Disney Beats Expectations, Announces Disney+ Launch
Senior Vice President Chris Keith has the market analysis for Tuesday, February 5. Major U.S. stock indexes advanced, with the Dow Jones Industrial Average, S&P 500 and NASDAQ up 0.7%, 0.5% and 0.8%, respectively. Meanwhile, the Institute for Supply Management’s service sector index revealed a 2.2% decline in January from the previous month. Despite this recent slowdown, due in part to the government shutdown and ongoing trade uncertainty, the sector remains in expansionary mode. On the earnings front, Disney’s stock rose 2% in extended trading after the company beat earnings expectations and announced the launch of its “Disney+” streaming video platform.