8:50 a.m. Dec. 11, 2020
- By Mark DeCambre
The Dow would likely be having its worst day in December if not for Disney's stock surgeThe Dow Jones Industrial Average was trading firmly lower Friday afternoon but it would be worse were if not for shares of Walt Disney & Co. , which was on track for its best day since March 24, according to FactSet data. Disney's shares were currently up about 13%, or around $20 higher, which translates to a roughly 136-point contribution to the price-weighted Dow . Disney's gains on Friday come as the entertainment giant said it was upping its digital streaming offerings, making it one of only a handful of companies trading higher within the Dow on the session. If Disney were trading in step with the other winners in the Dow, it would translate to a roughly 130-point point reduction in the index, which would add to its current 130-point skid, placing near the worst one-day decline since Nov. 30 when the index fell over 270 points. The divisor for the Dow is 0.15198707565833. That means that a $1 change in a component would result in a change of 6.58-point swing.
12:06 p.m. Dec. 2, 2020
- By Mark DeCambre
S&P 500 notches 28th record close of 2020 but stock market posts tepid gain on WednesdayU.S. stock benchmarks finished the session slightly higher on Wednesday, with the slight gains enough to notch a fresh all-time high for the S&P 500 index. Gains for the broad-market benchmark were driven by a surge in the energy sector, up 3%, and financials, 1.1% higher, to help the S&P 500 eke out a 0.2% gain to reach 3,669, despite over 1% declines in materials and real estate. The Dow Jones Industrial Average finished 0.2% higher, as an 8.5% decline in Salesforce.com , after its announced $27.7 billion buy of Slack Technologies was officially announced late Tuesday, was offset by gains in Boeing Co. , Goldman Sachs , Walt Disney Co. , Chevron Corp. , American Express Co. and Walgreens Boots Alliance Inc. . The Nasdaq Composite, however, finished less than 0.1% lower at 12,349. Markets turned positive late in the session after Democratic congressional leaders a coronavirus fiscal stimulus proposal that has bipartisan support in both chambers of Congress on Wednesday. In economic reports, U.S. businesses created 307,000 private-sector jobs in November, ADP said Wednesday, marking the smallest increase in four months and suggesting a record increase in coronavirus cases has hurt hiring. Markets have mostly been trending higher on the back of vaccines to fight COVID-19. That said, an account of business conditions from the Federal Reserve's business districts, the Beige Book, indicated that worry about economic expansion without fresh economic relief was weighing on activity.