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33 minutes ago
Market Hypothesis: If Boeing remains unchanged in 2024, the Dow Jones Industrial Average will be 308 points higher.
If Boeing’s stock price does not decline by more than 17% in response to the safety concerns surrounding the 737 Max 9, and if it remains unchanged in 2024, the Dow Jones Industrial Average would be 308 points below its current level of about $37,806. It’s going to be expensive.
That’s because the Dow is weighted based on a company’s stock price rather than its market value (similar to the S&P 500). Boeing ended 2023 at $260.66, or about $214 per share on Wednesday. Every $1 change in the Dow Jones Industrial Average’s price is worth about 6.6 points.
Similarly, if UnitedHealth Group remains unchanged in January, the Dow Jones Industrial Average would be 87 points higher. UNH’s financial results earlier this month showed an increase in medical expenses, which RBC Capital said exceeded what management had previously anticipated due to the popularity of the respiratory syncytial virus vaccine.
The combined effects of UnitedHealth and Boeing would result in the Dow trading above $38,200 today, all other prices being equal.
— Scott Schnipper
57 minutes ago
Boeing stock falls as FAA halts 737 Max production expansion
Boeing’s stock price fell nearly 4% after the Federal Aviation Administration suspended the company’s 737 Max production expansion, but the company is on track to return the Max 9 to service.
On Wednesday, the FAA announced it had approved the Max 9 testing order. Regulators grounded the plane after a panel erupted from the plane on January 5.
Boeing stock had a shaky start to the year, dropping nearly 18% in January.
Click here for more information on the FAA announcement.
-Leslie Josephs, Darla Mercado
1 hour ago
West Texas crude hits four-week high, rising nearly 5% in 2024
West Texas Intermediate crude oil futures for March delivery rose about 1% to $75.09 a barrel on Wednesday, the highest since Dec. 26, 2023, and a year-to-date gain of 4.5%. It was 8%.
See chart…
March WTI futures for the past month.
February gasoline futures were little changed at $2.2095 a gallon after rising to $2.2457, the highest since Nov. 30, 2023, and are up 4.9% this year as well. There is.
Other notable commodity price movements pushed March timber futures prices to their highest since July 19, 2023, and London Metal Exchange tin contract prices to their highest since August 11, 2023. .
— Scott Schnipper, Gina Francola
1 hour ago
Dow futures rise, supported by IBM earnings
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