* Boeing slips on suspension of 737 Max production
* J&J up nearly 1% on stock upgrade
* November industrial production data due at 9:15 a.m. ET
* Futures up: Dow 0.02%, S&P 0.07%, Nasdaq 0.10%
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By Uday Sampath Kumar
Dec 17 (Reuters) - U.S. stocks were set to open little
changed from record closing levels on Tuesday as investors took
pause from a four-day rally, while Boeing was set for its lowest
open since August after the crisis around its 737 MAX jet
deepened.
Boeing BA.N shares fell 1.1% premarket, set for their
fourth straight session of losses, as the planemaker said it
would suspend production of its grounded aircraft in January in
its biggest assembly-line halt in more than two decades.
The news dulled the mood after three straight days of record
highs for the U.S. stock indexes, spurred by cooling trade
tensions between the world's top two economies and upbeat
economic data from China.
The S&P 500 .SPX has gained over 27% so far this year,
rising in nine of the last 10 weeks, on expectations of a
U.S.-China trade deal, a dovish Federal Reserve and upbeat
economic indicators.
An interim trade agreement was announced on Friday, but some
investors held off on big bets amid skepticism about the lack of
details.
"U.S. stocks could start feeling trade optimism fatigue as
we near the holidays," said Edward Moya, senior market analyst
at online trading broker OANDA in New York, adding that a
significant pullback was unlikely.
At 9:00 a.m. ET, Dow e-minis 1YMcv1 were up just 6 points,
or 0.02%. S&P 500 e-minis EScv1 were up 2.25 points, or 0.07%
and Nasdaq 100 e-minis NQcv1 were up 8.75 points, or 0.10%.
Pfizer Inc PFE.N rose 0.8% after the U.S. Food and Drug
Administration approved the U.S. drugmaker and Astellas Pharma
Inc's 4503.T prostate cancer therapy. Johnson & Johnson JNJ.N gained 0.9% after reports that
Morgan Stanley upgraded the stock to "overweight".
Micron Technology Inc MU.O rose 1.9% after Wedbush raised
its rating on the stock. Other chipmakers including Intel Corp
INTC.O and Nvidia Corp NVDA.O were also up marginally.
While there is no major economic news due this week, a
historic vote in the U.S. House of Representatives, likely to
result in the impeachment of President Donald Trump, poses
another risk for investment decisions in the run-up to the 2020
election.
Focus now turns to industrial production data for November,
due at 09:15 a.m. ET, to gauge the health of the U.S. economy,
which has so far been resilient despite trade tensions.