Dec 28th, 2023 – The S&P 500 closed marginally higher Thursday, on a new all-time high in the penultimate day of trading, as it added 0,04% to finish at 4,783.35. Also the Dow Jones increased, ending the day at 37,710.10 with a +0.14%. On the other hand Nasdaq decreased by 0.03% closing at 15,05.14.
Shares of Boeing (BA) dropped more than 1% in afternoon trading after the company began to urge inspections on 737 Max to look for a “possible loose bolt” in the rudder control system. This is the latest quality issue that affects the manufacturer’s bestselling jetliner and was found when “an international operator discovered a bolt with a missing nut while performing routine maintenance on a mechanism in the rudder-control linkage”. The inspection will take about two hours per plane and operators don’t expect to have any operational impact. The stock closed with a -1.21% at 233,20. (L.Josephs)
3M (MMM) shares jumped over 1% after the company showed signs that it will raise its dividend next quarter for the 65th straight year, with investors expecting a slight bump to the current $1.50 quarterly dividend, with the next ex-date expected in mid-february. The stock closed with a +0.87% at 109,69. (S.Bell)
Tesla (TSLA) stock began the day with a jump after the company appears to be moving closer to officially unveiling its long rumored India manufacturing plant, with local reports expecting the announcement in early 2024. The global EV giant is expected to establish its latest factory in Gujarat, western India, with the official unveiling taking place during the “Vibrant Gujarat SUmmit” in January. The stock closed with a surprising -3.16% at 253,18. (K.Norton)
Author: Luca Sesena