The two stocks Wall Street will keep an eye on Wednesday

Pelican Press · 2024-10-23T12:48:06+0000

This is the hidden content, please Sign In or Sign Up The two stocks Wall Street will keep an eye on Wednesday (This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Investors on Wednesday were focused on big news involving two Dow Jones Industrial Average components: Boeing and McDonald’s. The current bull market and how much more stocks can continue to rally was also on investors’ minds. McDonald’s E. coli outbreak, Boeing earnings McDonald’s shares were lower and the primary drag on Dow futures after an E-coli outbreak linked to Quarter Pounders that has ******* one person and lead to dozens being hospitalized. Bank of America analyst Sara Senatore thinks the reaction on both traditional and social media will play a big role in how investors react to this news. “If the media attention and the outbreak itself is short-lived it could almost be transitory on the impact. … But the other end of the spectrum, given the severity and how long this lasts and the media attention, I think McDonald’s gets more scrutiny than most, it can have a dampening impact on demand for some time,” Senatore told “Worldwide Exchange.” Meanwhile, Boeing reported earnings before the bell and later today expects the results of vote on a contract proposal for the 32,000 striking union machinists. New CEO Kelly Ortberg will appear on CNBC in the 9 a.m. ET hour for an exclusive interview with Phil Lebeau. Tony Bancroft of Gabelli Funds, portfolio manager for its Aerospace and Defense ETF (GCAD) — where Boeing is the top holding — said on Worldwide Exchange that Ortberg has a 3 big issues to address. “He needs to say we are laser focused on getting this negotiation settled with the union. I think they really need to rip off the Band Aid and come out with however they are going to raise capital.” He added that investors need clarity on the Federal Aviation Administration restrictions limited Boeing to producing 38 737 Max Jets per month and the company’s relationship with regulators. Piper Sandler’s new S & P 500 target Craig Johnson of Piper Sandler raised his S & P 500 target for 2024 to 6,100 from 5,800. Johnson also announced his 2025 Target of 6,600. Johnson added new companies to the Piper Sandler Technical Opportunities Portfolio including: Toast , Corning , Illumina , Marvell and Scotts Miracle-Gro . This is the hidden content, please Sign In or Sign Up #stocks #Wall #Street #eye #Wednesday This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up

By Pelican Press,
October 23 in World News

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Posted October 23

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