Disney is Reopening, Chevron is Changing Form and More – Financial News Summary for Monday, February 8, 2021

The Happiest Place on Earth Might Be Making a Comeback
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The stock market has been riding a high lately and it seems set to continue. As the week starts, all three major markets are still reporting gains. The Dow Jones rose 0.76% to close at 31,385.76. The NASDAQ closed up 0.95% to finish at 13,987.64 and the S&P 500 closed up 0.74% to finish at 3,915.59. STOXX Europe also saw an increase today of 0.30% to close at 410.78.

 

After almost a year, Disney is finally set to reopen California Adventure, bringing back approximately 1,000 of their employees to aid in the limited reopening. A limited number of guests will be able to attend a special celebration to honor the 20th anniversary of the park, but not by enjoying everything that the park has to offer. Rather, they will only be able to engage in what are being called ‘carefully crafted entertainment experiences’ to go along with food and beverages and of course plenty of souvenirs.

“With limited capacity and enhanced health and safety measures in place, Guests once again will get to step into a magical Disney environment — an environment that will provide memorable and fun experiences our guests are craving,” Potrock said.

 

Chevron is well-known for their empire of $170 billion, built on fossil fuels over the past 141 years. But there are some questions to be asked as the world as a whole starts to look toward more eco-friendly options. In fact, Chevron is only one of many companies that have been forced to reconsider their stance and their offerings amid the current climate crisis. The company is now pointing to a new outlook, though they have yet to reveal just what that outlook might be. Or how they may manage it.

“Oil and gas will still be a very big part. Will it be the biggest part? Time will tell,” CEO Michael Wirth stated. “Twenty years forward there are things we are not doing today at any scale that no doubt we will be doing at a very large scale.”

 

Oil prices still rose slightly today, by 0.12%, even with the Chevron announcement looming. This allowed oil to close at $58.04 per barrel. Gold prices rose also today, climbing 0.93% to close at $1,830.99 per ounce. The treasury yield, however, reported a mixed day. The 10 year yield held firm from Friday, with a closing of 1.19. However the 30 year yield fell slightly to 1.96.

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