Netflix (NFLX) rose to all-new highs Wednesday after a shout out in Disney’s (DIS) conference call. Disney CEO Bob Iger said he sees Netflix as ‘more friend than foe’ as Disney feeds content onto the streaming platform. Disney was the biggest drag on the Dow after missing sales estimates in its recent quarter. The world’s largest entertainment company suffered partly due to a stronger dollar and weaker euro, which ate into Disneyland Paris revenue. The S&P 500 and Nasdaq managed to close the day with gains, but only a fraction what were seen at session highs. Oil undermined investor confidence after slipping to four-month lows as fears over a global surplus resurfaced.
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