Disney is raising the prices at its California and Florida theme parks amid its recent $60 billion investment.
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00:00 I'm JD Durkin reporting from the New York Stock Exchange.
00:02 Stocks were in the green to close out today's session.
00:04 The Dow closing up 65 points, the Nasdaq up 0.7%, and the S&P 500 closed 0.4% higher.
00:12 Wall Street is continuing to digest a hotter than expected inflation report, which saw
00:16 wholesale prices jump for the third straight month.
00:19 September's gain was likely driven by a surge in energy and food prices.
00:24 Investors are also looking ahead to another key report on inflation, which we will get
00:28 tomorrow.
00:29 The Federal Consumer Price Index, which measures the change in consumer prices on a monthly
00:32 basis, is due out Thursday morning.
00:34 And the report will give analysts a better idea of the Federal Reserve's next move on
00:39 interest rates.
00:40 Meanwhile, not even the happiest place on earth is immune to inflation.
00:45 That's right, if you have a trip planned to Disney World or Disneyland any time soon,
00:49 safe to say you can expect to see your visit be a little bit more expensive.
00:53 Disney is raising the price of daily admission to its California theme park by more than
00:57 8% to $194 and by 16% to $480 for a five-day pass.
01:05 At its larger Florida theme park, the cost of an annual pass is going up by around $50.
01:11 Parking at both theme parks will also see higher prices.
01:15 These price hikes from the house of mouse come as the company continues to invest heavily
01:18 in its park business.
01:20 The media and entertainment giant recently announced that it would be pouring $60 billion
01:25 into its parks, doubling its previous investment.
01:28 Disney is going all in on parks as the company struggles with its broader shift to streaming.
01:33 That will do it for your daily briefing.
01:35 From the floor of the New York Stock Exchange, I'm J.D. Durkin with The Street.
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