Stocks set to test record highs

FAN Editor

U.S. stock futures were mixed Tuesday as the major averages take another run at record highs.

Dow Jones Industrial Average futures fell 20 points, or 0.06%, while S&P 500 futures and Nasdaq 100 futures edged up 0.11% and 0.38%, respectively. 

Both the Dow and the S&P are within a fraction of their all-time highs. The Nasdaq ended Monday less than 1.9% below its own record peak.

In stocks, Boeing Co. received an order for 34 additional 737 Max jets from Southwest Airlines Co. The order increases Southwest’s total orders for the aircraft to 234 for next year. 

Meanwhile, Clover Health Investments Corp. was in focus as the company has become the latest target for Reddit traders, soaring 32% on Monday. Clover has joined AMC Entertainment Holdings Inc. and GameStop Corp. as so-called meme stocks. 

Elsewhere, Tesla Inc. sold 21,936 vehicles that were made at its Shanghai plant with 11,527 of those being exported outside of China. 

Apple Inc. is in talks with China’s CATL and BYD about supplying the battery for its planned electric vehicle, Reuters reports, citing four people with knowledge of the matter. 

In earnings, Stitch Fix Inc.’s quarterly loss narrowed and the company raised its sales outlook for both the current quarter and fiscal year as shoppers looked to refresh their wardrobes following months of lockdowns. 

In commodities, West Texas Intermediate crude oil declined 53 cents to $68.70 per barrel and gold slid $1.90 to $1,896.90 an ounce. 


Overseas markets were mixed.

European bourses were mostly higher, with Germany’s DAX 30 little changed, France’s CAC 30 advancing 0.16% and Britain’s FTSE 100 up 0.28%. 

In Asia, Hong Kong’s Hang Seng index slipped 0.02%, Japan’s Nikkei 225 lost 0.19% and China’s Shanghai Composite fell 0.54%. 

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