Disney, Roku Shares Surge as Wall Street Makes Big Gains on Potential Stimulus Deal
After a brutal month of trading spurred by the coronavirus outbreak, Wall Street enjoyed a big surge on Tuesday, with a number of entertainment giants, including Disney and ViacomCBS, seeing their shares jump at least 10% on the day. Tuesday’s rally was due in large part to investors anxiously betting on U.S. Congress soon reaching an agreement on a stimulus plan to counteract the economic damage caused by COVID-19. Here’s a quick look at the three major indexes: The Dow Jones Industrial Average increased 11.4%, or more than 2,000 points, to close at 20,705 points. The S&P 500 increased 9.4%. Nasdaq increased 8.1%. Disney shares spiked 14.4% to $98.10 per share. The gains gave Disney shareholders a brief pause on several weeks of pain; the company was trading near $140 per share last month, but the departure of CEO Bob Iger, followed by the temporary closing of its parks and postponement of its theatrical releases, has sent Disney shares crashing down in recent weeks. Also Read: Comcast Reverses Course on Coronavirus: Pandemic 'Could Have Material Adverse Impact' ViacomCBS had an even bigger day, with its shares increasing nearly 31% to $14.75 per share. Even after Tuesday’s gain, the company is...
Read original story Disney, Roku Shares Surge as Wall Street Makes Big Gains on Potential Stimulus Deal At TheWrap
