U.S. stock indexes rose on Tuesday, extending their recent run on expectations that the Federal Reserve will cut interest rates this year, while a drop in shares of Walt Disney following the company's quarterly results limited their gains. Walt Disney fell 8.4% in early trading, as a surprise profit in its streaming entertainment division was eclipsed by a drop in its traditional TV business and weaker box office.
Stock Market Today: The Dow Jones rose Tuesday even as Disney dived on a revenue miss. AI stock Palantir plunged on earnings.
The Nasdaq Composite was up 0.2%. Shares of Walt Disney and Palantir Technologies sank after traders reacted to their respective earnings reports and outlooks. Federal Reserve Chair Jerome Powell sent yields falling and stocks rising last week when he downplayed odds of a rate increase, arguing he still believes the next move will be a cut.