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Disney Decidedly Not Frozen

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Once again, we start out the session in an indecisive manner. While there was no visible reason for stocks to be higher out of the gate yesterday, but they were… there's no real reason stocks should begin today's session lower, but they will.


On the earnings front, Disney (DIS) does it again, proving there's magic in the right consumer brands. In fact, the only blemish is ESPN which had kept the stock buoyant for a couple rough years of movie duds. Now, the cost of carrying big-time sporting events is hurting profitability. Still, content can be king when it's in demand and the company is firing on all cylinders.

Crude oil at $60 seemed so farfetched just weeks after predictions of $30s, $20s and even the West Texas Intermediate (WTI) dipping into the teens. There are several factors, including the weaker dollar and less production, and maybe hidden in there are improvements on demand based on the economy. North of $60, we could soon hear predictions of $70+ which would make going to Disney theme parks a lot tougher.

The bottom line is, the market has entered into that period of angst always associated with “Jobs Friday” weeks.

Overall, I feel pretty good about the market, and even in this period of sideways movement. Sellers have had plenty of sessions to be shaken out, so it feels like most holders are strong hands, but sideline money is seeking a catalyst.

Below are some of the notable companies that reported earnings Tuesday morning.

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