U.S. stock indexes rose on Tuesday, on track for a fourth straight positive session fueled by renewed expectations that the Federal Reserve will cut interest rates this year, despite declines in Walt Disney shares weighing on overall market gains. Walt Disney fell 9.8%, on track for its biggest percentage fall since November 2022, as a surprise profit in its streaming entertainment division was eclipsed by a drop in its traditional TV business and weaker box office. Despite Disney's drag, the three main U.S. stock indexes were trading at a more than three week high after a weaker-than-expected labor market report last week fueled bets that the U.S. central bank will cut rates.
Shares of The Walt Disney Company (NYSE:DIS) are sliding Tuesday after reporting second-quarter financial results. The Burbank, California-based company’s direct-to-consumer segment reached profitability in the second quarter — a key highlight for Bank of America analyst Jessica Reif Ehrlich. Here's what Ehrlich is saying about the report that saw Disney beat earnings per share and miss revenue estimates from analysts. Related Link: Disney Q2 Earnings Preview: Could Taylor Swift And Bluey Help M
Disney reported fiscal second-quarter results on Tuesday. Its combined streaming business of Disney+, Hulu and ESPN+ came very close to turning a profit.