- Major U.S. stock indexes were higher in early-afternoon trading Wednesday, adding to the previous session’s big gains, as investors await key economic data and earnings releases in the coming days.
- Boeing shares fell Wednesday after the plane maker withdrew its contract offer for its striking machinists and S&P Global put its bond rating on a watch list.
- U.S.-traded Chinese stocks tumbled on Tuesday and fell again in early trading Wednesday after a disappointing update from the government tempered exuberance that propelled Chinese equities out of a bear market in recent weeks.
The major U.S. stock indexes moved higher in early afternoon trading on Wednesday, extending the previous day’s gains as investors await key economic data and earnings releases.
Boeing Shares Fall as Machinists’ Strike Continues
Boeing shares fell after the company withdrew its contract offer to striking machinists. Boeing said further negotiations “don’t make sense” after the union rejected the company’s proposals. S&P Global warned the strike is increasing financial risk for Boeing and put its bond rating on watch. Boeing shares recently traded down 2.4% to their lowest level in two years.
What’s Next for Chinese Stocks After Stimulus Rally Stumbles?
U.S.-traded Chinese stocks tumbled Tuesday after the government’s economic planning agency said it would accelerate some planned investments but did not outline new stimulus measures. Experts say more robust measures to boost consumer spending and support the property sector are needed for the economic outlook to improve.
Palantir Price Levels to Watch as Stock Hits Record High
Palantir jumped over 6% Tuesday to a record high following bullish commentary from Ark Invest about the company’s potential upside from the AI boom. During retracements, investors should watch key support levels on Palantir’s chart around $32.70, $29, and $25.50. A price target around $55 is forecast based on the stock’s technical trends.
Major Indexes Poised to Open Slightly Lower
Futures tied to the Dow Jones Industrial Average were down less than 0.1% ahead of the opening bell. S&P 500 and Nasdaq 100 futures also pointed to a slightly lower open.
