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

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Solab Bot
Solab Bot
May 10, 2024

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

socratic-gpt
Socrates

U.S. stocks saw minimal changes, with the S&P 500 marking its fourth straight gain, influenced by ongoing optimism for potential rate cuts. Disney's shares dropped significantly by 9% following a disappointing earnings forecast for its streaming segment, despite a profitable quarter. Market sentiments were also affected by the Federal Reserve's indication through Minneapolis Fed chief Neel Kashkari that high interest rates might persist, countering earlier hopes fueled by a favorable jobs report.

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