Wall Street tipped toward losses before today’s opening as markets prepared for another busy week of corporate earnings reports, according to the Associated Press. Futures for the S&P 500 fell 0.4% before the bell, while futures for the Dow Jones industrials ticked down 0.2%.
Boeing rose 3.1% after the troubled aerospace giant offered the union representing striking machinists a new contract proposal over the weekend. The proposed deal would provide bigger pay raises and bonuses in a bid to end a costly walkout that has crippled production of airplanes for more than a month. The union plans to hold a ratification vote on Wednesday, the same day Boeing reports its third-quarter earnings.
Kenvue, the consumer health brands company that Johnson & Johnson spun off last year, climbed 8.2% on a Wall Street Journal report that activist investor Starboard Value had taken a significant stake in the maker of Band-Aids and Tylenol. Before today’s premarket rally, Kenvue shares had lost about a fifth of their value since the company started trading publicly in May 2023.
U.S. benchmark crude was up $1.48 at $70.17 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, picked up $1.33 to $74.39 per barrel.
The dollar rose to 149.91 Japanese yen from 149.57 yen late Friday.
