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Afternoon Note

Disney in Focus

By Karina Hernandez, Senior Research Analyst
11/8/2023 1:51 PM

It is one of the busiest days of the earnings season, with the spotlight on results from Disney (DIS) after the bell (more below). Additionally, the Street is keeping an eye on the comments from several Federal Reserve speakers, who so far have dampened the market’s enthusiasm.

At a conference at the Fed’s Division of Research and Statistics, Fed chairman Jerome Powell noted that the economy was “flexible and dynamic.” He didn’t offer any comments about monetary policy. Three more Fed speakers are scheduled to deliver speeches later today.

On the economic front, Wholesale Inventories saw a modest increase in September by 0.2%, economists were expecting inventories to be unchanged. The unexpected tick was driven by a 0.2% increase in inventories of durable goods and 0.1% increase in non-durable goods.

Technology is one of the two sectors in positive territory driven by a rally continuation from top component Apple (AAPL).

The U.S. treasury sold $40 billion in 10-year notes. The average yield was 4.519%, slightly lower than the previous auction’s 4.610%.

Disney (DIS) is set to report fourth quarter results after the bell. Investors will be looking for improvement in the streaming business after hiking prices, as well as growth in its Parks, Experiences and Products segment.

Date

Consensus

1-Week

1-Day

8/9/23

+$0.99

-1.4%

+4.8%

5/10/23

+$0.95

-8.4%

-8.8%

2/8/23

+$0.79

-2%

-1%

11/08/22

+$0.59

-4.7%

-13.4%

8/10/22

+$0.98

+9.4%

+4.8%

 
Stocks are slipping with all three major indexes on track to snap winning streaks.

 

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