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Stock market today: Stocks open higher, Disney sinks after earnings

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Quarterly Earnings News

Disney,Nasdaq Composite,Federal Reserve

Results from Disney took center stage as the media giant posted the first profit for a key part of its streaming business.

US stocks rose slightly to open Tuesday trading following a string of gains, as investors soured on Disney's earnings and hoped that interest-rate cuts are in the cards as soon as later this summer. The Dow Jones Industrial Average stepped up roughly 0.2%, while the S&P 500 gained about 0.3% after the benchmark scored its best three-day run in a standout 2024. The tech-heavy Nasdaq Composite ticked up 0.2%.

Results from Disney took center stage as the media giant delivered its first quarterly earnings since winning its proxy fight with activist Nelson Peltz last month. The company's earnings beat Wall Street estimates as a key part of its direct-to-consumer streaming business — which includes Hulu and Disney+ — turned its first profit. But shares tumbled after the company said it expects weaker results in that segment for the current quarter.

 

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