Walt Disney Co (NYSE:DIS) shares are trading lower by 1.55% to $89.90 Tuesday morning. The stock may be trading lower in sympathy with the broader market as investor's continue to weigh last Wednesday's Fed decision. The Fed paused rate hikes but indicated it sees two more 25-bps hikes this year.
Also, Federal Reserve Chair Jerome Powell is slated to provide testimony before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday, representing his initial congressional appearance since March.
These highly anticipated hearings will afford lawmakers the chance to directly inquire about the Federal Reserve's recent actions and policy determinations...Read More
What Else?
Interest rates play a role in consumer borrowing costs, including mortgages and personal loans. If rates remain low or rise gradually, it can support consumer spending, including on entertainment and leisure activities offered by Disney.
Lower borrowing costs may encourage consumers to invest in vacations, theme park visits, streaming subscriptions and merchandise, benefiting Disney's revenue streams.
According to data from Benzinga Pro, Disney has a 52-week high of $126.48 and a 52-week low of $84.07.
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