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Shares rise after Boeing order boosts Dow Jones index

Shares rise after Boeing order boosts Dow Jones index
Shares rise after Boeing order boosts Dow Jones index
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Shares rise after Boeing order boosts Dow Jones index

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Shares rise after Boeing order boosts Dow Jones index

US stock futures showed gains on Monday

As major indices hit record highs after Boeing's gains boosted the Dow Jones index, US stock futures rose early in the week.

Dow Jones Industrial Average futures were up 104 points, or 0.29%, while S&P 500 and Nasdaq 100 futures were up 0.22% and 0.23% respectively. All three major averages closed within 1% of their record highs on Friday as investors ignored the highest inflation figures in more than 30 years.

In the stock, component company Dow Boeing Co. received an order from Emirates for two 777 Freighter aircraft worth more than $704 million at list prices. The aircraft is expected to be delivered in April-June 2022.

Tesla Inc. shares continued to fall after CEO Elon Musk clashed with Senator Bernie Sanders, the vice president of Washington state, in a Twitter controversy over taxes. Shares fell 15.4% last week after Musk sold $6.9bn worth of shares for tax purposes.

Royal Dutch Shell will liquidate its two-share structure and move its tax residency to the UK. The company will also remove "Royal Dutch" from its name.

Activist investor Mantle Ridge has disclosed a $1.8bn stake in Dollar Tree Inc. and will take steps to boost the company's share price. Crowdstrike Holdings Inc. was initiated by Morgan Stanley in Underweight and was given a target price of $247 per share because of valuation issues.

On earnings, Tyson Foods Inc. is forecasting 2022 sales above Wall Street estimates due to rising meat prices and increased demand from restaurants. Quarterly earnings and revenue came in better than expected.

WeWork Inc. said its quarterly loss declined from a year ago amid a rebound in demand for office space caused by the lifting of COVID-19 restrictions. It was the company's first quarterly report since going public last month.

Walmart Inc., Target Corp., Home Depot Inc. and Macy's Inc. are among the retailers expected to report their quarterly results later this week.

On the commodities side, West Texas Intermediate crude fell $1.09 to $79.70 a barrel and gold fell $2.30 to $1,866.20 an ounce.

Foreign markets traded mostly higher.

Persons2 and Companies15 in the news

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