Why Disney Shares Are Rising Today

Shares of several companies in the entertainment sector, including The Walt Disney Co DIS, are trading higher amid an overall market rebound as stocks rise following Monday's weakness.

Stocks traded lower Monday amid increasing COVID-19 omicron variant uncertainty.

The COVID-19 omicron variant has now been detected in at least 45 U.S. states and nearly 80% of ICU beds are full across the country.

The U.S. is now reportedly averaging about 130,000 new COVID-19 cases each day, representing about a 10% increase compared to last week.

Health officials have warned that the surge in COVID-19 cases could continue as people begin traveling for the holidays due to the omicron variant's heightened transmissibility.

U.S. President Joe Biden called on all Americans to get vaccinated during a White House speech Tuesday.

"All these people who have not been vaccinated, you have an obligation to yourselves, to your family and quite frankly ... to your country," Biden said.

See Also: Why Micron Shares Are Rising Today

Disney makes live-action and animated films under studios such as Pixar, Marvel, and Lucasfilm and also operates media networks including ESPN and several TV production studios.

DIS Price Action: Disney has traded as high as $203.02 and as low as $142.04 over a 52-week period.

The stock was up 2.90% at $150.72 at time of publication.

Photo: StockSnap from Pixabay.