Stocks set for gains as Boeing order boosts Dow

Valuations dipping due to inflation could be ‘real shock’ to Silicon Valley: Craft Ventures co-founder

Craft Ventures co-founder and general partner David Sacks discusses investing in this generation’s most iconic companies, inflation, innovation in the tech sector and possible social media regulation if the GOP sweeps the 2022 midterms.

U.S. stock futures pointed to gains Monday as the major averages honed in on record highs after strength in Boeing shares boosted the Dow.

INFLATION MAY PAVE WAY TO RECESSION: PETER SCHIFF

Dow Jones Industrial Average futures rose 104 points, or 0.29%, while S&P 500 futures and Nasdaq 100 futures advanced 0.22% and 0.23%, respectively. All three of the major averages on Friday closed within 1% of their all-time highs as investors looked past the hottest inflation reading in more than 30 years. 

In stocks, Dow component Boeing Co. received an order from Emirates for two 777 Freighters, valued at more than $704 million at list prices. The aircraft are expected to be delivered in April and June 2022.  

Tesla Inc. shares continued lower after CEO Elon Musk battled Sen. Bernie Sanders, D-Vt., in a Twitter spat over taxes. The stock dropped 15.4% last week after Musk sold $6.9 billion worth of shares for tax purposes. 

Royal Dutch Shell will eliminate its dual-share structure and move its tax residence to the U.K. The company will also remove "Royal Dutch" from its name.  

Activist investor Mantle Ridge disclosed a $1.8 billion stake in Dollar Tree Inc. and will make moves aimed at boosting the company’s share price. 

Crowdstrike Holdings Inc. was initiated at Underweight by Morgan Stanley and given a price target of $247 per share due to valuation concerns. 

In earnings, Tyson Foods Inc. forecast 2022 sales above Wall Street estimates due to rising meat prices and stronger demand from restaurants. Quarterly earnings and revenue were both better than expected. 

WeWork Inc. reported its quarterly loss narrowed from a year earlier amid a rebound in demand for office space caused by the lifting of COVID-19 restrictions. This was the company’s first quarterly report since going public last month. 

Walmart Inc., Target Corp., Home Depot Inc. and Macy’s Inc. are among the retailers set to report their quarterly results later this week.  

In commodities, West Texas Intermediate crude oil slid $1.09 to $79.70 a barrel and gold fell $2.30 to $1,866.20 an ounce. 

Overseas markets traded mostly higher. 

European bourses were mixed with Germany’s DAX 30 ticking up 0.09% and France’s CAC 40 advancing 0.42% while Britain’s FTSE 100 lost 0.21%. 

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In Asia, China’s Shanghai Composite index slipped 0.16%, Hong Kong’s Hang Seng Index rose 0.25% and Japan’s Nikkei 225 jumped 0.56%. 

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