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Home / Business / Dow Jones Futures: Tesla Deliveries Miss Views; Boeing stock up on the Boeing 737 Max Software Test

Dow Jones Futures: Tesla Deliveries Miss Views; Boeing stock up on the Boeing 737 Max Software Test



Dow Jones futures rose modestly late Wednesday along with S&P 500 futures and Nasdaq futures. Tesla (TSLA) reported Q1 deliveries little points of view. While the bulls and bears debated the Tesla supplies, they came too late for the afternoon Tesla stock trading. Meanwhile, the Boeing share gave the Dow Jones futures a boost after the aviation giant claimed a successful test of new Boeing 737 Max software. Southwest Airlines (LUV) and American Airlines (AAL), which has most Boeing 737 Max jet aircraft from US hauliers, grew modestly late.




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Dow Jones Futures Today

Dow Jones futures increased 0.2% against fair value. Boeing (BA) is the largest weight on the price-weighted Dow Jones Industrial Average. S & P 500 futures climbed 0.1%. Nasdaq 100 futures were up 0.2%. Keep in mind that takeover action in Dow futures and elsewhere does not necessarily translate into actual trading in the next ordinary stock market session.

Current Stock Market Collection

Nasdaq led a strong morning rally, led by chip stocks. The large averages were faded in the afternoon, with the Dow Jones and the S & P 500 index briefly turning negative before being tightened into tight. Nevertheless, the current stock market rally ended at record highs.

VanEck Vectors Semiconductor ETF (SMH) nailed 2.3% to a new amount of closure. The Philadelphia semiconductor index, or Philly Sox, hit record high.

Among the top ETFs, the Innovator IBD 50 ETF (FFTY) managed 0.5%, still in the shopping range from a 33.58 cup-with-handling entry. [19659005] Tesla deliveries

Tesla deliveries came in at 63,000 for the first quarter, well below estimates for about 76,000-78,000. It includes 50,900 Tesla Model 3 sedans. Deliveries of the aging, but more expensive, Tesla Model S and Model X were only 12,100, down 56% compared to the previous quarter.

The company stuck on the full-year forecast for 360,000-400,000 vehicle deliveries in 2019. [19659007] Tesla said that some 10,600 cars were "in transit", referring to logistics problems in freight to Europe and China, where there were neat model 3 requirements.

However, actual production was 77,100 vehicles, down 11% against Q4. If demand was really robust, why should the pioneer of luxury electric vehicles reduce production?

Tesla demand was expected to fall in the first quarter, especially in the US, as demand summary was lost and federal tax credits halved to $ 3,750.

Tesla has beaten car prices three times in 2019, another sign of weakness. demand. It includes a long-awaited $ 35,000 model 3, but it is unclear whether any model 3 sedans have actually delivered.

CEO Elon Musk admitted last month that Tesla was unlikely to earn a profit in the first quarter.

Tesla Stock Priced In Bad News?

Are investors priced in bad news about Tesla's deliveries and demand? The Tesla share has fallen significantly since a breakout failed at the beginning of December, although the broader stock market collapsed. The shares have risen since March 25, climbing 2.1% Wednesday to complete just below their 50-day moving average.

Nevertheless, the relative strength line is close to five years' decline, reflecting the Tesla warehouse's underperformance compared to S & P 500. [19659007] The company released the delivery figures in the first quarter after kl. 20.00 ET, so that the Tesla share has not had the opportunity to react.

Elon Musk and the SEC square are in court over the authority's claims that he violated an agreement at the end of 2018 by tweeting without obtaining company approval.

Boeing 737 Max Software Test

Boeing CEO Dennis Muilenburg joined a Boeing 737 Max test aircraft for updated MCAS anti-stall software. "The software update worked as designed," the company said.

Final software resolution is an important step towards getting the Boeing 737 Max back into operation. But the FAA and other countries will probably take weeks or months before logging off. The FAA creates a joint working group with NASA and foreign aviation authorities to review the Boeing 737 Max software, the agency said Wednesday.

Meanwhile, Boeing 737 Max orders are underway.

Boeing Stock Technical Test

Boeing stock emerged in late trading, rising 2.1% to 392.90 after rising as high as 399. That would push Boeing stock close to its 50-day moving average . The Boeing share fell 1.5% to 384.74 in Wednesday's increase.

Southwest Airlines share rose 1.6% late and American Airlines share 1%. Southwest Airlines recently announced important first-quarter values, driving Boeing 737 Max grounding and other factors.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more. [19659007] You can also:

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