Market Update: Peltz vs. DIS, Oil, Airlines, Banks, Crypto| Jan 13

By Kirsteen Mackay


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In today's market update, we look at the morning headlines, including Nelson Peltz vs. Disney, oil, airlines, big bank earnings, and Bitcoin gains.

Market Update: Peltz vs. DIS, Oil, Airlines, Banks, Crypto| Jan 13

Thursday afternoon trading saw stocks finish on a high note, with the Dow, S&P 500, NASDAQ, and Russell 2000 all seeing gains. The Dow was up 0.64%, the S&P 500 increased by 0.34%, and the NASDAQ rose 0.64%. The Russell 2000 saw the strongest gains, finishing the day up 1.74%.

Corporate Update

In corporate news, Nelson Peltz and his company, Trian Partners, announced plans for a proxy fight for a board seat at Disney (NYSE: DIS). The move comes after Disney rejected Peltz's concerns about the company's recent share price, operating performance, M&A strategy, and corporate governance issues.

The energy sector was a standout performer, with crude oil continuing to gain momentum. Airlines also saw positive results, with American Airlines (NASDAQ: AAL) reporting an increase in Q4 revenue and guidance. Entertainment stocks, particularly Disney and Netflix (NASDAQ: NFLX), also saw gains. Bed Bath & Beyond (NYSE: BBBY) also continued to rally.

Today, big banks will kick off the Q4 earnings season, with Bank of America, Citi, JPMorgan, and Wells Fargo reporting their numbers. Read our Reasons to Watch Bank Earnings in 2023.


In the world of crypto, Bitcoin saw a 7.2% increase yesterday and is currently trading at around $18,830. This marks the highest point for Bitcoin since November when the FTX exchange began to unravel. The crypto market appears to be following the trend in tech stocks, with a risk-on tone potentially attracting bargain hunters to the currently battered market.

Dig a little deeper into the market update:

Disney faces proxy fight as Peltz pushes to join the board

American Airlines boosts outlook after the busy holiday season

EXPLAINER: List of states banning TikTok grows

Big Tech's drop means more balance for S&P 500, 401(k)s

Taiwan chipmaker TSMC says quarterly profit up 78%

Companies reporting earnings today include UnitedHealth Group Inc (NYSE: UNH), JPMorgan Chase & Co. (NYSE: JPM), Bank of America Corp. (NYSE: BAC), Delta Air Lines, Inc. (NYSE: DAL), Wells Fargo & Co. (NYSE: WFC), Citigroup, Inc. (NYSE: C), BlackRock, Inc. (NYSE: BLK), The Bank of New York Mellon Corp. (NYSE: BK), and First Republic Bank (NYSE: FRC). Check out this week's earnings preview.

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If you enjoyed this market update, why not check out our latest analysis?


In this article:

Author: Kirsteen Mackay

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Kirsteen Mackay does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.

Kirsteen Mackay has not been paid to produce this piece by the company or companies mentioned above.

Digitonic Ltd, the owner of, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of, has not been paid for the production of this piece by the company or companies mentioned above.

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