Proactive Investors - Futures trading had the Nasdaq and S&P 500 up 95 and 5 points respectively ahead of Wednesday’s opening bell, but the Dow Jones down 11 points as a busy week of earnings goes on.
Eyes were on Boeing Co (NYSE:NYSE:BA, ETR:BCO) as the embattled aircraft manufacturing giant readied to report on its first quarter trading on Wednesday, following January’s door panel blowout and intense pressure subsequently.
Shares in Boeing were up 1.3% ahead of the market’s open, on news of a US$425 million deal with supplier Spirit AeroSystems to address ongoing issues.
Google owner Alphabet (NASDAQ:GOOGL) Inc (NASDAQ:GOOG) was also among the big names set to report on Wednesday, alongside Ford Motor (NYSE:F) Co, with shares in the former down 0.4% and up 0.5% in the latter ahead of these.
Tesla Inc (NASDAQ:TSLA) emerged as one of Wednesday’s big risers in the meantime, up 12.1% in pre-market trading after Tuesday’s earnings.
“Tesla had flagged the expected lower growth rate in 2024, thus, the focus for this earnings report was margins and plans for the future,” XTB analyst Kathleen Brooks said.
“Musk delivered both of these,” she added, pointing to a better-than-expected margin of 17.4% and plans to accelerate the rollout of affordable electric vehicles.