Disney Among the Winners on a Cautious Wall Street After Earnings

Disney Results Drive Success

Disney shares surged 7.6% in pre-market trading Thursday after the entertainment giant reported better-than-expected earnings for its fiscal first quarter.

The company’s streaming service, Disney+, added 14.9 million subscribers during the quarter, bringing its total to 164.2 million.

Disney’s parks and experiences division also saw a rebound, with revenue increasing 32% to $7.2 billion.

Strong Quarter for Tech Stocks

The tech-heavy Nasdaq Composite was up 1.5% in pre-market trading, led by gains in Amazon, Apple, and Microsoft.

Amazon shares rose 2.3% after the e-commerce giant reported strong holiday sales.

Apple shares gained 1.7% after the company announced plans to invest $1 billion in a new semiconductor design center in Arizona.

Mixed Bag for Other Sectors

Other sectors were more mixed in pre-market trading.

Consumer staples stocks were down, with Procter & Gamble and Coca-Cola both trading lower.

Energy stocks were up, with Exxon Mobil and Chevron both trading higher.

Cautious Market Sentiment

Overall, the market sentiment was cautious ahead of the release of the January jobs report later in the day.

Investors are watching for signs of a slowdown in the economy, which could lead to a decline in corporate profits.

However, the strong earnings reports from Disney and other companies suggest that the economy is still on solid footing.