By Uday Sampath Kumar

(Reuters) – U.S. stock index futures dipped on Tuesday, a day after Wall Street closed at all-time highs, while Boeing was set for its fourth straight session of losses as the planemaker said it would suspend production of its 737 MAX jet in January.

Boeing (N:) shares fell 1.2% premarket, eyeing their lowest open since August, as the crisis around its grounded aircraft forced it into its biggest assembly-line halt in more than two decades.

The news soured the mood after three straight days of record highs for U.S. stock indexes, spurred by cooling trade tensions between the world’s top two economies and upbeat economic data from China.

The S&P 500 () has gained over 27% so far this year, rising in nine of the last 10 weeks, on expectations of a U.S.-China trade deal, a dovish Federal Reserve, a strong corporate earnings season and upbeat economic indicators.

An interim trade agreement was announced on Friday, but some investors still held off on big bets amid skepticism about the lack of details. The three index futures were trading slightly off record levels on Tuesday.

At 7:23 a.m. ET, were down 35 points, or 0.12%, while S&P 500 e-minis were down 1.5 points, or 0.05%. were down just 1.25 points, nearly flat.

Pfizer Inc (N:) rose 1.1% after the U.S. Food and Drug Administration approved the U.S. drugmaker and Astellas Pharma Inc’s (T:) prostate cancer therapy.

Johnson & Johnson (N:) gained 1.3% after reports that Morgan Stanley (NYSE:) upgraded the stock to “overweight” from “equal weight”.

Investor attention now turns to industrial production data for November, due at 09:15 a.m. ET, to gauge the health of the U.S. economy, which has so far been resilient despite trade tensions.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

2019-12-17