Stock Market Update

[BRIEFING.COM] The Nasdaq Composite (-0.8%) and S&P 500 (-0.3%) have rebounded slightly from early session lows, while the DJIA (+0.7%) continues to outperform. 

Walt Disney (DIS 110.53, +1.70, +1.56%) is one of the names pushing the DJIA higher after news that the company reached an agreement with OpenAI to bring characters from across Disney's brands to OpenAI's short-form generative AI video platform, Sora. 

Alongside the licensing agreement, Disney will become a major customer of OpenAI, using its APIs to build new products, tools, and experiences, including for Disney+, and deploying ChatGPT for its employees. As part of the agreement, Disney will make a $1 billion equity investment in OpenAI and receive warrants to purchase additional equity.