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News
Tuesday, February 03, 2026
What’s happening: Shares of Walt Disney fell on Monday after the company released its results for the fiscal first quarter.
What happened: The media and entertainment giant reported better-than-expected sales and earnings for the latest quarter.
CEO Bob Iger said that the company is in much better shape now than it was three years ago.
How were the results: The Burbank, California-based company reported single-digit sales growth for the first quarter of fiscal 2026.
Why it matters: Disney managed to beat market estimates for the latest quarter on the back of a strong performance by its parks, resorts, and cruises. CFO Hugh Johnston highlighted that the Experiences segment surpassed $10 billion in quarterly revenues for the first time.
Revenues from US domestic theme parks surged 7% year-over-year to $6.91 billion, while revenues from international parks also climbed 7% to $1.75 billion. However, Walt Disney said international visitors to US theme parks fell during the quarter.
Although revenues from the Entertainment division grew by 7% year-over-year to $11.61 billion in the quarter, its operating profits contracted by 35% due to higher marketing costs.
“We delivered strong box office performance in calendar year 2025 with billion-dollar hits like Zootopia 2 and Avatar: Fire and Ash, franchises that generate value across many of our businesses,” Iger said.
Disney’s quarterly operating cash flows declined by 77% year-over-year to $735 million.
The company’s board is looking to name a successor to CEO Bob Iger and is expected to announce a new leader this quarter.
The company reiterated that it expects double-digit growth in operating income at its Entertainment segment in fiscal 2026, although growth is likely to be back-end loaded. Management also projected low single-digit growth in the Sports division’s operating income and high single-digit growth in operating income at its Experiences division.
How shares responded: Disney’s shares tumbled 7.4% to close at $104.45 on Monday, following the release of quarterly results. The stock has lost more than 12% over the past six months.
What to watch: Investors will continue monitoring the number of international visitors to Disney’s US theme parks, which weighed on the stock on Monday and is expected to impact overall results ahead.
Context: The AUD/USD forex pair rose this morning amid weakness in the US dollar.
Details: Data released this morning showed private house approvals in Australia grew by 0.4% to 9,487 units in December, following a 0.8% rise in November. Despite some easing in pace, the latest reading signalled growth for the second straight month, pointing towards some resilience in housing demand.
Australia’s building permits dipped 14.9% to a four-month low of 15,542 units in December, compared to 13.1% growth in the previous month.
Data released on Monday showed S&P Global Australia manufacturing PMI was revised downward to 52.3 in January from a preliminary reading of 52.4. The figure was still higher than the final reading of 51.6 in the previous month.
Australia’s monthly inflation gauge, compiled by the Melbourne Institute, grew by 0.2% in January, slowing sharply from the two-year high level of 1% in December.
Weakness in the US dollar also lent support to the AUD/USD forex pair. The US dollar index, which measures the greenback’s performance versus a basket of major peers, fell more than 0.1% to 97.52 this morning.
The AUD/USD pair gained around 0.2% to 0.6960 this morning, while the S&P/ASX 200 surged 1.06% to trade at 8,871.50.
What to watch: Investors await the release of economic data on Ai Group manufacturing index (1400 UAE Time), S&P Global composite PMI (1400 UAE Time) and S&P Global services PMI (1400 UAE Time) from Australia on Wednesday.
The Ai Group Industry Index for Australia’s manufacturing sector, which rose to -18 in November from -22 in the previous month, is expected to improve slightly to -17 in December. Analysts expect the S&P Global composite PMI to surge to 55.5 in January from 51.0 in the previous month, while the services PMI is projected to grow to 53.4 in January from 51.6 in December.
Other Markets: US trading indices closed higher on Monday, with the Dow Jones index, S&P 500 and Nasdaq 100 up by 1.05%, 0.54% and 0.73%, respectively.
A new round of US-brokered talks on ending the ongoing Russia-Ukraine war is scheduled to resume in Abu Dhabi this week. The news sent the USD/RUB pair higher in forex trading this morning.
Ireland’s AIB manufacturing PMI came in unchanged at 52.2 in January. This being the 13th month of expansion lent support to the EUR/USD forex pair.
South Korea’s annual inflation rate slowed to 2% in January from 2.3% in the previous month. Inflation falling to the lowest level since August 2025 sent the USD/KRW pair lower in forex trading this morning.
The US government announced plans to drop the additional 25% tariff imposed on imports from India due to purchases of Russian crude oil, while also cutting country-specific tariffs from 25% to 18%. The news exerted pressure on the USD/INR forex pair.
New Zealand’s building consents for new dwellings declined 4.6% in December, versus a 2.7% gain in November. However, the NZD/USD pair rose in forex trading this morning.
Spain’s unemployment change (1200 UAE Time) and tourist arrivals (1200 UAE Time), US LMI Logistics Managers Index (1500 UAE Time), Redbook index (1755 UAE Time) and RCM/TIPP economic optimism index (1910 UAE Time), Brazil’s Copom meeting minutes (15000 UAE Time) and industrial production (1600 UAE Time) as well as Mexico’s business confidence (1600 UAE Time) and S&P Global manufacturing PMI (1900 UAE Time).
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