Stock market today: Live updates

Here are some stocks seeing notable moves in Monday’s pre-market trading:

• Boeing Co. — Shares of Boeing Co. rose 2.1% after the plane maker announced a broad leadership shakeup. The changes come at a time when the company faces heightened scrutiny and a reputational crisis.
• CLEVELAND – Shares of the steelmaker rose 1.7% after the steelmaker announced it had won negotiations to award funding for two Department of Energy projects.
• Foot Locker — The footwear retailer rose 2.9% as its Evercore ISI was upgraded to outperform.

See the full list here.

— Alex Harling

Boeing Co rose more than 2% in premarket trading after the planemaker announced the resignation of Chief Executive Dave Calhoun.

Calhoun will leave at the end of 2024 as part of a broad leadership shake-up at the troubled airline. Board Chairman Larry Kellner is resigning and will leave the board at the company’s annual meeting in May. Boeing Commercial Airplanes President and CEO Standier has resigned immediately.

The measures come amid a period of scrutiny and reputational crisis after a panel exploded mid-flight on a Boeing plane. In 2024, Boeing’s stock price fell more than 27%.

— Alex Harling

Raymond James said investors have been calling for the market to expand this year, but all evidence so far points to that being a myth.

“As we show in this week’s chart, this drumbeat of ‘expansion’ doesn’t match the data. The S&P 500 continues to outperform the equal-weighted Russell 1000 (almost every week this year), and we think the argument is’ A textbook example of a narrow’ market,” the bank wrote.

At the same time, strategist Tavis McCourt pointed out that by 2024, Nvidia will still outperform 10 “AI derivative” games every week.

“Again, no dramatic expansion,” he wrote.

— Lisa Kailai Han

The European Union said on Monday it had begun investigations into Apple, Alphabet and Meta platforms under the new Digital Markets Act.

“Today, the Commission initiated non-compliance under the Digital Markets Act (DMA) with respect to Alphabet’s guidance in Google Play and self-preference rules on Google Search, Apple’s guidance in the App Store, and Safari and Safari’s select screen rules. Investigation. Meta’s ‘pay or consent model’,” the committee said in a statement.

Before the market opened, the share prices of the three companies fell slightly.

— Fred Ambert

Malaysia’s headline inflation rate climbed for the first time since August 2022, reaching 1.8%, compared with 1.5% in January.

Economists polled by Reuters had forecast inflation falling to 1.4%.

On a monthly basis, Malaysia’s inflation rate rose to 0.5% from 0.2% in January.

— Lim Hui Jie

Hong Kong-listed shares of Chinese food delivery company Meituan-Dianping rose 9.6% to HK$96.80, their highest level since late November.

The company’s fourth-quarter revenue was 73.7 billion yuan ($10.31 billion), an increase of 22.6% from the same period last year.

The company’s annual revenue was 276.7 billion yuan ($38.44 billion), an increase of 26% over the previous year.

The company said it “continues to increase investment in China’s consumer market and technology research and development.”

—Shreyash Sanyal

Reuters reported that Japan’s chief monetary diplomat Masato Kanda said that the yen’s current weakness does not reflect its fundamentals.

The yen has weakened steadily over the past two weeks despite the Bank of Japan’s move to raise interest rates and remove its yield curve control policy. The yen has broken through the psychological level of 150 against the dollar and is currently trading at 151.28.

According to Reuters, Kanda told reporters that a weak yen based on speculation has a negative impact on the economy.

However, Kanda said he did not expect the exact extent of the exchange.

Stock index futures opened slightly mixed Sunday night.

Futures related to the Dow Jones Industrial Average edged down 33 points, or about 0.1%. S&P futures were down less than 0.1%, while Nasdaq 100 futures were hovering above flat.

Last week, all three major stock indexes broke all-time closing highs.

— Pia Singh