Boeing 737 Disaster Crushes Dow Futures

Boeing is under immense pressure after another 737 Max 8 crash

Managing Editor
Mar 11, 2019 at 9:19 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJI) futures are getting clobbered this morning, trading nearly 200 points below fair value, in the wake of a deadly crash of a Boeing (BA) 737 Max 8 airplane operated by Ethiopian Airlines over the weekend. This is the second fatal crash involving the aircraft in six months. The blue-chip index is fresh off its worst daily losing streak since June.

Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are cautiously higher this morning, though, after Fed Chair Jerome Powell told "60 Minutes" over the weekend that "there's no reason why this economy cannot continue to expand." Elsewhere, retail sales rose 0.2% in January, handily beating the estimated 0.1% loss. 

Continue reading for more on today's market, including: 

  • This pharma stock sank to the bottom of the Nasdaq on Friday.
  • Wall Street targets new lows for GameStop stock.
  • Big Lots' big earnings beat shocked shorts.
  • Plus, FireEye gets upgraded; Tesla raises prices; and Nvidia buys Mellanox.

Stock Futures Chart March 11

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 929,767 call contracts traded on Friday, compared to 693,735 put contracts. The single-session equity put/call ratio dropped to 0.75, and the 21-day moving average remained at 0.62.
  2. FireEye Inc (NASDAQ:FEYE) stock is up 3.7% in electronic trading, after J.P. Morgan Securities upgraded the cybersecurity specialist to "overweight" from "neutral." The brokerage waxed bullishly on the company's potential for billings growth.
  3. Tesla Inc (NASDAQ:TSLA) stock is up 0.9% ahead of the bell, after the company announced it was raising the prices of its higher-end vehicles by 3%, on average. The $35,000 price of its Model 3 will remain the same, though. Tesla stock has shed 14.6% already in 2019, and recently encountered stiff resistance at its 40-day trendline. 
  4. Shares of Nvidia Corporation (NASDAQ:NVDA) are up 1.5% in electronic trading, after the chipmaker acquired Mellanox Technologies (MLNX) for $6.8 billion, its largest deal in history. The move represents an effort by Nvidia to expand into a more data center-driven market. Despite some bearish analyst attention before Valentine's Day, NVDA has added 21% since its Christmas Eve bottom at $124.46.
  5. Business inventories are on tap today. Reporting earnings will be PetIQ (PETQ) and Stitch Fix (SFIX).

stock market news march 11

Asian Stocks Rebound, Bank Merger Lifting Europe

Asian stock markets were able to recover today, despite growing worries about the state of the global economy. China’s Shanghai Composite snapped back from Friday’s heavy selling to finish up 1.9%, getting help from People’s Bank of China Governor Yi Gang, who suggested more could be done to support lending activity. Hong Kong’s Hang Seng followed with a 1% gain, and Japan’s Nikkei added 0.5%. In South Korea, the Kospi managed a 0.03% win. 

Stocks in Europe are also rising at midday. Traders are considering news that financial giants Deutsche Bank and Commerzbank have agreed to discuss a potential merger. Meanwhile, investors are awaiting Tuesday’s key vote in the U.K., which will decide if its Brexit deal will be accepted. Against this backdrop, London's FTSE 100 and the German DAX are both up 0.3%, and France’s CAC 40 is sporting a 0.2% lead. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI