NEW YORK: Wall Street stocks edged higher early Tuesday, with investors weighing mixed Disney results and mulling over future US monetary policy.
Disney sank 8.4 percent after reporting a small loss related mainly to the write-down of a business in India. The entertainment giant reported a better performance in its Disney+ streaming business, with subscriptions on the rise.
The results were a focal point in a light week in terms of scheduled economic reports.
About 25 minutes into trading, the Dow Jones Industrial Average was up 0.3 percent at 38,951.38.
Wall Street climbs on renewed hopes of rate cuts
The broad-based S&P 500 added 0.2 percent at 5,189.56, while the tech-rich Nasdaq Composite Index was flat at 16,349.77.
Wall Street stocks have risen the last three days, with analysts pointing to the improved prospects for Federal Reserve interest rate cuts.
Last week, Fed Chair Jerome Powell said inflation was still too high, but that he does not expect further interest rate increases.
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