The media and entertainment giant, Disney stocks, stretched its winning ways in two days as it surged sharply on Wednesday trading and helped the Dow Jones industrial average in its quest to reach the historic 20000 mark.
Renewed Strength
The Disney stocks first managed to regain its buy point status in the first day of trading of 2017, having finally reached its 106.36 level after weeks of close calls and false starts.
On the same day, Tuesday, Disney held modest gains to kick off the year with a strong performance after tallying a 1.3% jump at 107.44 in a slightly-below average volume. The surge was accounted to the box-office hit of its recent installment, the "Rogue One: A Star Wars Story", which has now touched the $800 million cinema sales worldwide, with the movie has yet to open in China where fans are expected to mob cinemas for their start, Jiang Wen and Donnie Yen.
Disney stocks carried its momentum into Wednesday session and closed up 1.22% at 107.37, marking a two-day win streak for the company, and a big boost to the DJIA index, which is marching towards the never-before-reached 20000 level.
Of the 30 stocks listed in the Dow index, 16 finished off higher on Wednesday and Disney stocks, together with the Nike shares, were the biggest contributor to the blue chip benchmark as it added 60.40 points, or 0.3% at 19 942.16, just 58 points shy of the psychologically significant 20k mark.