Tech stocks slump, Boeing down after plane crash, energy stocks rise, mixed economic news.

From Nasdaq: 2024-12-30 13:28:44

The S&P 500, Dow Jones, and Nasdaq 100 are all down today, with tech stocks leading the decline. Boeing is down over 3% after a plane crash. Energy stocks are up due to a rally in WTI crude oil. Economic news is mixed, with the Chicago PMI falling but pending home sales rising.

The US markets are experiencing low volumes and thin trading during the holiday week. Overseas markets are mixed, with the Euro Stoxx 50 down and China’s Shanghai Composite up. T-notes are up as equities slump, with European government bond yields moving lower. Spain’s CPI rose more than expected.

Mega-cap tech stocks like Tesla and Meta Platforms are down, dragging the market. Chip stocks are also weak today, with companies like Micron Technology and Broadcom seeing declines. Boeing is leading the Dow lower after a plane crash. Energy stocks like Coterra Energy and Devon Energy are up.

Axsome Therapeutics is down over 12% after a trial for its Alzheimer’s treatment did not meet expectations. MicroStrategy is down over 6% due to a drop in Bitcoin prices. V2X Inc is up after securing a DEA contract. Earnings reports are due from Gencor Industries Inc and Renovaro Inc.



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