- Boeing shares under pressure for reports of a new defect in the company's 737 MAX jet fleet
- Investors digest conflicting reports on the state of trade negotiations between the US and China
- semiconductor stocks leading up to the rally contributed on Wednesday; Advanced Micro Devices and Nvidia shares increase.
Dow Jones Industrial Average futures fell on Thursday on reports of a new flaw in the 737 MAX jet fleet troubled by Boeing Co. and after investors digested reports for which China set conditions for resumption of Chinese-based American trade negotiations.
Futures for the Dow Jones Industrial Average
had dropped by 12 points or 0.1% to 26,535, but had reached a low of 26,445 points with Boeing Co
BA, + 1.52%
stocks declined 2% before the IPO, leading to a headwind of around 40 points on the price-weighted blue-chip index. The aerospace and defense companies lost more than 5% before entering the market.
CNN reported that new problems had arisen with the computer system of the Boeing 737 fleet, which could delay the plane's return to the air after a global landing in March. The fleet was shut down after the crash of Lion Air flight 610 and Ethiopian Airlines flight 302, which killed 346 people.
Futures for the S & P 500 Index
ESU19, + 0.25%
traded 3.85 points or 0.1% at 2,921.75 and the Nasdaq 100 futures
NQU19, + 0.45%
rose 17.25 points or 0.2% to 7,667.25. Meanwhile, the Wall Street Journal reported that Chinese President Xi Jinping is presenting President Donald Trump in anticipation of an anticipated meeting on the sidelines of the upcoming G-20 meeting of developed countries to solve a market-rattling trade confrontation in Osaka, Japan Weekend.
The provisions include the lifting of a US technology ban on Chinese telecommunications giant Huawei Technologies Co., the lifting of punitive tariffs and the end of the call for China to buy additional US exports.
The claims raise some doubts that the two sides can relax and come, according to a report from the South China Morning Post, that a temporary ceasefire has been reached between the US and China.
Investors will also see data on new claims for US unemployment benefits due on Thursday at 8:30 am Eastern time, and new claims for unemployment benefits, with economists interviewed by MarketWatch expecting a value of 216,000. At the same time, the Ministry of Commerce will publish its final revision of GDP growth in the first quarter.
At 10:00, the National Association of Realtors publishes its outstanding property sales index.
Which titles are in focus?
Occidental Petroleum Corp .
OXY, + 2.11%
Share could be in focus on Wednesday after investor Carl Icahn convened an Extraordinary General Meeting to try to replace four directors on the board I have none $ 38 Billion Deal Approved For Purchase Anadarko Petroleum Corp .
APC, + 0.57%
The deal is expected to close in the second half of 2019. Occidental stocks remained unchanged before trading on Thursday.
Stocks of Lyft Inc .
increased 1.5% after informing the autonomous vehicle company Waymo, a subsidiary of Google Mother Alphabet Inc .
has officially launched a program to make some self-driving minivans available to Lyft customers. The program is only available in a small area outside Phoenix, Arizona.
Rite Aid Corp. .
RAD, + 3.80%
announced Wednesday's financial results for the first quarter and reported higher-than-expected loss and no revenue growth. The retailer's shares fell 9.7% during non-business hours. Rival Walgreens Boots Alliance Inc .
reported better-than-expected third-quarter results on Thursday morning, pushing the stock up around 1% before trading began.
Fellow Retailer Pier 1 Imports Inc.
PIR, + 1.39%
also reported disappointing results after the close on Wednesday. Shares fell 19% before trading Thursday.
Shares of Conagra Brands, Inc .
CAG, + 0.14%
fell 5% from market entry after the processed and packaged food maker reported lower-than-expected fourth quarter earnings and poorer-than-expected sales Thursday morning ,
Health Equity Inc .
fell 3.9% in the premarket trade after the HSA's non-bank administrator reached an agreement on Thursday to acquire WageWorks Inc
would have. WAGE, + 1.63%
Semiconductor stocks should contribute to yesterday's rally, triggered by the optimistic forecast of Micron Technologies Inc .
MU, + 13.34%
Management. Shares in Advanced Micro Devices Inc
AMD + 3.67%
increased 1.6% and Nvidia Corp. .
NVDA, + 5.14%
Equities rose 1% on Thursday before trading.
How did other markets act?
The yield on the 10-year US Treasury note
dropped less than one basis point to 2.037%.
In Asia, the Japanese Nikkei 225
NIK, + 1.19%
jumped 1.2% overnight, while China's Shanghai Composite Index
SHCOMP, + 0.69%
fell 0.7%. Hong Kong's Hang Seng
HSI, + 1.42%
index rose 1.4%. In Europe, the Stoxx Europe 600 was 0.2% lower.
In the commodity markets the crude oil price
and gold prices
withdrew. The dollar
DXY, + 0.02%
traded flat, measured by the ICE US Dollar Index at 96.18.