Communications services companies rose as traders rotated back into some of the most beaten-down stocks in the bear market, hopeful that inflation fears were becoming a thing of the past.
Meme stocks such as cinema chain AMC Entertainment added to recent gains after the Labor Department reported the sixth straight drop in consumer-price inflation.
Walt Disney rallied after activist investor Nelson Peltz said he would launch a proxy battle for board seats, and push for a change in strategy.
Warner Bros. Discovery raised the monthly price for the ad-free tier of its HBO Max streaming service by $1, or about 7%, a move that comes ahead of the expected merger of HBO with the company's other streaming service, Discovery+.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-12-23 1734ET
