Despite risk aversion looming over yesterday’s trading, the Dow still managed to reach new record highs. The index reached 27,806.80 before it closed with a gain of 92.10 points at 27,783.59, up 0.33% from where it opened.
The lack of clarity surrounding the US-China trade deal continued to make investors jittery. There were comments from White House chief economic adviser Larry Kudlow on Tuesday that they still did not have a deal with China. This may have caused the Dow to open lower at 27,619.70 from Tuesday’s close.
Disney To Save The Day
However, shares of mass media and entertainment conglomerate, Disney, rallied mid-day and helped push the Dow to new highs. The stock hit also hit historic highs when it soared 7.3% to 148.72. This came at the wake of their announcement that Disney+ has already over 10 million subscribers. The company’s streaming platform was only launched a day before on November 12.