economy
Why Boeing and Honeywell are rallying
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- S&P 500 and Nasdaq hit new records.
- Nvidia and Corning form a partnership to boost domestic manufacturing of fiber and optical connectivity.
- Nvidia gains options to purchase Corning shares.
- Optimism around a U.S.-Iran deal to end the war and reopen the Strait of Hormuz boosted crude prices and aerospace stocks.
- Honeywell and Boeing rallied on news of a potentially reopened Strait of Hormuz.
- Key earnings reports from Arm Holdings, Coherent, Axon Enterprise, Dutch Bros, McDonald's, and Datadog are expected.
- Economic data including Challenger job cuts, weekly jobless claims, and NY Fed 1-Year Inflation expectations are on the schedule.