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Dow Jones Futures Fall As Boeing Dives On Groundings; Coinbase Rallies On Price Target Hike

·2 mins


Dow Jones Futures Drop Amid Boeing Grounding and Coinbase Rally #

Dow Jones futures dropped 170 points on Monday morning due to the grounding of Boeing’s 737 Max 9 jets, causing a plunge in Boeing shares. Meanwhile, cryptocurrency exchange Coinbase rallied after a price-target hike.

Dow Jones futures lost 0.5% vs. fair value, S&P 500 futures were down 0.1%, and Nasdaq 100 futures were flat to down in premarket action.

Among U.S. exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust was up less than 0.1%, while the SPDR S&P 500 ETF fell 0.1%.

The 10-year Treasury yield rose to 4.06% Monday, and oil prices fell after recent gains.

Boeing saw a more than 7% plunge after the Federal Aviation Administration ordered the temporary grounding of the 737 Max 9 jet due to a mid-flight incident.

Crypto stock Coinbase rallied 2.6% premarket after a price target increase.

This week’s economic data includes two inflation reports, while banks begin their fourth-quarter reporting season on Friday.

Major indexes saw a nine-week win streak come to an end on Friday, with the Nasdaq composite still slightly below the 21-day exponential moving average.

Best Stocks To Buy And Watch

  • Amgen, Caterpillar, Visa, Alphabet, Netflix, Novo Nordisk, and Snowflake are among the stocks of interest.

Magnificent Seven Stocks: Nvidia and Tesla

  • Nvidia and Tesla traded mixed on Monday morning. Nvidia is still above its double-bottom base’s entry, while Tesla is holding above the 50-day line.

Dow Jones Leaders: Apple and Microsoft

  • Apple and Microsoft traded higher before Monday’s stock market open. Apple is testing its 200-day line, and Microsoft is still above its cup-base buy point.