Major U.S. equities indexes gained ground on Tuesday, with tech stocks trending higher after a day of declines on Monday. The Dow Jones Industrial Average and benchmark S&P 500 gained 0.3% and 0.2%, respectively, and the tech-centric Nasdaq rose 0.4%.
Boeing (BA) shares surged 8%, the leading gainers on the S&P 500 after the plane maker’s new CFO said at a conference held by UBS that its plan to ramp up production after safety issues substantially slowed production last year are going according to schedule, and said Boeing expects to generate positive free cash flow next year after burning through billions in the last two years.
Intel (INTC) stock rose 7% as the chipmaker announced plans to invest about $200 million to increase its manufacturing footprint in Malaysia. The stock is also extending a rally that was sparked Friday by reports that Apple (AAPL) could be the company’s next big customer.
Shares of database software maker MongoDB (MDB) popped nearly 25% a day after the company’s latest quarterly results easily topped estimates as it also lifted forecasts for the full year, a month after appointing a new CEO.
U.S.-listed shares of Chinese electric vehicle maker XPeng (XPEV) fell 6% after releasing sales data for November. The company said it delivered just under 37,000 EVs in November, up 19% from the same time a year ago, but below the number that it sold in October in the competitive EV of China.
Symbotic (SYM) shares tumbled 16% as the Walmart (WMT)-partnered robotics company gave back some of the gains it earned rallying nearly 40% after last week’s earnings report. The company topped sales estimates, and announced its first partnership with a medical supply company.
Sandisk (SNDK), the newest member of the S&P 500, led decliners on the index with a 5% drop. The computer storage hardware maker joined the index last week, with shares rallying after the move was announced.
Crude oil futures slipped 0.5% to about $59.00 per barrel, while gold futures sank 1.4% to roughly $4,212 an ounce. The yield on the 10-year Treasury note stayed flat at around 4.09%. The U.S. dollar was little change compared to the euro and pound, and gained on the yen.