Stocks rose on Thursday, building on a strong June rally, lifted by gains in Disney and energy shares.
The Dow Jones Industrial Average climbed 15 points as Disney shares outperformed. The S&P 500 gained 0.1%, led by the energy and tech sectors. The Nasdaq Composite advanced 0.3%.
Disney shares contributed to the gains, rising more than 2% after an analyst at Morgan Stanley raised his price target on the stock to $160 per share from $135. The analyst cited the company’s new streaming service, noting it could give its global subscriber numbers a boost.
The Energy Select Sector SPDR Fund (XLE) jumped more than 1% as oil prices surged. Hess and Phillips 66 were the best performers within the fund, rising more than 2.7% each.
The major indexes posted small losses in each of the previous two sessions as a rally to start off June took a pause. The major indexes were all up more than 4% for the month, however, after notching sharp losses in May.