Updated from 5:57 a.m. ET
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Here are five things you must know for Wednesday, Aug. 9:
1. -- U.S. stock futures were falling, European shares declined and Asian shares traded lower on Wednesday, Aug. 9, amid increasingly dangerous rhetoric between North Korea and the United States.
The U.S. dollar, which gained against both the euro and the pound in overnight trading in Asia, trimmed its advance as investors moved into gold, the franc, U.S. Treasury bonds and the yen amid threats of an attack on the U.S. territory of Guam by North Korea after Donald Trump told reporters Tuesday that "North Korea best not make any more threats to the United States" and that any aggression from Pyongyang would be met by "fire and fury like the world has never seen."
The Dow Jones Industrial Average made a swift move lower on Tuesday, Aug. 8, snapping a record-breaking streak after the tensions with North Korea escalated.
The Dow tumbled 0.15% in the final hour on Tuesday, retreating from an intraday record set earlier and breaking a nine-day streak of closing at all-time highs. The Dow had been on track for its 10th record close in a row earlier in the session.
The economic calendar in the U.S. on Wednesday includes U.S. Productivity and Costs for the second quarter at 8:30 a.m. ET, Wholesale Trade for June at 10 a.m., and Oil Inventories for the week ended Aug. 4, at 10:30 a.m.
Chicago Federal Reserve Bank President Charles Evans is scheduled to speak about current economic conditions and monetary policy in a closed group interview with representatives of the press in Chicago at 1 p.m.
2. -- Shares of Walt Disney Co. (DIS) - Get Walt Disney Company Report fell 3.4% in premarket trading on Wednesday after the media giant posted mixed third-quarter results, said it would be pulling its movies off Netflix, and announced it would launch an ESPN streaming service in 2018 and start its own branded direct-to-consumer streaming service in 2019.
CEO Bob Iger said Disney is planning to leverage new technologies to sell its television shows, movies and sporting events directly to consumers while maintaining its current relationships with pay-TV operators.
"It's high time given the technology available to us that we connect to them directly," Iger said Tuesday following the release of earnings. "We believe ultimately that our ability to generate revenue and grow profits will be greater than the business models that we currently have."
Disney announced a deal to take a majority stake in BAMTech, the technology platform that already powers its digital services. Disney will pay $1.58 billion to acquire 42% of BAMTech, a sprawling operation originally created by Major League Baseball. A year ago, Disney purchased a 33% stake in BAMTech for $1 billion. Iger said that controlling BAMTech will allow Disney to roll-out the direct-to-consumer services.
For the quarter ended in June, Disney earned an adjusted $1.58 a share on revenue of $1.42 billion, both of which were modestly ahead of analysts' estimates but came in below year-earlier figures.
Disney's licensing deal with Netflix expires in 2019. Netflix on Tuesday said that subscribers would have access to Disney films through the end of 2019 and that it will continue to license content from Marvel TV.
Disney is responsible for roughly 30% of all Netflix viewing in the U.S., Bloomberg reported, citing a company executive.
Vantiv, based in Cincinnati, will pay 3.97 pounds a share in cash, stock and dividends for Worldpay, a 24% premium to the closing price on July 3, when news of the talks became public.
The combined company will process about $1.5 trillion of payments through over 300 payment methods in 146 countries, the Associated Press reported.
"This is a powerful combination that is strategically compelling for both companies," said Vantiv CEO Charles Drucker. "It joins two highly complementary businesses, and will allow us to achieve even more together than either organisation could accomplish on its own."
5. -- Earnings are expected Wednesday from Twenty-First Century Fox Inc. (FOXA) - Get Fox Corporation Class A Report , Mylan NV (MYL) - Get Mylan N.V. (MYL) Report , Wendy's Co. (WEN) - Get Wendy's Company Report , Office Depot Inc. (ODP) - Get ODP CORPORATION Report , Scripps Networks Interactive Inc. (SNI) and Tribune Media Co. (TRCO) - Get Tribune Media Co. Class A Report .
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