“Joker: Folie à Deux” flops in its opening weekend

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why “Joker: Folie à Deux” had a rough weekend.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching on the street today.

00:04Stocks took a breather Monday after posting four straight weekly gains. Higher bond yields and oil prices weighed on sentiment,

00:12mid-week tensions, and a rethink of how quickly the Federal Reserve will lower interest rates were also factors. In addition,

00:18investors are also gearing up for the start of earnings season. On Tuesday, Pepsi will kick things off with its quarterly results.

00:25Wall Street will also keep an eye on Amazon's two-day prime sales event.

00:31In other business headlines, Hollywood is licking its wounds after a high-profile flop.

00:37Joker, forlay ado, tanked in its box-office debut. The film, with Joaquin Phoenix

00:43reprising the role that won him a Best Actor Oscar in 2020, took in only 40 million dollars in this initial weekend.

00:51The first Joker took in 96 million in its 2019 debut.

00:55It then went on to rake in 1 billion dollars in global sales and earn 11 Oscar nominations.

01:02This Joker update cost considerably more than its predecessor.

01:06The price tag came in at about 200 million dollars, not including marketing spending. In

01:11comparison, the original Joker cost only 55 million dollars to make. The failure of Joker, forlay ado,

01:18may be a classic case of what can go wrong when experimenting with comic book movies.

01:24Hollywood wants to extend the life of the genre after two decades of money-making

01:30blockbusters. The three Deadpool movies were successful by taking a comedic route,

01:34but that wasn't the case here. While the Joker sequel retains the dark mood of the original, it takes a

01:41musical interpretation, with Lady Gaga as Joker's love interest and co-partner in crime.

01:47Hollywood can hardly afford a repeat ticket sales already down 11% compared to the same time last year.

01:54The industry hopes Wicked, along with upcoming sequels for Gladiator,

01:58Moana, The Lion King and Lord of the Rings, can salvage this year's box office.

02:05That'll do it for your daily briefing from the New York Stock Exchange. I'm Conway Gittins with The Street.

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