The Dow Jones Industrial Average climbed 101.94 points to 26,106.77 as Disney shares outperformed. The S&P 500 gained 0.4% to close at 2,891.64, led by the energy sector. The Nasdaq Composite advanced0.6% to 7,837.13.
Disney shares contributed to the gains, rising 4.4% after an analyst at Morgan Stanley raised his price target on the stock to $160 per share from $135. The analyst cited the company’s new streaming service, noting it could give its global subscriber numbers a boost.
The Energy Select Sector SPDR Fund (XLE) jumped 1.2% as oil prices surged. Hess and Phillips 66 were among the best performers within the fund, rising more than 2% each.
· European stocks rebounded Thursday as Germany’s 5G auction drove the telecoms index higher, while a tanker incident caused oil prices to surge.
The pan-European Stoxx 600 recovered from a 0.2% fall after the opening bell to climb 0.1% during the afternoon session. Basic Resources led gains with a 1.6% rise, while media stocks traded down around0.7%.
· Shares in Asia Pacific traded lower on Friday morning, as oil prices spiked following attacks on two tanker ships in the Gulf of Oman on Thursday.
Both the Nikkei 225 and Topix slipped 0.13% each in early trade, while South Korea’s Kospi declined 0.23%.
Reference: CNBC
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