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‘Harry Potter’ soars at Cosm with fantastical, theme-park-like effects

A pivotal moment early in “Harry Potter and the Sorcerer’s Stone” arrives when Harry’s suburban house is swarmed and flooded with letters of acceptance for the Hogwarts School of Witchcraft and Wizardry. Harry’s aunt and uncle have been preventing such dispatches from reaching the young wizard-to-be, but the boarding school’s messenger owls are having none of it.

Letters flood in from the fireplace, windows and nearly seem to cause the house to burst. And while watching the film recently at Inglewood’s Cosm, home to an all-encompassing high-definition spherical screen, I half expected a letter to fall upon my lap. Cosm specializes in sports, but has released three collaborations with Warner Bros. for what it deems “experiential film.” A framed screen displaying the original 2001 work from director Chris Columbus is untouched, but surrounding it are newly added digital animations designed to envelop guests.

And in this early “Sorcerer’s Stone” scene, letters were a-flying any which way I looked. Up, down, left and right — mail missives were rocketing toward the center screen. As the world closed in on Daniel Radcliffe’s Potter and family, it did so, too, at Cosm. I’ve seen Cosm’s take on “The Matrix” and “Willy Wonka and the Chocolate Factory,” so I knew a letter wouldn’t come zapping my way, but one could be forgiven for protecting their cocktail — themed, of course — from being knocked over.

The famed "sorting hat" scene at Cosm's interpretation of "Harry Potter and the Sorcerer's Stone."

The famed “sorting hat” scene at Cosm’s interpretation of “Harry Potter and the Sorcerer’s Stone.”

(Cosm)

Such is the power of Cosm’s curved screen, which brings a sense of dimension, and even at times movement, to the film. Think of Cosm, perhaps, as a mini version of Las Vegas’ Sphere, but smaller doesn’t mean any less sweeping. No, “Harry Potter and the Sorcerer’s Stone” in Cosm’s hands is often quite grand, as the first glimpse of Hogwarts Castle inspired cheers from the opening night audience, its cliffside towers, a romanticized spin on medieval architecture, towering above us in such a way that we will crane our necks. Only in Universal’s theme parks does the palace seem more real and welcoming.

“Harry Potter and the Sorcerer’s Stone” arrives at Cosm during what is a big year for the franchise. It’s the 25th anniversary, of course, of the first film in the series, and later this year on Christmas Day a new television series based on author J.K. Rowling’s popular book series is set to premiere on HBO Max. This summer, Harry Potter: A Hogwarts Express Adventure will open at the Southern California Railway Museum for guests to experience the Wizarding World rite of passage aboard a real moving train in the Inland Empire.

All of this activity is happening as Rowling has become the center of heated debate for her controversial views on trans women. None of it, however, has seemed to curtail fan interest in the series. The 2023 video game “Hogwarts Legacy” became a massive hit despite calls for a boycott, and Universal Studios last year opened in Florida a brand new theme park land based upon the franchise at its Epic Universe park, with its centerpiece ride, Harry Potter and the Battle at the Ministry, often commanding some of the longest waits at the park.

At the film’s early May premiere at Cosm, Rowling was mentioned little, and wasn’t among the massive list of names being thanked by studio and Cosm execs. “Harry Potter” in 2026 is perhaps best viewed as a franchise that has outgrown its creator to take on a life of its own, and Cosm’s approach is that of a love letter to its many fans, recognizing that this is a magical, enchanting world that generations have long wished to find themselves immersed in.

A climatic scene in "Harry Potter and the Sorcerer's Stone" is outfitted with additional effects at Cosm.

A climatic scene in “Harry Potter and the Sorcerer’s Stone” is outfitted with additional effects at Cosm.

(Cosm)

To that end, I’d rank “Harry Potter and the Sorcerer’s Stone” as the most successful of Cosm’s three cinematic interpretations. Certainly the subject matter plays a role, and while Cosm has been successful in matching the high-energy of “The Matrix” or the trippiness of “Willy Wonka,” here Cosm and its partners — experiential firm Little Cinema and effects house MakeMake — can simply luxuriate in atmosphere. The train to Hogwarts, for instance, is especially well done, seemingly stretched to infinity. The famed “sorting hat” scene, too, as Cosm’s wizards contrast the internal anxiety of being assigned a role with the external one of doing so in front of an audience, bringing to exaggerated life the cavernous Hogwarts assembly hall.

‘Harry Potter and the Sorcerer’s Stone’

Cosm works best when it’s able to use its venue to create the illusion of no longer being a spectator, when the space itself starts to feel like a living theater. Feel this, for instance, when Harry and pals traverse the moving staircase. The frame of the screen may move, creating a slight sense of disorientation as the stairs themselves shift. The portraits on the wall, whose characters occasionally come alive, start to envelop us. Cosm used some restraint here, keeping us guessing as to which framed pictures may seek to speak or nod our way.

If there’s any qualm in Cosm’s work it’s that at times there could be a tinge more self-control in order to let the film do its work. Stepping into the hidden magic nook of London’s Diagon Alley is a showcase moment in Columbus’ film, and at times it is in Cosm’s interpretation as well. Out on the street, the shops circle around us, further conveying the cramped nature of the neighborhood. It feels, more than ever, like a real-life space. Inside an intimate pub, however, filling out the scene with empty tables could distract from the hurried, nervous nature of the filmmaker’s original intent.

But we live in an immersive age. Art, increasingly, is maximized to encompass us, and Cosm understands this moment well. Once again, the venue has made the argument that cinema can feel like communal, live entertainment.

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S&P 500 and Nasdaq hit new all-time highs despite Iran war effects

The benchmark US equity indices surged to new territory entering price discovery, reflecting a market that appears to be looking past immediate geopolitical risks in favour of potential de-escalation and corporate strength.


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On Wednesday the S&P 500 closed 0.8% higher at 7,022 points, up on the day and surpassing its previous peak from January of this year.

The S&P 500 is now 11% higher since it bottomed on 30 March and after it first dropped 9% during last month.

The Nasdaq Composite also posted a record, rising 1.6% to over 24,000 points while the Dow Jones Industrial Average edged 0.15% lower and continues significantly below its all-time high.

The advance comes despite persistent headwinds.

Shipping through the Strait of Hormuz, a critical chokepoint for roughly one-fifth of the global oil supply, has been severely disrupted since late February following Iranian actions and a subsequent US naval blockade.

Traffic has dropped sharply, with Iran declaring the strait closed to vessels linked to the US, Israel and their allies.

The US Central Command also confirmed its blockade of Iranian ports took full effect earlier this week, stating that “ten vessels have now been turned around and ZERO ships have broken through since the start of the US blockade on Monday”.

Oil prices, while easing in the last two weeks, remain elevated.

At the time of writing, Brent crude stands at around $96.5 per barrel and WTI at $92.5, still well above pre-war levels and contributing to inflationary concerns.

The International Monetary Fund has responded by lowering its global growth outlook. In its latest World Economic Outlook, released on Monday, the IMF cut the 2026 forecast to 3.1% from 3.3% previously projected, citing energy price spikes and supply disruptions.

Headline inflation is now seen at 4.4% for the year, under a reference scenario assuming a short-lived conflict, with risks of even weaker growth and higher prices if tensions escalate and prolong.

The modest decline in energy prices followed reports that the two-week ceasefire is holding and that fresh talks between the US and Iran could resume soon.

US President Donald Trump also indicated that negotiations for lasting peace might restart by the end of the week.

Investors appear to be pricing in an eventual reopening of the Strait of Hormuz and a contained negative impact of the war in general.

Speaking to Euronews, Alan McIntosh, chief investment officer of Quilter Cheviot Europe, explained that “although the first round of talks led to no agreement, a likely extension of the ceasefire gives optimism that an early resolution can be reached”.

“Assuming a fairly swift end to hostilities and a resumption of oil shipments, the economic damage to global inflation and growth should be fairly limited,” he added.

Why US indices defy the odds

Analysts point to several factors behind the market resilience.

Hopes of a swift end to hostilities have encouraged risk-taking, while corporate America is showing strength. Bank executives highlighted a strong US consumer and a healthy pipeline for deals and initial public offerings.

Earnings expectations for the first quarter have been revised higher, with S&P 500 companies now forecast to report combined profits of over $605 billion (€513bn), up from earlier estimates.

Tech shares, particularly those linked to AI, provided additional support. The Nasdaq’s outsized gain reflected renewed enthusiasm for growth-oriented stocks even as broader economic projections softened.

McIntosh told Euronews that “the capital spending boost relating to AI shows no sign of slowing down so this continues to support US economic growth. We have just started the US quarterly results season and so far there is limited evidence of a negative impact from the current Middle East conflict”.

The indices also include defence companies that have all performed well with the war in the backdrop pushing governments, in particular the US, to increase military budgets.

History also offers context for the current rebound. In past US-involved wars, equity markets have frequently experienced short-term volatility followed by recovery and gains.

During the 2003 Iraq War, for example, the S&P 500 rose over 25% in the first full year after the invasion began.

The Gulf War of 1990-1991 saw an initial 11% decline in the index, but a strong relief rally followed the swift coalition victory, delivering positive returns in the subsequent year.

Similar patterns emerged in the Korean War and Vietnam War eras, where stocks posted solid long-term advances despite prolonged uncertainty.

Data compiled by the Royal Bank of Canada and other sources indicate that, across multiple conflicts, equities rose in the first year of hostilities around 60% of the time.

Markets have tended to focus on eventual outcomes rather than immediate shocks, rewarding resolution and economic adaptability. The latest record for the S&P 500 and the Nasdaq underscore this enduring pattern.

While risks remain if the Iran conflict worsens, investors are currently betting that diplomacy and corporate fundamentals will prevail.

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