Chapter 1: What is the main topic discussed in this episode?
Public.com presents The Rundown, your daily market update in under 10 minutes. My name is Zaid Admani, and today is Friday, March 27th.
In today's episode, we'll break down why the NASDAQ just entered correction territory and what it means for your portfolio. We'll also tell you why your Netflix bill is going up and why your summer flight to Europe might cost you double. Then stick around to the end of the show to find out how Apple is quietly making a billion dollars a year from AI. We got a great show for you today. Let's go.
Well, Thursday was an absolutely brutal one for the stock market. The S&P 500 tanked 1.7%, while the Nasdaq dropped 2.4%. It was the worst day for stocks since the war started with Iran about a month ago. Tech stocks were some of the biggest losers yesterday. Nvidia and Google both dropped 4%, while Meta dropped 8% after back-to-back courtroom losses this week.
Chapter 2: What does it mean that the Nasdaq has entered correction territory?
I talked more about Meta's courtroom drama on yesterday's show, so go check that out if you missed it. But yeah, it seems like tech is now back to struggling like we saw at the start of the year. In fact, the NASDAQ is now officially in correction territory, which means that it's down 10% since its record highs from back in late October.
Mini fun fact, the NASDAQ hasn't made a record high in over 100 days. Now, zooming out, the Iran war and oil prices are still driving the overall market sentiment. And despite there being talks of a peace deal and a potential ceasefire, the market doesn't seem to be buying that anymore. President Trump has said that negotiations with Iran are ongoing.
He also extended the delay on striking Iranian energy infrastructure by another 10 days. Remember, the original deadline for the pause was today, but now it's April 6th. President Trump went as far to say that Iran had allowed 10 oil tankers to pass through the Strait of Hormuz this week as a present to the United States. And typically the market is quick to jump on positive news like this.
But for some reason, that's not happening anymore. In fact, Brent crude oil jumped more than 5% and it's now back above $110 a barrel as of this morning. Even the bond market is sending signals the 10-year treasury yield just hit its highest level since July. So we might be at a point where the market is finally starting to panic a bit about the Iran situation and a potential prolonged conflict.
So yeah, the next few weeks are going to be very interesting for the world and our portfolio. We're going to break it all down for you guys every morning. So make sure you guys are subscribed to the podcast and tuning in every day to stay in the loop. Let's run through some headlines, starting with Netflix. Netflix is raising prices again here in the US.
This is becoming like a yearly thing at this point. I mean, Netflix just raised prices back in January of 2025. The ad supported plan is going from $8 to $9 a month. The standard plan is jumping to $20 a month, up from 18, and the premium tier is now $27 a month, up from 25. They're also increasing the prices on the extra member add-ons.
So if you're sharing your account with someone outside your household, that's gonna cost more now. According to TD Cohen, this price hike is estimated to bring in 6% more in average revenue per subscriber in the US and Canada region. The thing is Netflix has pricing power. They can just keep raising prices by a dollar or two every year because people are unlikely to cancel.
Netflix has the lowest cancellation rate out of any streaming service. So that's a big part of their bull case. You know, we might all complain about the price hike for a day or two, but most people aren't canceling. What I find funny is that everyone thought that Netflix would raise prices if they ended up merging with Warner Brothers.
Well, they backed out of that merger, collected a $2.8 billion break of fee in the process, and they raised prices anyways. Now Netflix does plan to invest more heavily in content. Their content spend is expected to hit $20 billion in 2026, up from $18 billion in 2025. And that content is now expanding to things like video podcasts and live sports, which are expensive.
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