U.S. stock futures were slightly lower Monday morning as the final week of March kicked off. All three major benchmarks reached new all-time highs last week and are on track for their fifth consecutive month of gains. Investors are eagerly awaiting the government’s release of February personal income and spending data on Friday, which includes the Federal Reserve’s preferred inflation gauge, the personal consumption expenditures (PCE) index.
In other news, the European Union has launched an investigation into tech giants Apple, Meta Platforms, and Alphabet. The probes focus on issues such as “steering” and the use of personal data for advertising. Meanwhile, Boeing announced a management shakeup with CEO Dave Calhoun set to step down at the end of 2024.
Barclays upgraded Disney to buy and raised its price target, citing a positive outlook following a recent “narrative reset.” United Airlines saw its shares drop after the FAA announced increased oversight due to safety concerns. Foot Locker received an upgrade from Evercore ISI, while Mizuho downgraded Tesla and other electric vehicle companies.
Masimo’s stock surged after being upgraded to overweight, and JPMorgan initiated coverage on Supermicro with an overweight rating. Overall, the market is buzzing with activity and investors are keeping a close eye on these top 10 developments for Monday, March 25.
