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May.26 — State Street Global Markets Senior Multi-Asset Strategist Daniel Gerard believes another trade war is increasingly likely due to the rhetoric out of the U.S. in an election year and geopolitical maneuvering of China in the region. He speaks with Haslinda Amin and Tom Mackenzie on “Bloomberg Markets: Asia.”

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Some travel insurers are refusing to give policyholders their money back despite trips being canceled because of the coronavirus.

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SpaceX and NASA are scheduled to launch the first orbital human spaceflight from U.S. soil since the Space Shuttle Program ended in 2011. But as SpaceX dominates the headlines, a large number of small launch startups are poised to fail. Photo: NASA/Tony Gray, Tim Terry & Kevin O’Connell

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HBO's new HBO Max streaming service will be rolled out on Wednesday. HBO Max is WarnerMedia’s and its parent AT&T's (T) hedge against consumers cutting the cord to traditional cable and satellite services. It aims to establish a direct relationship with its audience much the way Netflix (NFLX) and Disney+ (DIS) have. AT&T will use its roster of phone, broadband and pay-TV customers to drive subscriptions to the service.Netflix recently reported its largest subscriber surge in years, while Walt Disney Co.’s Disney+ topped 50 million users just months after it launched.Top HBO Max executives contemplated delaying the streaming service’s launch in mid-March, when the virus started forcing most Americans to stay home, according to Robert Greenblatt, chairman of HBO Max parent WarnerMedia Entertainment.However, Greenblatt said, "It quickly dawned on us that people were watching more television and we thought…‘let’s get this thing to the customers.’"HBO’s subscriber numbers have been relatively flat for the past several years at around 33 million, and WarnerMedia is betting that the broader mix of programming available on HBO Max will appeal to people who avoided HBO due to its often dark content.At $15 a month, the service will be costlier than its streaming rivals. Netflix currently costs new subscribers $12.99 a month and Disney+’s  is priced at $6.99 a month. WarnerMedia had to offer HBO Max at that price, however, because under existing agreements with cable and satellite operators it isn’t allowed to make the service cheaper than HBO or current streaming service HBO Now.Current subscribers to HBO will have access to HBO Max at no extra charge either through HBO Now or if their pay-TV distributor has cut a deal to offer the new service.AT&T stock is down 18% over the past 3 months, but TipRanks data shows a Moderate Buy consensus around AT&T stock in the last 3 months. An average analyst price target of $33.62, implying 12.5% upside potential in the shares in the coming 12 months. (See AT&T stock analysis on TipRanks).Related News: Uber’s Latest Takeover Offer Said To be Rejected By GrubHub   Weight Watchers Fires Thousands Over Zoom Facebook Workplace Hits 5 Million Paid Users As Remote Work Demand Rises More recent articles from Smarter Analyst: * Australia’s New Century In Talks To Buy Vale’s Nickel, Cobalt Mine * Air Canada’s Proposed Takeover Of Transat Faces EU Anti-Trust Probe * Uber Cuts 600 Jobs In India, Cites Unpredictable Covid-19 Recovery * Latam Airlines Files For Chapter 11 Bankruptcy Protection In U.S.

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President Trump and presumptive Democratic nominee Joe Biden approach Memorial Day differently; Pharmaceutical giant Merck makes deals for vaccines; Wuhan, China, says it has tested more than nine million people in 10 days. WSJ’s Shelby Holliday has the latest on the pandemic. Photos: Evan Vucci and Patrick Semansky/Associated Press

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Top news and what to watch in the markets on Tuesday, May 26, 2020.

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May.25 — Bayer AG has reached verbal agreements to resolve a substantial portion of an estimated 125,000 U.S. cancer lawsuits over use of its Roundup weedkiller, according to people familiar with the negotiations. Tim Loh reports on “Bloomberg Markets: European Open.”

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