Updated March 26, 2019 08:56:07

Photo: Apple is launching a new streaming service to compete with Netflix and Amazon. (Supplied: Apple)

Australian shares are expected to open slightly higher, as US and European markets continue to be weighed down by worries of slowing economic growth.

The Dow Jones index closed 0.1 per cent higher at 25,517. Meanwhile, the S&P 500 and Nasdaq indices fell 0.1 per cent each.

Investors largely shrugged off special counsel Robert Mueller's report that US President Donald Trump's campaign did not collude with Russia.

The report left unresolved the issue of whether Mr Trump obstructed justice by undermining the investigations that have dogged his presidency.

Meanwhile, top US officials are travelling to Beijing for the latest round of high-level talks, which are scheduled to start on March 28.

European markets finished lower, with London's FTSE and Germany's DAX slipping 0.4 and 0.2 per cent respectively.

The Australian dollar has risen slightly to 71.1 US cents, 53.86 British pence and 62.84 euro cents at 7:30am (AEDT).

ASX futures have risen 0.2 per cent.

Apple unveils streaming service

Technology giant Apple was the biggest drag on Wall Street.

Its stock dropped 1.2 per cent after the iPhone maker unveiled Apple TV+, its long-awaited video streaming service, during an event at its Cupertino, California, headquarters.

Apple has commissioned TV programs from Hollywood celebrities including Jennifer Aniston, Reese Witherspoon, Oprah Winfrey and Steven Spielberg — who all spoke at the event to promote their upcoming shows.

But Apple, known in the tech industry for keeping its products secret until they are finished, left out key pricing details for several of its new services, unnerving investors and sending its share price lower.

As Apple struggles with saturated markets and sales of its iPhone fall, the company is turning more of its attention to services that provide regular subscription revenue.

Its streaming service will be released later this year, and will be compete against streaming video leaders Netflix and Amazon.

However, Apple is taking a different approach by offering paid channels from HBO, Starz and Showtime alongside its own content.

The world's second-most valuable tech company also launched its own credit card (the Apple Card), backed by Goldman Sachs and Mastercard.

It also introduced Apple Arcade, a video game subscription service that will work on phones, tablets and desktop computers and include games from a range of developers.

The announcement of its gaming service comes one week after Google unveiled its own cloud-based gaming platform Stadia.

In addition, the company said its free news app will now come in a paid-subscription version, called Apple News+, which curates a range of news articles and will include 300 magazines including National Geographic, People and the New Yorker.

ABC/Reuters

Topics: stockmarket, business-economics-and-finance, markets, currency, australia

First posted March 26, 2019 07:48:16