U.S. stocks traded mostly higher on Tuesday, Dec. 5, as investors focused on recent weakness in the tech sector and drove the Nasdaq to the upside. The Dow Jones Industrial Average, however, turned lower in midday trading.
The Dow Jones Industrial Average fell 36 points, or 0.15%. Earlier in the session it traded above its closing record high of 24,290. The Dow had seen recent strength as the GOP's tax-overhaul efforts remained a key story.
Walt Disney Co. (DIS) - Get Report was the biggest laggard on the Dow, trading down 2.5%, after CNBC reported that the media group was getting close to a deal that would see it purchase some of the assets of Twenty-First Century Fox Inc. (FOXA) - Get Report .
McDonald's Corp. (MCD) - Get Report was one of the Dow's leading advancers, rising 1.6%, after analysts from Jefferies boosted their price target on the world's biggest restaurant group to $200 from $150.
Snap Inc. (SNAP) - Get Report shares, which were a were a notable early mover in premarket trading, gained 9.6% after two investment banks lifted their recommendations on the social media app as it goes head-to-head with Facebook Inc. (FB) - Get Report in the youth messaging market.
Facebook rose 1.5%.
AT&T Inc. (T) - Get Report announced that its DirectTV Now over-the-top streaming service has surpassed 1 million subscribers about a year after the service was launched in order to combat the growing tide of cord-cutters leaving traditional pay-TV plans. The stock fell 1% as telecom shares lagged on Tuesday.
Regal Entertainment (RGC) shares were up nearly 10% Tuesday after the company was purchased by U.K. theater company Cineworld Group for $3.6 billion. Cineworld will also assume the company's debt, bringing the total value of the deal to nearly $6 billion.
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