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Stocks open higher as investors digest Big-Tech earnings and jobs report
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Stocks open higher as investors digest Big-Tech earnings and jobs report

Boeing shares rise after new union deal struck

45 minutes ago

Boeing (nay) shares were gaining ground in pre-market trading on Friday after the plane maker reached a tentative agreement with its auto union on a new contract that could end a seven-week strike.

The International Automobile Association (IAM) is asking its members to approve Boeing’s sweetened offer in a vote on Monday. Their members have been on strike since September 13.

“In every negotiation and strike, there’s a point where we’ve extracted everything we can in negotiations and withholding our labor,” IAM District 751 said Thursday. “We’re at that point now and risk a regressive or lower offer in the future.” .

Workers picket outside a Boeing Co. facility. during a strike in Everett, Washington on September 16, 2024.

M. Scott Brauer/Bloomberg via Getty Images


The new offer includes a 38% across-the-board pay rise over four years, higher than the previous offer of 35%. This “amounts to 43.65% over the life of the agreement”, the union said. The new offer will also give workers the option of a one-time $12,000 ratification bonus; 401(k) contribution; or “a combination of both,” the union said.

The strike was painful for Boeing, that is raising billions of dollars to stop a cash drain. Chief Executive Officer (CEO) Kelly Ortberg, who stepped into the role in August, said in a memo to employees last month that the plane maker plans to lay off about 10% of the workforceor 17,000 workers, “in the coming months” and delay the launch the first 777x plane.

Boeing shares, which rose 2 percent in premarket trading, had lost more than 40 percent of their value this year by Thursday’s close.

Nisha Gopalan

Amazon price levels to watch after further revenue growth

1 hour 38 min ago

Amazon (AMZN) shares rose more than 7% in premarket trading after the company beat Wall Street’s third-quarter earnings estimates.

Shares are poised to break out of a symmetrical triangle following the company’s better-than-expected quarterly report.

Source: TradingView.com.

Investors should watch for key price levels across the board on Amazon’s chart around $200, $242 and $273, while monitoring an important support area in profit-taking periods near $192.

Read in full technical analysis here.

Timothy Smith

Stock futures higher ahead of jobs report

1 hour 58 min ago

Dow Jones Industrial Average futures rose 0.4%.

TradingView


S&P 500 futures also rose 0.4%.

TradingView


Nasdaq 100 futures also gained 0.4%.

TradingView