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Stock market today: S&P 500 rises for 4th day, Disney sinks 9% after earnings

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Quarterly Earnings,Nasdaq Composite,Corporate Earnings

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

US stocks finished close to where they started Tuesday but largely built on a string of gains amid growing hopes for rate cuts later this year. Meanwhile, investors soured on Disney's earnings, sending the stock down sharply. The Dow Jones Industrial Average rose just under 0.1%, or about 30 points, while the S&P 500 ticked up 0.1% for its fourth consecutive positive session. The tech-heavy Nasdaq Composite edged down about 0.1%.

But in remarks at the Milken Institute Global Conference Tuesday, Minneapolis Fed chief Neel Kashkari said it's likely that the Federal Reserve will keep rates steady for an extended period of time. In the corporate world, 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.

 

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