The stock market themes for 2024 are already taking shape, although the new year is just half over.
There is growing skepticism among investors over the timeliness of the Federal Reserve's interest rate reduction. The unemployment rate in December was somewhat higher than predicted, while top-line inflation rose again in January, with the Consumer Price Index rising to 3.4% from 3.3% a year ago.
The Dow Jones Industrial Average remained relatively unchanged, rising by only 0.06% as of January 11, eight trading sessions into the year 2024. To determine which of today's three Dow-performing stocks are worth purchasing, let's examine their performance.
1. Boeing (down 14.6 percent) The fact that Boeing (NYSE: BA) ranks first is likely not shocking. The plane maker is in the middle of yet another controversy following last week's mid-flight panel blowout on an Alaska Airlines Boeing 737.
To protect its image, Boeing has entered damage-control mode; yet, following two accidents in as many months in 2018 and 2019, the business grounded its 737 MAX aircraft for a number of months.
Boeing will certainly increase spending to strengthen quality assurance, handle reputational issues, and cope with regulatory scrutiny in the wake of the most recent catastrophe, the exact impact of which is yet unknown to the company's bottom line. The possibility of more revenue loss to competitor Airbus exists.
Following the 2019 grounding of its 737 MAX jets, Boeing saw a precipitous drop in income. Sales have been on the upswing recently, although they're still significantly lower than they were before the collapses.
That recovery is probably going to take a hit with the most recent emergency landing by Alaska Airlines. Boeing stock is probably not a good investment right now because the corporation is sure to come under further scrutiny after the most recent event.