Disney Streaming Subscriber Boom | February 11

by Luna Fuller
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Good Evening!

The DJIA fell 0.02%
The S&P 500 was up 0.22%
The Nasdaq Composite added 0.38%

Technology led the market as energy slipped.

General Market Review

Technology

Disney reported better-than-expected earnings and revenue. The company now has more than 146 million paid subscribers across its streaming services: Disney+, ESPN+, and Hulu. DIS was up 0.67% and 1.75% afterhours. Bumble debuted today, trading close to 77% higher than its IPO of $43.

Energy

OPEC+ lowered their forecasts for global oil demand, down 0.1 million bpd from an earlier forecast. Oil prices declined and these revisions were made because of an extended lockdown. Marathon Oil Corporation and Apache fell about 3%.

Economic Data

Weekly job claims were worse than investors expected last week. When expectations were set at 763,000, first-time claims totaled 793,000 even though Covid cases are declining.

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