June 18, 2024

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5 things to know before the stock market opens Thursday, November 9

2 min read

Here are the most important news items that investors need to start their trading day:

1. Going streaking

The S&P 500 just posted its longest winning streak in two years. The broad market index added a modest  0.1% on Wednesday, but it’s now been positive for eight days in a row. The last time that happened was in November 2021. The Nasdaq Composite was up a meager 0.08% for the session, but at nine positive days, it’s also seeing its longest streak in two years. The Dow didn’t join in on the fun, falling in Wednesday’s trading and snapping its best win streak since July. But it could see a boost from Disney on Thursday, which is up nearly 4% in premarket trading. Follow live market updates.

2. Disney’s ace

People walk in front of the Disney store on August 07, 2023 in New York City.

Kena Betancur | Corbis News | Getty Images

Disney‘s fourth-quarter earnings topped expectations when it released results after market close on Wednesday, but revenue came up short. The entertainment giant said it saw a decline in ad revenue, primarily from Disney’s ABC Network and other owned TV stations. It also plans to expand its cost-cutting measures by an additional $2 billion. But ESPN was a bright spot. This was the first time Disney broke down its three divisions: entertainment, sports and experiences. ESPN, listed under sports, saw its revenue and operating income rise in the quarter. “It’s on a great trajectory,” CEO Bob Iger said about ESPN, in an interview with CNBC’s Julia Boorstin on Wednesday. “And the ratings are actually very strong, too. ESPN had one of the strongest years ratings wise, I think, in the last four or five years in 2023. That’s a great thing.”

3. Strike that

SAG-AFTRA members walk the picket line on the 100th day of their ongoing strike outside Paramount Studios in Los Angeles, California, October 20, 2023.

Mario Anzuoni | Reuters

The Hollywood actors’ strike is over, as of early Thursday morning. The actors’ union and studios finally have a preliminary labor…

2023-11-09 06:33:00

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