Boeing stock is weighing on the Dow, after reports of a new flaw in the company's 737 MAX jet fleet
Futures for the Dow Jones Industrial Average turned lower on Thursday amid reports of a new flaw with Boeing Co.’s troubled 737 MAX jet fleet and as investors digested reports that China was setting terms for Sino-American trade negotiations to resume.
Futures for the S&P 500 index ESU19, +0.31% traded up 7.6 points, or 0.3%, at 2,925.75 and Nasdaq-100 futures NQU19, +0.47% rose 36.5 points, or 0.5%, at 7,687.25. The demands raise some doubts that the two sides can achieve a detente and comes after a report from the South China Morning Post that a tentative U.S.-China truce had been achieved.
The Commerce Department issued its final revision of first quarter GDP growth, with the Commerce Department’s estimate holding steady at 3.1%.Which stocks are in focus? Occidental Petroleum Corp. OXY, -0.12% stock could be in focus Wednesday, after investor Carl Icahn called for a special shareholder meeting, where he will seek to replace four directors on the board, arguing that the company’s board should not have approved a $38 billion deal to buy Anadarko Petroleum Corp. APC, +0.
Fellow retailer Pier 1 Imports Inc. PIR, -19.60% also reported disappointing earnings after the market close Wednesday. Shares fell 18% before the start of trade Thursday. Semiconductor stocks appear set to add to yesterday’s rally, instigated by upbeat guidance by Micron Technologies Inc. MU, +0.31% management. Shares of Advanced Micro Devices Inc AMD, +1.20% rose 1.8% and Nvidia Corp. NVDA, +1.81% shares added 1.2% in premarket trade Thursday, after Wedbush Securities initiated coverage of those stocks with an outperform rating.
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