According to the U.S. Bureau of Labor Statistics, consumer prices rose a seasonally adjusted 0.2% in December, slightly below economist forecasts. The report offered limited relief to traders fretting over the Federal Reserve’s next policy decision, particularly as the central bank grapples with a Justice Department criminal investigation involving Chair Jerome Powell. On Monday, equity markets shrugged off news of the probe and rallied to all-time highs.
Geopolitics also remained in focus after former President Donald Trump warned that any country conducting business with Iran would face a 25% tariff. The statement raised questions about potential ramifications for multinational corporations, especially Chinese firms that import significant volumes of Iranian crude.
While Boeing led industrial names, the technology sector showed mixed performance. Microsoft Corp. announced a five-point program designed to offset the environmental and economic impact of its rapidly expanding artificial-intelligence data-center network. The plan calls for replenishing more water than the company consumes, broadening the local tax base in host communities, creating jobs, funding workforce training in AI and increasing transparency around operations.
Microsoft shares fell more than 1% as investors continued to rotate out of several mega-cap technology names commonly referred to as the “Magnificent Seven.” Marks noted that Amazon.com and Apple were exceptions to the pullback, while most other group members, including Microsoft, remained under pressure amid a broader shift toward cyclicals.
Despite the broader market’s caution, optimism surrounding Boeing’s order book helped extend its winning streak. Commercial aircraft deliveries have climbed steadily after groundings and supply-chain disruptions earlier in the decade, and the company’s net new orders outpaced those of Airbus through the end of December. The favorable order balance cemented Boeing’s status as the top seller in 2023, reversing a five-year stretch in which its European rival held the advantage.
Imagem: Internet
Even so, elevated valuations are drawing attention. Technical gauges such as the relative strength index (RSI) have moved near levels considered overbought, prompting some analysts to warn that the shares could be vulnerable to profit-taking. Marks emphasized that the stock’s sharp three-month rally warranted caution, though no immediate fundamental setbacks were identified.
Looking ahead, investors will monitor Boeing’s upcoming earnings release for details on production cadence, cash-flow targets and progress on regulatory matters related to the 737 MAX. The company remains in discussions with the Federal Aviation Administration over certification timelines for additional MAX variants, a factor that could influence delivery schedules and revenue recognition in future quarters.
For the wider market, attention shifts to a busy calendar of corporate results and economic indicators later in the week. Bank of America, Citigroup and Wells Fargo are slated to report earnings, offering further insight into credit conditions and consumer demand. On the economic front, updates on producer prices and retail sales are expected to shape expectations for the trajectory of interest rates.
Market participants will also evaluate potential fallout from Trump’s tariff proposal, particularly for energy companies and global manufacturers with exposure to Iran-related trade flows. Any escalation could alter supply chains and commodity prices, adding another layer of uncertainty to an environment already influenced by inflation data and central-bank policy.
In the meantime, Boeing’s record-setting move underscores renewed confidence in the civil-aviation cycle, even as short-term technical indicators flash warning signs. Whether the stock can sustain its momentum may depend on balancing robust demand for new aircraft against investor sensitivity to valuation metrics and broader macroeconomic trends.
Crédito da imagem: CNBC
