Boeing decides to shake things up by firing its CEO before Christmas, new record highs and more in Monday’s Closing Bell on Money & Markets.
It may not be a merry Christmas for Dennis Muilenburg, but it will be for Boeing Co. (NYSE: BA) shares.
The biggest financial news the Monday before Christmas was that the aircraft giant has parted ways with its embattled CEO.
As a result, the market climbed along with Boeing stock, whose shares jumped more than 3% through afternoon trading and helped lead the Dow Jones Industrial Average to a 0.4% gain.
Muilenburg was ousted after Boeing announced it was halting production of its most popular 737 Max jetliner in January.
Money and Markets: Closing Bell
S&P 500: 3,224 (+2 points, +0.1%)
DOW: 28,551 (+96 points, +0.3%)
NASDAQ: 8,945 (+20 points, +0.2%)
GOLD: $1,485.27* (+10.57, +0.7%)
BITCOIN: $7,219.21* (-1.12%)
U.S. 10-YEAR YIELD: 1.93%
*as of 4:08 p.m. EST
Precious metals were up across the board in afternoon trading Monday.
Gold jumped 0.7% to $1,485.27 while silver was up 1.4% to $17.47. Platinum gained more than 2.5% to $938.40 while palladium was up nearly 2% to $1,844.70.
Aurora Cannabis Inc. (NYSE: ACB) had a rough day on its stock price dropped 7% and hit a new 52-week low of $2.02 Monday.
The stock dip came after the company announced that chief corporate officer Cam Battley was stepping down and that one of the company directors sold 57% of his holdings, according to Barron’s.
That bad news overshadowed news that the company retired most of its $230 million in convertible notes — three months before those notes came due.
Stock Market Update
It was a relatively quiet day for U.S. markets as the big three experienced slight pre-Christmas bumps.
The S&P 500 closed up 0.1%, to 3,224 points. The Dow Jones Industrial Average climbed 96 points, or 0.3%, to 28,551, and the Nasdaq composite added 0.2%.
TODAY’S BIGGEST WINNERS:
(as of 3:15 p.m. EST)
Apache Corp. (NYSE: APA) +16.8%
Abiomed Inc. (Nasdaq: ABMD) +4.2%
Tesla Inc. (Nasdaq: TSLA) +3.3%
JD.com Inc. (Nasdaq: JD) +2.7%
Boeing Inc. (NYSE: BA) +2.8%
TODAY’S BIGGEST LOSERS:
(as of 3:15 p.m. EST)
Coty Inc. (NYSE: COTY) –4.3%
CarMax Inc. (NYSE: KMX) –3.7%
Willis Towers Watson PLC (Nasdaq: WLTW) –1.8%
Walt Disney Co. (NYSE: DIS) –1.4%
Expedia Group Inc. (Nasdaq: EXPE) –1.7%
Note: We at Money & Markets will be taking the next few days to spend with our families for the holidays. We will have the next Closing Bell on Thursday, Dec. 26. Merry Christmas and happy holidays from the team at Money & Markets.
Check back for the most important news and numbers each day after the Closing Bell, only on Money and Markets.