic slowdown hit stocks in Europe and the US on Friday:

  • US stocks on Friday suffered their worst day since early January after the yield on 3-month Treasuries rose above the rate on 10-year Treasuries for the first time since 2007.
  • A flattening yield curve, or the difference between short- and long-term rates, is typically seen as a sign that long-term economic confidence is dwindling.
  • The pain continued today, with benchmark indexes in Europe opening with losses of roughly 0.5%.