Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%), Nasdaq Composite (+0.5%), and DJIA (+0.5%) trade in a stable range just before midday. 

The energy sector (+1.0%) is now the top-performing S&P 500 sector, supported by a $0.72 (+1.2%) increase in the price of oil to $60.87. 

The industrials sector (+0.9%) is not far behind, but a loss in Boeing (BA 214.34, -9.00, -4.03%) following its Q3 earnings report somewhat limits the gains. 

As expected, the company posted another large loss—its 17th consecutive quarterly loss—which was larger than expected due to a $4.9 billion non-cash charge. However, revenue rose a robust 30.4% year-over-year to $23.27 billion, topping expectations and fueled by 160 commercial deliveries.

The 777X program remains the main disappointment, as certification has been delayed again, pushing first delivery to 2027. While no major technical issues have emerged, the lengthy certification process continues to frustrate investors.