Important points
U.S. stocks were lower at midday Monday as investors appeared to be taking advantage of a big rally in 2024 stocks ahead of the final day of the year. The Dow Jones Industrial Average, S&P 500, and Nasdaq index all fell about 1%.
Boeing (BA) has become one of the worst performing stocks on the Dow Jones Industrial Average after South Korean authorities ordered an inspection of its 737-800 aircraft following this weekend’s Jeju Air flight crash.
MicroStrategy (MSTR) stock price plunges after Bitcoin’s largest corporate holder announced it sold more than 592,000 shares and used the $209 million raised to buy more of the cryptocurrency .
Archer Aviation (ACHR), the electric vertical take-off and landing (eVTOL) aircraft manufacturer backed by United Airlines (UAL), announces it will double the number of common shares available and change its board of directors membership requirements. Archer Aviation (ACHR) stock fell.
Energy companies such as EQT (EQT) and Coterra Energy (CTRA) dominated the S&P 500’s list of gainers as natural gas prices soared on the prospect of strong demand as cold weather arrives in the U.S. and Europe.
Nvidia (NVDA) was the only Dow stock in positive territory. Shares rose after the artificial intelligence (AI) chipmaker completed its acquisition of Israel-based AI infrastructure company Run:ai.
Shares of another AI company, Paradyne AI (PDYN), soared after the robotics software maker reported that a drone using its technology had successfully tracked a moving target for the first time.
Crude oil futures rose. Gold prices were little changed. The yield on the 10-year US Treasury note has fallen. The US dollar rose against the euro and pound, but fell against the yen. Major cryptocurrencies have fallen.
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