The panel blowout on Boeing’s (BA) plane last weekend sent shares below $230 on Monday. BA stock found support at around $227 on the 50-day simple moving average. Speculators piled on American Airlines (AAL) stock. Expect BA stock to struggle as the investigation continues. AAL stock may fall in the coming days as investors take profit.
Tech stocks are the biggest movers today as The 2024 International Consumer Electronics Show starts at noon through Friday, Jan. 12, 2024. Ahead of the event, Apple (AAPL) whose shares peaked at $199.62, announced its US Vision Pro launch date. CEO Tim Cook said that the “era of special computing has arrived.”
The company is accepting pre-orders for the device. The Pro starts at $3,499 for $256GB in storage. Customers may add $99 for the readers and $149 for the version that supports prescription lenses.
In the cryptocurrency sector, Coinbase (COIN) needs higher buying volume. Shares peaked at $187.39 as COO Emilie Choi sold 8,000 shares for $173.30 on Jan. 2. This is under the Rule 10b5-1 trading plan. Markets eagerly await the SEC to approve a spot bitcoin exchange-traded fund.
Marathon (MARA) and Hut 8 (HUT) are sharply lower from their peak in late December 2023. The share price of both found support at key moving averages. It needs the SEC bitcoin approval to renew the broad crypto miner’s rally.