.jpg)
Check back for updates throughout the trading day
U.S. stock futures rose on Tuesday, with technology stocks leading early advances, as investors looked to recover from the Nasdaq’s biggest one-day drop in more than two months.
Updated at 8:00 AM EST
The spirit of Boeing
Boeing (Bachelor’s) Shares continued their monthly decline in early trading, falling another 1.3% on the back of a Bloomberg report suggesting the planemaker is looking to buy fuselage supplier, Spirit Aerosystems. (SPR) About 4 billion dollars.
Reports have linked Boeing to Spirit for much of the past four months, as the troubled planemaker looks to shore up supply chain and quality issues in the wake of the 737 MAX door accident in January, but any deal could be delayed by EU objections that it would impact. Deliveries on state-subsidized Airbus aircraft.
$ Bachelor’s degree -1.17%, $SPR -3.45% [Boeing has offered to acquire Spirit AeroSystems in a deal funded mostly by stock that values its 737 fuselage supplier at about $35 per share — Bloomberg] https://t.co/qPWSeKa8rb
– Not loading (@thudderwicks) June 25, 2024
Stock market today
Stocks finished lower on Monday, with Nvidia stock up (NVDA) Extending a three-day decline to about 13%, as investors booked profits on high-flying chip stocks heading into the final days of a strong second quarter.
Meanwhile, the Dow Jones Industrial Average finished 260 points higher, to its highest level in a month, as investors turned into industrial and financial names and exited some of the larger technology and chip stocks.
Much of this interaction is likely to be repeated over the coming days, as portfolios are prepared at the end of the quarter to better reflect performance over the past three months.
Investors also continue to focus on Friday’s headline inflation reading to close out the week.
Related: Nvidia stock decline has markets bracing for S&P 500 correction
The focus of trading Tuesday will likely be on Nvidia, which has lost more than $430 billion in value over the past three trading sessions, to determine whether its recent correction will have broader implications for the current record rally.
Stock struggle
In the bond market, investors will look forward to the results of a $69 billion auction of new two-year bonds later in the session, as well as another slate of Fed speakers including Governor Lisa Cook.
Benchmark 10-year bond yields were last little changed at 4.226% with the two-year bond pegged at 4.738%.
The US dollar index, which tracks the greenback against a basket of six global currencies, was up 0.02% at 105.497 as the yen continues to test the 160 mark in overnight currency trading.
On Wall Street, S&P 500 futures point to an opening gain of about 13 points, with the Nasdaq up 95 points, thanks in part to early gains in Nvidia and Micron Technology. (in) hail (Camel) .
Related: Analysts reconsider Micron stock price targets ahead of third-quarter earnings
Nvidia shares were last up 3% in pre-market trading to indicate an opening bell price of $121.75.
Meanwhile, the Dow Jones is poised to decline by 20 points. Microsoft (MSFT) It fell 0.32% after European regulators said the tech giant was violating antitrust rules by packaging its Teams app with its Office software.
More economic analysis:
- The record rally for stocks may be in vapors
- Consumers are taking advantage amid sticky inflation and a slowing labor market
- Fed rate cut timing changes after retail sales data
In Europe, stocks fell after a sell-off on Wall Street last night, with the Stoxx 600 down 0.32% and Britain’s FTSE 100 down 0.18% in early trading in London.
Overnight in Asia, follow-up from Wall Street pushed the MSCI ex-Japan regional index down 0.4% at the end of trading, while a weaker yen gave further support to the Nikkei, which closed 0.95% higher in Tokyo.
RELATED: Veteran Fund Manager Picks Favorite Stocks for 2024
