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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Amazon has initiated a pilot program allowing a limited number of Hyundai dealers to sell vehicles via Amazon's platform. This test phase is currently open only to Amazon employees. The effort reflects Amazon's ambition to streamline the complex and highly regulated car buying process online. The automotive market in the U.S., encompassing new and used car sales, is estimated to be between $2.5 to $3 trillion. While some segments, like EV sales, have seen a shift towards online purchasing, the majority of the new car market, largely operated by franchised dealers, hasn't fully transitioned to online sales. Dealers are observing Amazon's venture, with some skepticism about its potential to overcome industry challenges.

2. Netflix has secured a deal to air WWE's "Raw" program starting next year, marking its first major entry into live sports broadcasting. The 10-year agreement, valued at over $5 billion, grants Netflix global streaming rights for "Raw," along with exclusive rights in specific regions, including the U.S., Canada, U.K., and Latin America. Additionally, Netflix will host all WWE shows and specials outside the U.S. The deal has caused a surge in TKO Group Holdings' shares, with actor Dwayne Johnson joining its board. This move represents a significant shift for Netflix, expanding its content to include live sports programming.

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4. Headlines

   1. Bitcoin is down $10k since Bitcoin ETFs were improved.

   2. China has announced a $278B fund to stabilize its stock market and economy.

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