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Boeing to Gain From Higher Output, Certifications, Cash Flow, RBC Says

Boeing (BA) could benefit from higher aircraft production, stronger free cash flow, upcoming certifications and improving defense results, RBC Capital Markets said in a note emailed Wednesday.Boeing's better-than-expected Q2 free cash flow gives the company a stronger chance of reaching the upper end of its roughly $2 billion 2026 forecast, RBC said.The investment firm expects Boeing to keep raising 737 MAX production, with output moving toward 47 aircraft per month and a later increase to 52 becoming more likely.Certification of the MAX 7 and MAX 10 by the end of 2026 could support the stock, while further progress on the 777X could also improve investor confidence, RBC said, adding that Boeing's defense business is expected to become less risky over time as major programs advance, although the recent $280 million VC-25 charge was higher than expected.RBC kept the company's outperform rating and lowered the price target to $265 from $275.Price: $210.63, Change: $-10.94, Percent Change: -4.94%

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Research

RBC Cuts Price Target on Boeing to $265 From $275, Keeps Outperform Rating

Boeing (BA) has an average rating of overweight and mean price target of $271.12, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$BA
Update: Dow Extends Advance Following Strong Earnings Reports
US Markets

Update: Dow Extends Advance Following Strong Earnings Reports

(Updates with market moves at the end of the day.)The Dow Jones Industrial Average rose for a third straight session on Tuesday, supported by upbeat earnings reports, a day before the Federal Reserve announces its interest rate decision.The Dow ended the session 1% higher at 52,747.32, while the S&P 500 added 0.2% to 7,428.78. The Nasdaq Composite fell 0.2% to 24,876.91, its fifth consecutive day in the red. Most sectors were in the green, led by health care, while energy saw the sharpest drop.Sherwin-Williams (SHW) jumped 8.3%, the best performer on the Dow and the third-top gainer on the S&P 500, after the paint and coating manufacturer reported stronger-than-expected second-quarter results and raised its full-year outlook.Coca-Cola (KO) and Boeing (BA) were also among the biggest gainers on the Dow, advancing by 5% and 4.8%, respectively.The beverage giant raised its full-year earnings growth outlook as it reported stronger-than-expected second-quarter results. The planemaker's second-quarter loss exceeded Wall Street's estimates, while its free cash flow turned positive.Chip stocks were among notable laggards, with Sandisk (SNDK) down 14%, the worst performer on the S&P 500. Micron Technology (MU) shed 8.9%, Advanced Micro Devices (AMD) declined 8.2% and Intel (INTC) was off by 5.9%.The Federal Open Market Committee's meeting began Tuesday, with a decision due Wednesday. The probability of the central bank leaving its benchmark lending rate unchanged was at about 69%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.With markets expecting no change to the Fed's monetary policy settings, the focus will be on the path forward for interest rates.Last month's bout of disinflation "only further complicates expectations for future inflation and the outlook for rates," Stifel said in a report Tuesday."The doves are optimistic that inflation could cool further into year-end as the impact of tariffs rolls off and energy prices stabilize," the brokerage said. "The recent rise in tensions overseas, however, coupled with (artificial intelligence)-sector price pressures suggest further upside inflationary risks remain, shifting the pendulum back into the hawk's camp."West Texas Intermediate crude oil declined 4.4% to $78.99 a barrel in Tuesday late-afternoon trade, while Brent dropped 5.2% to $83.73."The oil market continues to sell off heavily, with the US and Iran continuing to hold off on further strikes," ING said.President Donald Trump said Monday that there was "a good chance" of a deal with Iran as talks continued, Reuters reported.Treasury yields were lower, with the two-year rate down 4.6 basis points at 4.28% and the 10-year rate falling 4.1 basis points to 4.6%.In economic news, US consumer confidence unexpectedly fell in July, with "little improvement" in business conditions expected over the next six months, a survey by the Conference Board showed.Gold fell 1.3% to $4,023.90 per troy ounce, while silver lost 2.3% to $57.35 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$BA$INTC$KO$MU$SHW$SNDK
Wire

Boeing's Reaffirmed 2026 Cash Outlook Puts Focus on H2 Recovery, Jefferies Says

Boeing's (BA) reaffirmed 2026 free-cash-flow target suggests the company will need a sizable H2 cash recovery after a VC-25 charge and H1 outflows, Jefferies said Tuesday in a report.Boeing's Q2 cash performance was well ahead of expectations, helped by working-capital inflows, even as the company prepares for a Department of Justice payment tied to the 737 MAX agreement, higher capital spending, and the timing effects of the 777X charge booked in the quarter, Jefferies said.Boeing still expects certification of the MAX-7 and MAX-10 in 2026 with first deliveries in 2027, and that the 777X remains slated for first delivery in 2027 following recent regulatory progress, the report said.Jefferies maintained its buy rating on Boeing stock with a $295 price target.Price: $221.45, Change: $+9.95, Percent Change: +4.70%

$BA
Update: Equities Mostly Rise Intraday as Fed Meeting Begins
US Markets

Update: Equities Mostly Rise Intraday as Fed Meeting Begins

(Updates with latest market prices and developments.)US benchmark equity indexes were mostly higher intraday as traders tracked fresh earnings reports, while the Federal Reserve kicked off its two-day monetary policy meeting.The Dow Jones Industrial Average was up 1.2% at 52,850.8 after midday Tuesday, while the S&P 500 rose 0.4% to 7,438.8. The Nasdaq Composite was little changed at 24,937.7. Most sectors were in the green, led by health care, while energy saw the sharpest drop.Sherwin-Williams (SHW) jumped 8.7%, the best performer on the Dow and the S&P 500, after the paint and coating manufacturer reported stronger-than-expected second-quarter results and raised its full-year outlook.Boeing (BA) and Coca-Cola (KO) were also among the biggest gainers on the Dow.The planemaker's second-quarter loss exceeded Wall Street's estimates, while its free cash flow turned positive. The beverage giant raised its full-year earnings growth outlook as it reported stronger-than-expected second-quarter results.Chip stocks were among notable laggards intraday, with Sandisk (SNDK) down 14%, the second-worst performer on the S&P 500. Micron Technology (MU) shed 8.8%, Advanced Micro Devices (AMD) declined 7.2% and Intel (INTC) was off by 4.9%.The Federal Open Market Committee's meeting began Tuesday, with a decision due Wednesday. The probability of the central bank leaving its benchmark lending rate unchanged was at about 70%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.With markets expecting no change to the Fed's monetary policy settings, the focus will be on the path forward for interest rates.Last month's bout of disinflation "only further complicates expectations for future inflation and the outlook for rates," Stifel said in a report Tuesday."The doves are optimistic that inflation could cool further into year-end as the impact of tariffs rolls off and energy prices stabilize," the brokerage said. "The recent rise in tensions overseas, however, coupled with (artificial intelligence)-sector price pressures suggest further upside inflationary risks remain, shifting the pendulum back into the hawk's camp."West Texas Intermediate crude oil declined 4.8% to $78.64 a barrel intraday, while Brent dropped 5.4% to $83.60."The oil market continues to sell off heavily, with the US and Iran continuing to hold off on further strikes," ING said.President Donald Trump said Monday that there was "a good chance" of a deal with Iran as talks continued, Reuters reported.Treasury yields were lower intraday, with the two-year rate down 5.2 basis points at 4.27% and the 10-year rate falling 3.9 basis points to 4.6%.In economic news, US consumer confidence unexpectedly fell in July, with "little improvement" in business conditions expected over the next six months, a survey by the Conference Board showed.Visa (V), NXP Semiconductors (NXPI) and automaker Ford (F), among others, are expected to release their earnings after market close.Gold fell 1% to $4,036.10 per troy ounce, while silver lost 2% to $57.55 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$BA$F$INTC$KO$MU$NXPI$SHW$SNDK$V
Boeing Second-Quarter Loss Exceeds Estimates as Air Force One Program Weighs on Bottom Line
US Markets

Boeing Second-Quarter Loss Exceeds Estimates as Air Force One Program Weighs on Bottom Line

Boeing's (BA) second-quarter loss exceeded Wall Street's estimates amid a drag from its Air Force One program, while the aircraft manufacturer's free cash flow turned positive.Boeing's core loss narrowed to $0.76 per share from $1.24 a year earlier, but came in higher than the FactSet-polled consensus that called for a $0.17 loss. Revenue increased 8% to $24.56 billion, while analysts expected $24.17 billion.Boeing posted $280 million in losses on the VC-25B program, the next-generation Air Force One aircraft, as it ramped up spending on production and certification. The company continues to anticipate its first delivery in 2028.US President Donald Trump took his first flight on the interim VC-25B "Bridge" aircraft this month.The plane maker reported free cash flow of $631 million in the second quarter, compared with a year-ago cash burn of $200 million."While there is more work ahead in the second half of the year, the momentum we are building continues to move Boeing in the right direction," Chief Executive Kelly Ortberg said in a statement.Boeing's commercial airplane revenue grew 8% to $11.75 billion as second-quarter deliveries jumped 14% year over year to 171 planes. Revenue in the defense, space and security segment rose 13% to $7.48 billion, while global services sales edged up 1% to $5.34 billion.Total backlog increased to a record $715 billion, including orders for more than 6,200 commercial airplanes, Boeing said.The planemaker has completed certification flight testing for the 737-7 and 737-10 variants, expecting first deliveries in 2027."Our operations are more stable and key certification programs remain on plan," Ortberg said.Shares of Boeing were up 4.5% in Tuesday trade.Price: $220.74, Change: $+9.24, Percent Change: +4.37%

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Wire

Top Midday Stories: Corning Shares Fall on Tepid Q3 Sales Guidance; Coca-Cola Rases EPS, Revenue Outlook, Shares Rise

The Dow Jones Industrial Average and S&P 500 were up in late-morning trading Tuesday, while the Nasdaq Composite was roughly flat, as certain semiconductor stocks sold off.In company news, Corning (GLW) reported Q2 non-GAAP earnings Tuesday of $0.78 per diluted share, up from $0.60 a year earlier and above the FactSet consensus analyst estimate of $0.76. Second-quarter revenue was $4.74 billion, up from $4.05 billion a year ago and above the FactSet consensus of $4.63 billion. For Q3, Corning said it expects diluted EPS of $0.85 to $0.89, compared to the FactSet consensus of $0.85. The company said it expects Q3 sales of $4.9 billion to $5 billion, compared to the FactSet consensus of $5 billion. Corning shares were down 15.5% around midday.Coca-Cola (KO) reported fiscal Q2 comparable diluted EPS Tuesday of $0.97, up from $0.87 a year earlier and above the FactSet consensus of $0.93. Net Q2 operating revenue was $13.38 billion, up from $12.54 billion a year ago and above the FactSet consensus of $13.17 billion. For 2026, the company said it expects comparable EPS growth of 9% to 10%, up from its previous guidance of 8% to 9%, and it raised its organic growth revenue outlook to about 5% from 4% to 5%. Coca-Cola shares were up 6.0%.Boeing (BA) reported a Q2 core loss Tuesday of $0.76 per share, narrowing from a loss of $1.24 a year earlier but below the FactSet consensus of a loss of $0.28. Second-quarter revenue was $24.56 billion, up from $2.75 billion a year ago and above the FactSet consensus of $24.26 billion. The company said Q2 deliveries increased 14% to 171 planes. Boeing shares were up 4.0%.Visa (V) confirmed toearlier Tuesday reports that it will trim around 2,600 jobs, or about 7% of it workforce, as part of Chief Executive Ryan McInerney's plan to streamline operations. The cuts will mainly impact its technology and product teams. Visa shares were up 1.2%.Apple (AAPL) saw its market capitalization surpass $5 trillion for the first time on Tuesday morning, Bloomberg reported. Separately, the company is planning to launch a number of home products, including a hub device built around the new Siri AI assistant, Bloomberg reported Tuesday, citing people with knowledge of the matter. Apple is also preparing a new TV set-top box and updated HomePod mini, the people reportedly told Bloomberg. Lastly, Apple said Tuesday it has partnered with Klarna Group (KLAR) on a new program that will allow US customers to lease an iPhone for $17.99 per month. In addition to the iPhone, the program, called Apple Upgrade, is offering 12- and 24-month leasing options for Apple Watch, Mac and iPad for $11.99, $24.99 and $11.99 per month, respectively. Apple shares were up 0.8%.Meta Platforms (META) and BlackRock (BLK) have agreed to form a strategic venture to develop and own a 1-gigawatt data center campus in El Pas, Texas, Meta said Tuesday. Funds managed by BlackRock will own an 80% interest in the joint venture, with Meta holding the remaining 20%, the tech giant said. Meta shares were flat, while BlackRock shares were up 3.2%.China's Moonshot AI is seeking more Nvidia (NVDA) Blackwell chips, as it discusses plans for Kimi K4, its next model that will be larger than its recently released Kimi K3, The Information reported Tuesday, citing two people familiar with the matter. Nvidia shares were up 0.7%.Two of Amazon's (AMZN) data centers in Bahrain sustained damage following missile strikes last week that Iran claimed to carry out, Bloomberg reported Tuesday, citing satellite imagery. Amazon shares were down 0.4%.PayPal (PYPL) reported Q2 non-GAAP EPS Tuesday of $1.38, down from $1.40 a year earlier but above the FactSet consensus of $1.28. Net Q2 revenue was $8.68 billion, up from $8.29 billion a year ago and above the FactSet consensus of $8.47 billion. For Q3, the company said it expects to post a roughly low-single-digit decline in non-GAAP EPS from $1.34 a year earlier. Analysts polled by FactSet expect $1.33. For 2026, PayPal expects non-GAAP EPS of about $5.38, above the FactSet consensus of $5.31. Separately, the company said it will offer installment payments for up to 48 months for eligible Amazon customers in Germany and Austria starting in August. PayPal shares were up 3.9%.Price: $88.98, Change: $+4.91, Percent Change: +5.84%

$AMZN$BA$BLK$GLW$KO$META$NVDA$PYPL$V
Stocks Mostly Down Pre-Bell Amid Chip Sell-Off; Traders Await More Earnings
US Markets

Stocks Mostly Down Pre-Bell Amid Chip Sell-Off; Traders Await More Earnings

US equity futures were mostly tracking in the red on Tuesday amid a selloff in chip stocks over concerns about artificial intelligence financing, while traders await the latest batch of corporate earnings.The S&P 500 declined 0.2% and the Nasdaq fell 0.9% in premarket activity, while the Dow Jones Industrial Average edged up 0.1%. The indexes finished the previous trading session mixed.Shares of Nvidia (NVDA) were down 0.9% pre-bell after closing Monday with a nearly 5% decrease. The tech bellwether is reportedly in talks to provide a roughly $250 billion backstop for OpenAI as part of a data-center project, raising concerns about "circular financing," in which suppliers are also major investors in their customers.Sandisk (SNDK) slipped 7.2% while Intel (INTC) was off 4.1%. Marvell Technology (MRVL) shed 4.9% and Qualcomm (QCOM) declined 2.9%. Advanced Micro Devices (AMD) dropped about 4%.West Texas Intermediate crude oil declined 2.2% to $80.86 a barrel before the opening bell, while Brent slid 2.3% to $86.32.US President Donald Trump told Axios on Monday that the US is in "very deep talks" with Iran, though he said military action could resume if diplomacy fails. His remarks came as the US apparently halted strikes against Iran."While this is the first tangible signal of de-escalation, the reasons behind it are less clear," ING Bank said in a report on Monday. "There's little explanation from the US. Also, it hasn't yet led to any meaningful pickup in vessel flows through the Strait of Hormuz."Tehran's foreign ministry continued to hold discussions with Saudi Arabia and Oman on Tuesday over the future of the Strait of Hormuz, CNBC reported.Coca-Cola (KO), Boeing (BA), S&P Global (SPGI), United Parcel Service (UPS), Royal Caribbean Cruises (RCL), Sherwin-Williams (SHW) and PayPal (PYPL) are some of the major companies scheduled to report their latest financial results Tuesday. Visa (V), NXP Semiconductors (NXPI) and automaker Ford (F) are expected to release their earnings after the markets close.The Federal Reserve's monetary policy committee is set to kick off its meeting on interest rates today, with a decision due Wednesday. The probability of the central bank leaving its benchmark lending rate unchanged currently stands at 64%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.UBS Securities said Monday it expects three dissents as a base case, but won't be surprised to see two more pushing for a rate hike.Treasury yields were down in premarket action, with the two- and 10-year rates retreating 1.9 basis points each to 4.3% and 4.62%, respectively.Tuesday's economic calendar also has the international trade in goods data, as well as the retail and wholesale inventories reports, all for June, at 8:30 am ET. The Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for May, post at 9 am.The consumer confidence report for July is out at 10 am, along with the Richmond Fed manufacturing index for the same month.Gold moved down 1.4% to $4,021 per troy ounce, while bitcoin dropped 2.2% to $63,463.

Dow JonesNasdaq CompositeS&P 500$AMD$BA$F$INTC$KO$MRVL$NVDA$NXPI$PYPL$QCOM$RCL$SHW$SNDK$SPGI$UPS$V
Update: Wall Street Wavers as Oil Slides; Fed Decision, Major Earnings in Focus
US Markets

Update: Wall Street Wavers as Oil Slides; Fed Decision, Major Earnings in Focus

(Updates with market moves at the end of the day.)US stocks ended mixed in what turned out to be a choppy session on Monday as oil prices tumbled, with investors awaiting the Federal Reserve's monetary policy decision and major earnings releases.The Dow Jones Industrial Average rose 0.5% to 52,210.08, while the Nasdaq Composite edged down 0.2% to 24,932.08. The S&P 500 settled just above the flatline at 7,413.18. Most sectors were in the green, led by consumer staples, while energy saw the steepest decline.West Texas Intermediate crude oil was down 8% at $82.19 a barrel in Monday late-afternoon trade, while Brent slumped 9.2% to $87.90.US President Donald Trump told Axios on Monday that the US is in "very deep talks" with Iran, though he said military action could resume if diplomacy fails. His remarks came as the US apparently halted strikes against Iran.Oman is conducting talks with Iran, but Qatar, Pakistan and Egypt are also actively involved in the process, Axios reported."While this is the first tangible signal of de-escalation, the reasons behind it are less clear," ING Bank said in a report. "There's little explanation from the US. Also, it hasn't yet led to any meaningful pickup in vessel flows through the Strait of Hormuz."Treasury yields were lower, with the 10-year rate down 3.2 basis points at 4.65% and the two-year rate falling 1.1 basis points to 4.35%.The Federal Open Market Committee kicks off its two-day policy meeting on Tuesday, with a decision on interest rates due the following day. The probability of the central bank leaving its benchmark lending rate unchanged currently stands at 62%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.UBS Securities expects three dissents as a base case, but said it won't be surprised to see two more pushing for a rate hike.Tech giants Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Meta Platforms (META) are scheduled to release their latest financial results later this week, along with Visa (V), Mastercard (MA), ExxonMobil (XOM), Coca Cola (KO), Procter & Gamble (PG), Qualcomm (QCOM) and Boeing (BA).In company news, Nvidia (NVDA) has agreed to expand its partnership with South Korean conglomerate SK Group through an artificial intelligence infrastructure initiative expected to be worth more than $500 billion. The deal includes a long-term partnership between Nvidia and SK Hynix (SKHY) that will provide the US technology giant a stable supply of next-generation AI memory.Nvidia's shares dropped 5%, the worst performer on the Dow, while SK Hynix slumped 7.5%.TransDigm Group (TDG) agreed to acquire specialty metal maker Prince & Izant from private equity firm Industrial Growth Partners for about $1.07 billion in cash. TransDigm shares advanced 4%.Gold edged up 0.3% to $4,083.90 per troy ounce, while silver lost 0.2% to $58.80 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$BA$KO$MA$META$MSFT$NVDA$PG$QCOM$SKHY$TDG$V$XOM
Update: Equities Mixed Intraday as Markets Await Fed Decision, More Earnings Reports
US Markets

Update: Equities Mixed Intraday as Markets Await Fed Decision, More Earnings Reports

(Updates with latest market prices and developments.)US stocks were mixed intraday amid a sharp pullback in oil prices, as traders prepared for the Federal Reserve's policy decision and mega-cap earnings reports later in the week.The Nasdaq Composite was down 0.6% at 24,834.6 after midday Monday, while the S&P 500 fell 0.3% to 7,390.2. The Dow Jones Industrial Average rose 0.2% to 52,031.4. Among sectors, communication services paced the gainers, while technology saw the steepest decline.West Texas Intermediate crude oil dropped 7.5% to $82.61 a barrel, while Brent slumped 8% to $89.09.US President Donald Trump told Axios on Monday that the US is in "very deep talks" with Iran, though he said military action could resume if diplomacy fails. His remarks came as the US apparently halted strikes against Iran.The US military struck Iran for the 13th straight night on Thursday, with Iran launching its retaliatory attacks across Gulf states. There hasn't been an announcement on fresh US strikes since then.Oman is conducting talks with Iran, but Qatar, Pakistan and Egypt are also actively involved in the process, Axios reported."While this is the first tangible signal of de-escalation, the reasons behind it are less clear," ING Bank said in a report. "There's little explanation from the US. Also, it hasn't yet led to any meaningful pickup in vessel flows through the Strait of Hormuz."Treasury yields were lower intraday, with the 10-year rate down 3.2 basis points at 4.65% and the two-year rate falling 1.3 basis points to 4.32%.The Federal Open Market Committee kicks off its two-day policy meeting on Tuesday, with a decision on interest rates due the following day. The probability of the central bank leaving its benchmark lending rate unchanged currently stands at 62%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool."In our view, in the event of a rate hold there are likely to be dissents with the number hinging on the extent to which the statement language shifts in a hawkish direction," Macquarie said Monday in a report.While the firm expects no change to the federal funds rate this week, it continues to project a hike, most likely in December.Tech giants Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Meta Platforms (META) are scheduled to release their latest financial results later this week, along with Visa (V), Mastercard (MA), ExxonMobil (XOM), Coca Cola (KO), Procter & Gamble (PG), Qualcomm (QCOM) and Boeing (BA).In company news, Nvidia (NVDA) has agreed to expand its partnership with South Korean conglomerate SK Group through an artificial intelligence infrastructure initiative expected to be worth more than $500 billion. The deal includes a long-term partnership between Nvidia and SK Hynix (SKHY) that will provide the US technology giant a stable supply of next-generation AI memory.Nvidia's shares dropped 5.2% intraday, the worst performer on the Dow, while SK Hynix slumped 9.6%.TransDigm Group (TDG) agreed to acquire specialty metal maker Prince & Izant from private equity firm Industrial Growth Partners for approximately $1.07 billion in cash. TransDigm shares rose 3.4% intraday.Gold edged up 0.2% $4,077.40 per troy ounce, while silver lost 0.2% to $58.77 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$BA$KO$MA$META$MSFT$NVDA$PG$QCOM$SKHY$TDG$V$XOM
June Durable Goods Orders Rise Less Than Expected Amid Defense Aircraft Weakness
US Markets

June Durable Goods Orders Rise Less Than Expected Amid Defense Aircraft Weakness

Demand for US durable goods increased less than estimated last month amid declines in orders for defense aircrafts and motor vehicles, government data showed Monday.Orders for tangible items with an average life of at least three years rebounded 0.3% sequentially to $334.77 billion in June, following a 4% decline the month prior, according to the Census Bureau. The consensus was for a 1.8% rise for June in a survey compiled by Bloomberg.New orders for transportation equipment fell 0.2% last month. Demand for defense aircraft decreased 7.2%, following a gain of 8.9% in May, while the civilian aircraft component grew 3.7% in June. The motor vehicles and parts component dropped 0.6%, official data showed.Demand for computers and electronic products rose 3.1%, while several other components also saw gains. Defense capital goods orders nudged 0.5% higher month on month in June, according to the report."Despite a weaker-than-expected headline figure, the details in the June report suggest the US economy remains resilient, with business investment continuing to provide an important pillar of strength," BMO Capital Markets Senior Economist Priscilla Thiagamoorthy said in a note to clients.Earlier this month, data from planemaker Boeing (BA) showed that it booked orders for 121 jets in June, jumping from 27 the previous month and 116 a year earlier.Excluding transportation, durable goods orders increased 0.6% last month, but trailed Wall Street's expectations for growth of 0.8%, according to official data released Monday."For the (Federal Reserve), this becomes a double-edged sword," Thiagamoorthy said. "On one side, strong (capital expenditure) supports economic activity and productivity. On the other, Fed officials have recently noted that the ongoing boom in (artificial intelligence)-related investment may sustain inflationary pressures."Markets are pricing in a 64% probability that the central bank's Federal Open Market Committee will leave it monetary policy unchanged Wednesday, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.Price: $211.47, Change: $+1.95, Percent Change: +0.93%

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Stocks Rise Pre-Bell as US, Iran Pause Strikes; Fed Policy Decision, Inflation Report on Deck
US Markets

Stocks Rise Pre-Bell as US, Iran Pause Strikes; Fed Policy Decision, Inflation Report on Deck

The benchmark US stock measures were pointing higher before the opening bell Monday after the US and Iran halted strikes over the weekend, while traders gear up for a busy week that includes a major policy decision by the Federal Reserve, a key inflation report and earnings.The S&P 500 and the Dow Jones Industrial Average rose 0.8% each in premarket activity, while the Nasdaq increased 1.4%. The S&P 500 and the Dow finished Friday's trading session in the green, while the Nasdaq closed lower.After 13 consecutive nights of strikes against Iran, no US attacks against Tehran were officially announced over the weekend. Iran said it will also halt its attacks as long as the US does the same, a senior Iranian official told Reuters on Sunday.West Texas Intermediate crude oil dropped 6.4% to $83.56 a barrel before the open, while Brent fell 8% to $89.06.The US ambassador to the United Nations Mike Waltz reportedly told Fox News on Sunday that President Donald Trump has paused strikes against Iran to give talks "some space."Iranian Foreign Ministry spokesman Esmail Baghaei said technical talks with Oman on the Strait of Hormuz continued over the weekend, CNBC reported.Meanwhile, Iran summoned Ukraine's charge d'affaires in Tehran on Sunday over an attack on an Iranian commercial vessel in the Caspian Sea, calling it a "hostile and criminal act," according to a separate CNBC report.The Fed's monetary policy committee is scheduled to meet on Tuesday, with a decision on interest rates due the following day. The probability the central bank will leave its benchmark lending rate unchanged currently stands at 69%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.Traders also await the personal income and outlays report for June later in the week. The report includes the personal consumption expenditure core price index, the Fed's preferred inflation metric.Treasury yields were down in premarket action, with the two-year rate retreating 2.6 basis points to 4.31% and the 10-year rate off 3.8 basis points to 5.12%.Monday's economic calendar has the durable goods orders report for last month at 8:30 am ET, followed by the Dallas Fed manufacturing survey for July at 10:30 am.Tech giants Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Meta Platforms (META) are scheduled to release their latest financial results later this week, along with Visa (V), Mastercard (MA), ExxonMobil (XOM), Coca Cola (KO), Procter & Gamble (PG), Qualcomm (QCOM) and Boeing (BA).Shares of Forte Biosciences (FBRX) jumped 39% pre-bell after it agreed to be acquired by Belgian-Dutch immunology firm argenx (ARGX) in a deal worth roughly $2.2 billion. AstraZeneca's (AZN) US-listed stock gained 1.4% after the company reported its latest quarterly results.Gold inclined 0.7% to $4,098 per troy ounce, while bitcoin advanced 1.1% to $65,350.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$ARGX$AZN$BA$FBRX$KO$MA$META$MSFT$PG$QCOM$V$XOM
Wire

Top Midday Stories: Alphabet Doubles Q2 Capital Spending; Tesla Reports Earnings Decline, Negative Free Cash Flow

All three major US stock indexes were down in late-morning trading Thursday, as Alphabet (GOOG) and Tesla (TSLA) stocks were down after the two tech giants announced increased spending in artificial intelligence.In company news, Alphabet reported Q2 earnings late Wednesday of $9.11 per diluted share, up from $2.31 a year earlier, and above the FactSet consensus analyst estimate of $2.88. Q2 revenue was $119.80 billion, up from $96.43 billion a year ago and above the FactSet consensus of $117.06 billion. Alphabet's Q2 capital expenditure doubled year over year to $44.92 billion from $22.45 billion, bringing total capital spending for the first six months of the year to $80.60 billion. The company revised its 2026 capital expenditure forecast to between $180 billion and $190 billion in April, up from its previous estimate of $175 billion to $185 billion. Alphabet shares were down 7% around midday.On Thursday, Alphabet's Google was fined a total of 890 million euros ($1.04 billion) by the European Commission after the regulator found the company violated the Digital Markets Act. The Commission fined Google 460 million euros over its Google Search practices and 430 million euros for restricting app developers from steering users to alternative purchasing channels outside Google Play. The European Commission ordered Google to end the violations within 60 days by treating third-party services fairly in search rankings and allowing app developers to freely communicate and promote offers outside Google Play, with failure to comply resulting in periodic penalty payments of up to 5% of Google's total worldwide turnover. The company said it is reviewing the decision and evaluating all options, including an appeal.Tesla (TSLA) reported Q2 adjusted earnings late Wednesday of $0.33 per diluted share, down from $0.40 a year earlier and below the FactSet consensus analyst estimate of $0.55. Q2 revenue was $28.24 billion, up from $22.50 billion a year ago and above the FactSet consensus of $26.42 billion. Operating expenses jumped 47% on a yearly basis to $4.35 billion and rose sequentially as well. The auto manufacturer ended the quarter with a negative free cash flow as capital expenditures "more than doubled" from the previous three-month period, Chief Financial Officer Vaibhav Taneja said during an earnings call,. The company continues to expect its capital expenditures to be at over $25 billion this year, the CFO added. "[Capital expenditures] will grow for the next two or three years as we expand our Robotaxi fleet, expand our production capacity for Optimus, make investments for semiconductor fab, install solar manufacturing capacity and AI compute infrastructure in addition to all the other expansions we'll do for other manufacturing for automotive," Taneja told analysts. Tesla shares were down 14%.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported Thursday, citing two unnamed sources familiar with the talks. China is also building out data centers, which require not only advanced chips, but also memory chips and central processing units, according to the report. China-based chip buyers are looking to lock in supplies in one- to two-year supply contracts, which do not fix prices, the report said. Intel shares were down 1.8%, while AMD shares were down 2.3%.RTX (RTX) reported Q2 adjusted earnings Thursday of $1.89 per diluted share, up from $1.56 a year earlier, and above the FactSet consensus analyst estimate of $1.66. Q2 net sales were $24.71 billion, up from $21.58 billion a year earlier and above the FactSet consensus of $22.89 billion. The company raised its 2026 adjusted EPS guidance to between $7.10 and $7.25, from the previous range of $6.70 to $6.90. Analysts polled by FactSet expect $6.95. RTX shares were up 7.5%.IBM (IBM) said Thursday that it signed a definitive agreement to acquire research and development institution HRL Laboratories from joint owners Boeing (BA) and General Motors (GM). Financial terms were not disclosed. Boeing and GM will continue to partner with IBM on quantum applications and advanced technology development. HRL's expertise in silicon-spin qubits and quantum sensing will support IBM's quantum computing plans, IBM said. The transaction is expected to close by the end of Q3. IBM shares were up 0.7%, Boeing shares were 0.3% lower, and General Motors shares were down 3.3%.Price: $318.15, Change: $-23.76, Percent Change: -6.95%

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Wire

GE Aerospace Gets National Airlines Commitment to Buy 7 Engines for Boeing Cargo Planes

GE Aerospace (GE) said Thursday that National Airlines has agreed to buy seven engines for its Boeing (BA) cargo airplanes.Financial terms were not disclosed.The company said the order includes one GE90-110B and six CF6-80C2 engines. National Airlines already owns 30 CF6 engines and eight GE90 engines.The GE90 engine family powers all Boeing 777 models..Shares of GE Aerospace were up 2%.Price: $349.41, Change: $+8.04, Percent Change: +2.36%

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Wire

Boeing, Lufthansa Technik Sign Agreement to Support Germany's CH-47F Chinook Helicopter Fleet

Boeing (BA) and Lufthansa Technik Defense signed an agreement outlining their roles in sustaining Germany's new CH-47F Block II Chinook heavy-lift helicopters through a network of parts warehouses to support the helicopters' operating bases, according to a Wednesday statement.No financial details were disclosed.The agreement sets the framework for the project's main contract, under which Boeing will provide its platform knowledge in delivering tailored parts provisioning, transport and warehousing for the German Armed Forces, Lufthansa Technik said.Meanwhile, Lufthansa Technik will provide its logistics expertise and manage the supply of consumables and expendables for the German Chinooks, the company added.Price: $204.96, Change: $+0.16, Percent Change: +0.08%

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Wire

AerCap Places Order for 15 Boeing 787-9 Dreamliners

AerCap (AER) said Tuesday it has placed a direct order for 15 Boeing (BA) 787-9 Dreamliners, expanding its portfolio of the widebody jet to about 140 airplanes.Financial details weren't disclosed.The agreement, announced at the 2026 Farnborough International Airshow, includes substitution rights that allow AerCap to switch to the larger Boeing 787-10 variant.The 15 aircraft, to be powered by GE Aerospace's (GE) GEnx-1B engines, are scheduled for delivery through 2033, AerCap said.Price: $210.99, Change: $+1.51, Percent Change: +0.72%

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Wire

GE Aerospace Venture CFM International to Supply 30 LEAP Spare Engines to BBAM

GE Aerospace's (GE) joint venture CFM International has reached an agreement with aircraft lessor BBAM to supply 30 LEAP-1A and LEAP-1B spare engines for operators of Airbus A320neo and Boeing (BA) 737 MAX aircraft, BBAM said Tuesday.The multi-year order marks BBAM's first direct engine purchase from CFM International and expands its portfolio of CFM56 and LEAP engines.Financial terms of the deal were not disclosed.GE Aerospace shares were up 0.2% in Tuesday trading, while Boeing was up 0.5%.Price: $210.53, Change: $+1.05, Percent Change: +0.50%

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Wire

GE Aerospace Wins Engine Deal for 15 Philippine Airlines 787-10s

GE Aerospace (GE) secured an agreement with Philippine Airlines to supply GEnx-1B engines for 15 new Boeing (BA) 787-10 Dreamliners, including purchase rights covering five additional aircraft.Financial details weren't disclosed.Deliveries of the aircraft are expected from 2031 to 2034, Philippine Airlines said Monday in a statement.Price: $340.87, Change: $-7.96, Percent Change: -2.28%

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Wire

Honeywell Aerospace's APU Portfolio is Under-Appreciated by Investors, RBC Capital Markets Says

Honeywell Aerospace's (HONA) auxiliary power unit, or APU, portfolio is under-appreciated by investors, and the company's strength in the business jet engine market is "substantial," RBC Capital Markets said in a Monday research note.The company has almost 20,900 APUs in service across in-service Airbus and Boeing (BA) aircraft, RBC said, adding that Honeywell Aerospace anticipates growing its total APU portfolio at a compound annual growth rate of 5% through 2030, equaling to about 5,800 additional APU sales.RBC further noted that while the company's share on business jet avionics has declined about 4% since 2015, its engine share has grown by about 4% as well. Honeywell Aerospace's commercial retrofit, modification, and upgrade, or RMU, investments will help offset some of the lost share, according to the note.RBC added that it believes continued supply chain improvement will be a positive for execution sentiment, and that investors are still early in the Honeywell Aerospace discovery phase.Honeywell Aerospace will issue its Q2 financial results on August 5.RBC maintained the company's outperform rating with a $300 price target.Price: $202.34, Change: $-9.29, Percent Change: -4.39%

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Wire

Boeing to Resume Issuing Airworthiness Certificates, FAA Says

Boeing (BA) will be allowed to resume issuing airworthiness certificates at the end of the production process for all 737 MAX and 787 airplanes, effective Monday, the Federal Aviation Administration said Friday.The decision follows months of data and safety review showing consistent production quality, the FAA said, noting it had allowed Boeing to resume issuing certificates for some 737 MAX and 787 airplanes in September 2025, alternating weeks with the agency since then.The FAA said it will continue inspections, audits, and monitoring of Boeing's production system, including assembly activities and compliance with design requirements.FAA Administrator Bryan Bedford said inspectors will continue rigorous oversight while focusing more time on identifying risks earlier in the manufacturing process.Price: $214.72, Change: $+0.38, Percent Change: +0.18%

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