Boeing beats on earnings, S&P 500 futures hit record high


U.S. stocks looked set for a higher open on Wednesday, with the Dow set to take a shot at 20,000, following a raft of strong quarterly earnings and optimism around President Donald Trump’s pro-growth policies, Reuters reported.

The Trump rally had driven Wall Street to a series of record highs since November.

The S&P 500 and the Nasdaq Composite closed at record levels on Tuesday as the post-election rally roared back to life after Trump signed executive orders to move forward with the construction of two oil pipelines.

Drew Forman, co-head of sales and trading equity at Macro Risk Advisors in New York, commented:

You are seeing futures continue from yesterday’s euphoria as more money gets put to work.

The dollar dropped to a near seven-week low on Wednesday of 99.84.

Gains in Boeing (NYSE:BA) could provide the Dow .DJI an impetus to breach the 20,000, after coming within 90 points of the milestone a day earlier.

The world’s biggest maker of jetliners’ stock was up 1.11% premarket after the company said it expected to deliver more commercial aircrafts this year than in 2016.

Boeing forecast operating cash flow of about $10.75 billion in 2017. The company reported record cash flow of $10.5 billion in 2016.

No key economic data is expected on Wednesday.

Related News

arrow

Boeing beats on earnings, S&P 500 futures hit record high

2

Send this to a friend