: The Oscars delivers promising night for diversity as industry tries to look beyond COVID-19

A.M.P.A.S. via Getty Images“Nomadland” won Oscars for best picture and best actress (Frances McDormand), while its director, Chloé Zhao, became the first woman of color, and the second woman ever, to win best director in the history of the Academy Awards.In all, 15 women won 17 Oscars. Youn Yuh-jung became the first Korean to win an acting Oscar, as best supporting actress in family drama “Minari.” Daniel Kaluuya won best supporting actor for his role in “Judas and the Black Messiah.”The 93rd Academy Awards ceremony was subdued, after being delayed because of the pandemic and reformatted to abide by social-distancing rules. It served as an opportunity for industry professionals to express their hopes for a turnaround once movie theaters reopen.Streaming giant Netflix NFLX, which had two contenders in competition for best picfture, failed again to garner the top prize but won seven lesser awards — the most among all studios — including best documentary for “My Octopus Teacher.”The outlook: McDormand begged viewers to watch films “on the largest screen possible,” but the massive irruption of streaming throughout the pandemic has upended the movie business, and the industry is still trying to cope with the consequences.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.