Disney Drives Market Surge as Dow Jumps Over 500 Points

The US stock market saw a significant boost on Wednesday as the Dow Jones index surged over 500 points. The Dow traded up 0.94% to 54,592.81, while the NASDAQ rose 0.45% to 26,705.30, and the S&P 500 gained 0.68% to 7,788.79.

The health care sector led the charge with shares jumping by 1.5%, but utilities stocks fell by 0.9%. The market's gains can be attributed in part to Walt Disney Co.'s (NYSE:DIS) impressive fiscal third-quarter earnings report.

Disney's adjusted earnings increased to $2.06 per share, beating the analyst consensus estimate of $1.86. Revenue rose 7% year over year to $25.25 billion but came in slightly below analysts' expectations of $25.40 billion.