Shares of several companies in the broader communication services sector, including Walt Disney Co (NYSE:DIS), are trading higher as stocks rebound following a steep selloff over the past month, which was driven by concerns of Fed policy tightening going into 2022.
The broader market has been pressured during the month of January amid a rise in Treasury yields, which has pressured company valuations. The 10-year Treasury yield reached a 2-year high of around 1.8% during the month of January.
Traders and investors will also be watching for Disney's first-quarter earnings results, which will take place Wednesday, February 9th after market close.
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Disney is trading higher by 2.6% at $142.23. Disney has a 52-week high of $203.02 and a 52-week low of $129.26.
