Boeing Lags On Dow As Futures Slip; Top Chipmaker Eyes New High | Stock News & Stock Market Analysis

Stock futures dropped into negative territory early Friday as investors readied for a pre-Veteran’s Day holiday trading session.

XAutoplay: On | Off Futures for the Dow Jones industrial average and Nasdaq 100 slipped 0.2% below fair value. S&P 500 futures were off 0.3%.

The Dow heads into Friday’s session toting a 0.3% loss for the week. The Nasdaq is down 0.2% and the S&P 500 is showing a 0.1% decline. The Dow and S&P 500 have each logged eight week rallies. The Nasdaq is sitting on a six-week advance.

This year’s Veteran’s Day holiday falls on Saturday, so banks and stock and bond markets will operate on a normal schedule. Friday is a federal holiday, so non-essential federal offices will be closed.

Boeing Backs Off; Nvidia, Hertz Pop; Trade Desk Stops Out

Dow stocks moved almost unanimously lower, but losses were mild. Boeing (BA) led the early declines, down 0.6%. Boeing shares have been pulled back in their first test of support at their 10-week moving average since clearing a flat base in mid-September.

Apple (AAPL) sagged 0.2%, while three of four FANG stock posted premarket losses. Google parent Alphabet (GOOGL) was the holdout, fighting to hold a fractional gain.

Biotech drug maker Dynavax Technologies (DVAX) swept up 17%, after announcing the Food And Drug Administration had approved its Hepislav-B, hepatitis B vaccine. The Berkley, Calif.-based company said it plans to launch the drug in Q1 2018.  The premarket move implied the stock would open at a new high, but its current chart pattern is too deep and short to offer a valid buy point.

IBD 50 stock Nvidia (NVDA) climbed 5% on quarterly results, reported late Thursday, that cleared analysts’ targets by wide margins. The stock ended Thursday extended 18% above a 174.66 buy point in a flat base.

Rental car brand Hertz Global (HTZ) bounced 13% ahead of the open, aiming to take back a piece of its 17% dive for the week through Thursday. The company reported after Thursday’s close its third-quarter earnings beat analyst expectations. Revenue rose 1.2%, just shy of estimates, but the company did report increasing pricing strength due to fleet mix and management tools. Shares ended Thursday up 110% from a June low.

The Trade Desk (TTD) dropped 9% as third-quarter results bested analysts estimates, but fourth quarter guidance worried investors. The stock had undercut its 10-week moving average in heavy trade Thursday, and erased gains from an October breakout.

Japan, Europe Slip; Up Next — Consumer Sentiment

In Japan, Tokyo’s market continued its pullback, slipping 0.8% and marking its first three-day decline since early September, but still ending the week up 0.6%. China’s markets ended mixed on Friday.

In Europe, stocks again traded lower, with London’s FTSE 100 and the CAC-40 in Paris each down 0.3% near midday.

U.S. economic news kicks off at 10 a.m. ET, with the University of Michigan’s preliminary reading on November consumer sentiment. Baker Hughes’ (BHGE) weekly rig count report is due out at 1 p.m. ET, and the Treasury Department is scheduled to release its October budget at 2 p.m. ET.


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Originally posted 2017-11-10 13:19:11.


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