Dow Surges 150 Points; Disney Posts Upbeat Q2 Results

U.S. stocks traded higher this morning, with the Dow Jones index gaining over 150 points on Wednesday.

Following the market opening Wednesday, The Dow traded up 0.43% to 41,002.53 while the NASDAQ gained 0.12% to 17,711.72. The S&P 500 also rose, gaining, 0.21% to 5,618.52.

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Leading and Lagging Sectors

Communication services shares rose by 0.6% on Wednesday.

In trading on Wednesday, information technology stocks fell by 0.1%.

Top Headline

Walt Disney Co (NYSE:DIS) reported better-than-expected fiscal second-quarter 2025 results on Wednesday.

The company reported quarterly revenue growth of 7% year-on-year to $23.62 billion, beating the analyst consensus of $23.14 billion driven by its Entertainment and Experiences businesses. Adjusted EPS of $1.45 beat the analyst consensus of $1.20.

For fiscal 2025, Disney projected an adjusted EPS of $5.75, an increase of 16% over fiscal 2024 versus a $5.44 analyst estimate (compared to the prior estimate of high-single-digit growth).

Equities Trading UP
                       

• Asset Entities Inc. (NASDAQ:ASST) shares shot up 176% to $1.70 after the company announced it entered into a merger agreement with Strive Asset Management to be the first publicly traded asset management bitcoin treasury company.
• Shares of Magic Empire Global Limited (NASDAQ:MEGL) got a boost, surging 63% to $1.94.
• CuriosityStream Inc. (NASDAQ:CURI) shares were also up, gaining 57% to $5.18 after the company reported better-than-expected first-quarter financial results and issued second-quarter sales guidance above estimates.

Equities Trading DOWN

• Digital Ally, Inc. (NASDAQ:DGLY) shares dropped 83% to $0.0880. Digital Ally received positive listing determination from Nasdaq.
• Shares of Vast Renewables Limited (NASDAQ:VSTE) were down 59% to $0.1521 r after the company announced it voluntarily delisted from the Nasdaq.
• The Hain Celestial Group, Inc. (NASDAQ:HAIN) was down, falling 48% to $1.44 after the company reported worse-than-expected third-quarter results, guided for a 5%-6% YoY decline in FY25 organic net sales, announced the departure of its CEO and said its board hired Goldman Sachs for a portfolio review.

Commodities

In commodity news, oil traded down 0.5% to $58.77 while gold traded down 0.8% at $3,395.70.

Silver traded down 1.1% to $32.990 on Wednesday, while copper fell 2.3% to $4.6700.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.6%, while Spain's IBEX 35 Index fell 0.7%. Germany's DAX 40 fell 0.5% and France's CAC 40 fell 0.9% during the session.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei falling 0.14%, Hong Kong's Hang Seng Index gaining 0.13%, China's Shanghai Composite Index rising 0.80% and India's BSE Sensex gaining 0.13%.

Economics

U.S. mortgage application volumes climbed by 11% from the previous week during the week ending May 2.

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