Stocks Rise After Obama Tones Down Syria Talk
Stocks are moving toward another day of gains today after President Obama indicated a willingness to reach a negotiated solution on the Syria conflict. A potential conflict in Syria has had stocks on edge for the past two weeks and, as tensions die down, the market is moving slowly higher. As of 3:15 p.m. EDT, the Dow Jones Industrial Average has risen 0.69%, while the S&P 500 is up 0.18%.
One of the big gainers today is Disney , which is up 1.4%. The only news today was that the next installment of Pirates of the Caribbean will be pushed back from its summer 2015 slate, presumably for one year. Pirates is a highly valuable franchise to Disney, and the company needs some box office hits after the bomb of The Lone Ranger; but they may be on the way even without a Pirates sequel. Now that Disney owns Pixar, Marvel, and Lucasfilm, it has a stable of new movies already set for 2015, including Pixar's Inside Out, a Marvel's Avengers sequel, and the next Star Wars installment. This is just a reminder of what a media powerhouse Disney has become, and those films will continue to drive content and theme-park revenue for years to come.
Intel was down 0.7% today, but it may have made the biggest splash on the Dow. The chipmaker and Google announced that the latest Chromebooks portable computer will be run on Intel's Haswell processor. Toshiba and Asustek will also introduce Chrome-based computers using the chips, and HP and Acer are reportedly working on Intel-Chrome computers, as well. These are huge wins considering the fact that Intel needs to expand in mobile, and Google is the leader in that space.
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The article Stocks Rise After Obama Tones Down Syria Talk originally appeared on Fool.com.Fool contributor Travis Hoium manages an account that owns shares of Intel. The Motley Fool recommends Google, Intel, and Walt Disney. The Motley Fool owns shares of Google, Intel, and Walt Disney. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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