Jobless claims distracted the market from the Federal Reserve speakers as weekly claims topped 196,000, beating expectations of 190,000.
On the earnings front, Disney posted its quarterly results last night and the stock soared after hours as CEO Bob Iger announced job cuts and restructuring. Iger said that the House of Mouse has planned for $5.5 billion in cost cuts, and will focus on a new organizational structure that includes Parks, Entertainment, and ESPN.
"We must also return creativity to the center of the company, increase accountability, improve results, and ensure the quality of our content and experiences," Iger told investors on a conference call late Wednesday. "Our company is fueled by storytelling and creativity. And virtually every dollar we earn, every transaction, every interaction with our consumers emanates from something creative."
The numbers came in ahead of analyst expectations as well.
"Disney said adjusted diluted earnings for the three months ending in December, the group's fiscal first quarter, came in at 99 cents per share -- well ahead of the Street forecast of 78 cents per share -- as revenues rose 7.7% to $23.51 billion," TheStreet's Martin Baccardax wrote.
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