US Stock Indices Open Mixed, Boeing Shares Plummet; Oil Prices Dip, Gold Slides

US Stock Indices Open Mixed, Boeing Shares Plummet; Oil Prices Dip, Gold Slides

VoM News Desk | January 8, 2024 | 10:30 PM IST | Breaking News | Follow on Google News

US Stock Indices Open Mixed, Boeing Shares Plummet; Oil Prices Dip, Gold Slides/AFP

US Stock Indices Open Mixed, Boeing Shares Plummet; Oil Prices Dip, Gold Slides

The US stock market opened with a mixed stance on Monday. The Dow Jones Industrial Average declined by 0.37%, losing 138.74 points to hit 37,327.37. Conversely, the S&P 500 began higher by 0.14%, gaining 6.46 points, reaching 4,703.70. The Nasdaq Composite saw an increase of 0.28%, rising by 40.39 points to hit 14,564.47 during the opening bell.

Boeing shares experienced a significant drop of nearly 9% in early trading following the grounding of some 737 MAX aircraft after an incident involving an Alaska Airlines panel malfunctioning mid-flight.

The yield on the 10-year Treasury slipped to 4.02% from the previous 4.05% late Friday.

In the previous session, US stock indices concluded slightly higher. The S&P 500 closed with a gain of 0.18% at 4,697.05 points, while the Nasdaq Composite rose by 0.09% to reach 14,521.77. The Dow Jones Industrial Average edged up by 0.07% to settle at 37,464.43.

Brent crude fell by 4.2% to $75.38 a barrel, and US West Texas Intermediate crude futures lost 4.7%, reaching $70.29. This came after Saudi Arabia slashed the February official selling price (OSP) of its Arab Light crude to Asia, marking the lowest level in 27 months due to increased supply and competitive dynamics.

Gold prices experienced a decline on Monday due to a strong dollar and higher treasury yields. Spot gold dropped over 1% to $2,023.49 per ounce by 9:41 am ET (1441 GMT), while US gold futures fell by 0.9% to $2,029.80.

VoM News Desk

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