Also during the session, the Supreme Court ruled that the government couldn’t ban the sale of violet video game to minors, as the action could violate free-speech rights. Take-Two Interactive (NASDAQ:TTWO), the publisher and developer of video games like Grand Theft Auto, jumped 2.3% to $15.14 on the news.
Consumer discretionary stocks were seeing strength despite the stagnation on consumer spending on the back of lower crude oil prices, which should be bullish for the consumer going forward. In the sector, Walt Disney (NYSE:DIS), the world’s largest Media Company, jumped 1.3% to $38.07 despite Nomura trimming its price target on the stock to $45 from $47, as its Pixar unit sequel Cars 2 sped to a $68 million opening weekend, which is ahead of its original estimates of $60 million. Pixar’s Cars 2 adds new characters to the blockbuster franchise, which has sold an estimated $10 billion worth of merchandise since the original Cars debuted in 2006.
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