SAN JUAN – The U.S. Stock market rallied Wednesday as investor optimism moved from the bond markets to the equity markets.
Another Wall Street stalwart that reported earnings was the Walt Disney Co. (DIS). Its third-quarter (3Q) earnings fell to $ 11.78 billion from $ 20.26 billion in 2019. However, when compared with the same nine-month period, 2020 revenue was slightly higher, coming in at $ 50.6 billion versus $ 50.4 billion in 2019. In terms of net income, Disney reported a 3Q2020 loss of $ 4 billion versus $ 2 billion in 2019. Its shares closed at $ 127.50, up to $ 10.29, or 8.7%. The company's bright spot was its Disney + streaming service, which added 100 million subscribers.
On to markets:
- The Dow Jones Industrial Average closed at 27,201.52, up 373.05 points, or 1.39%.
- The Standard & Poor's 500 Index closed at 3,327.77, up 21.26 points, or 0.64%.
- The NASDAQ Composite Index closed at 10,998.30, up 57.23 points, or 0.52%.
- The Birling Capital Puerto Rico Stock Index closed at 1,522.66, up 13.03 points , or 0.86%.
- The US Treasury 10-year note closed down at 0.55%.
- The U.S. Treasury 2-year note closed flat at 0.11%.