Why Disney Shares Ripped Over 11% Higher This Week

Why Disney Shares Ripped Over 11% Higher This Week

Walt Disney Co DIS shares are trading higher by 11.46% to $120.61 for the week amid overall market strength and after the company reported better-than-expected third-quarter EPS and sales results.

Stocks across sectors are also trading higher Friday as stocks continue to rally following CPI and PPI data this week, which has alleviated inflation concerns. Lighter-than-expected inflation has also decreased expectations for highly-aggressive Federal Reserve policy.

What Happened?

The headline CPI rose 8.5% in July, down from 9.1% in June. June had marked the highest CPI inflation reading since November 1981. The July CPI reading also came in below economist estimates of 8.7%.

Core inflation, which excludes volatile food and energy prices, was up 5.9% in July, below economist estimates of a 6.1% gain... Read More

See Also: So Is Dogecoin Heading Back to 5 Cents Or Making A Run To 10 Cents? Survey Says...

According to data from Benzinga Pro, Disney has a 52-week high of $187.58 and a 52-week low of $90.23.

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