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After yesterday’s double record, the Dow Jones turned downwards. But the stocks that do best in the air have risen sharply.
Photo: Peter K. Afriyie / AP / NTBPublished:
Yesterday 3:31 p.m
Updated yesterday at 10:26 p.m
This is what the benchmark indices look like at the close of trading at 10:00 p.m. Norwegian time:
- The S&P 500 collective index closed with an increase of 0.29 percent, which once again achieved a new top price
- The Nasdaq technology index rose 0.43 percent
- The Dow Jones index fell 0.25 percent
The drop for the Dow Jones came after the index hit 38,000 points for the first time in history on Monday evening.
Part of Tuesday’s decline was tied to a more than 9 percent decline at office supplies giant 3M after the company provided disappointing guidance for its first-quarter results.
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Shipping stocks at record levels after slumps in January: – Strong rise
– Perfectly priced
At the same time, it is clear that optimism now prevails in the USA after a somewhat cautious start to the year in the first days of 2024.
“The market is perfectly valued right now,” Cheryl Young, an advisor at Rockefeller Global Family Office, told CNBC last night.
At the same time, she urges investors to be cautious.
– Any kind of “shock” can lead to pretty big setbacks.
After rising on Monday, oil prices took a hit today. A barrel of North Sea oil (Brent spot) is currently trading for $79.70 per barrel. That’s a decrease of 0.19 percent since midnight.
United problems
Shortly after the market closed on Monday evening, United Airlines presented its quarterly figures for the fourth quarter of 2023.
Despite strong sales figures, the outlook for the first quarter overshadowed this.
United Airlines itself expects a loss of between 35 and 85 cents per share in the first quarter of 2024. That’s worse than the loss of 21 cents per share that analysts had previously expected.
The reason for this is the problems with Boeing 737 Max 9 aircraft in early January, in which an Alaska Airlines plane lost a panel in the fuselage in mid-air. The plane was only eight weeks old.
Returns strongly upwards
All aircraft of this model will continue to be grounded by the US Federal Aviation Administration (FAA), where all aircraft must be inspected.
The same applies to Boeing’s 737-900 aircraft after the FAA issued a new recommendation on Sunday.
Immediately after the quarterly report, the stock fell over 5 percent in after-hours trading, but in the morning hours US time the trend was reversed with an increase of over 7 percent.
United shares finally climbed 5.31 percent on Tuesday.
The other airline stocks also followed the rise:
- American Airlines rose 2.35 percent
- Delta climbed 2.45 percent
- Alaska Airgroup landed at 2.96 percent
- Southwest Airlines rose 3.12 percent
Netflix with billion dollar deal
Results season is in full swing on the other side of the Atlantic. After closing time, the streaming service giant Netflix will present its quarterly figures this evening.
They themselves were able to break the news that they will be streaming WWE Westling next year. This is the company’s first major foray into live sports streaming. According to CNBC, the agreement will last for 10 years and be valued at $5 billion.
According to the website, Netflix has acquired an option in the agreement that secures the ability to exit the agreement after five years – or extend it for another ten years.
The agreement was made in collaboration with TKO Group Holding.
Netflix shares rose 1.07 percent in regular trading on Wall Street on Tuesday.
Results rush
Another company that presented quarterly figures on Monday evening was Johnson & Johnson. The pharmaceutical company also rose ahead of the opening of trading in New York.
The shares fell by 1.62 percent.
General Electric also presented new quarterly figures after the market closed on Monday.
The share fell by 0.82 percent.
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