A
trader
works
on
the
floor
at
the
New
York
Stock
Exchange
on
Dec.
4,
2023.
Brendan
Mcdermid
|
Reuters
U.S.
stock
futures
were
flat
Monday
night
after
the
Dow
Jones
Industrial
Average
surpassed
38,000
for
the
first
time
ever.
Dow
futures
fell
11
points,
or
0.03%.
S&P
500
futures
rose
0.03%,
while
Nasdaq
100
futures
gained
0.09%.
In
extended
trading,
United
Airlines
rose
more
than
6%
after
reporting
strong
fourth-quarter
results.
However,
the
airline
operator
said
it
expects
a
first-quarter
loss
from
the
grounding
of
Boeing
737
Max
9
airplanes,
the
model
involved
in
the
Alaska
Airlines
emergency
earlier
this
month.
At
its
Tuesday
earnings
call,
United
will
likely
field
questions
about
the
grounding
and
any
compensation
from
Boeing.
Shares
of
other
airline
operators
rose
in
tandem
with
United.
American
Airlines
and
Southwest
Airlines
each
added
about
3%.
Alaska
Air
Group
and
Delta
Air
Lines
climbed
roughly
2%
each.
Monday
was
a
notable
trading
session
for
the
major
averages.
The
30-stock
Dow
advanced
more
than
100
points,
or
0.4%,
to
hit
a
new
record
and
close
above
38,000
for
the
first
time.
The S&P
500 rose
0.2%,
also
hitting
a
new
all-time
high.
The Nasdaq
Composite gained
0.3%.
Those
moves
add
to
the
S&P
500’s
advance
after
the
broad
market
index
officially
reached
bull
market
territory
on
Friday,
topping
both
its
previous
intraday
and
closing
all-time
highs
from
January
2022.
But
investors
are
deliberating
how
long
the
gains
can
persist,
especially
as
the
rally
this
year
has
centered
around
tech
stocks
such
as
Nvidia,
while
broader
participation
has
continued
to
disappoint.
This
month
alone,
Nvidia
is
up
20%.
In
contrast,
the
small-cap
Russell
2000
is
lower
by
2%.
“The
market
is
priced
to
perfection
right
now,
I
mean,
we
just
hit
all-time
highs
today,”
Cheryl
Young,
private
advisor
at
the
Rockefeller
Global
Family
Office,
said
on
CNBC’s
“Closing
Bell”
on
Monday.
“So,
any
kind
of
shocks
could
cause
some
pretty
big
pullbacks
here.
So,
I
still
love
most
of
these
Magnificent
Seven
names,
but
I’m
adding
protection
right
now.”
Corporate
earnings
season
continues
this
week.
On
Tuesday,
Johnson
&
Johnson,
Procter
&
Gamble
and
Lockheed
Martin
are
set
to
report
before
the
open.
Netflix
will
release
results
after
the
close.
