Boeing helped put the first men on the moon. Now it wants to get out of the space race. The beleaguered company is exploring a sale of its storied NASA business, including the troubled Starliner space vehicle and operations that support the International Space Station, according to people familiar with the matter. The effort, part of a strategy by Boeing’s new Chief Executive Officer Kelly Ortberg to streamline the company and stem its financial losses, is at an early stage and might not result in a deal. Boeing faces a deepening financial crisis. Its largest labor union has rejected two contract proposals and extended a strike that has halted most of its airplane production. Meanwhile, Boeing’s space and defense projects have been hobbled by delays and cost overruns. For decades, the company has worked hand-in-glove on big National Aeronautics and Space Administration programs, including the Apollo astronaut missions and creating the space station. In recent years, SpaceX has supplanted Boeing’s role as a top agency partner. NASA recently opted to have two astronauts wait months for a ride back from the ISS on a SpaceX craft after problems emerged on Starliner’s first-ever human spaceflight.

The Swiss market ended slightly up on Friday after a choppy session as investors largely refrained from making significant moves due to a lack of triggers. The benchmark SMI once again moved in a very narrow range. The index closed up 10.96 points or 0.09% after moving between 12,142.92 and 12,197.76. Sandoz Group climbed more than 2%. SIG Group gained 1.33%, and Swatch Group advanced nearly 1%. ABB, VAT Group, Geberit, Julius Baer, Roche Holding, Novartis and Schindler PS gained 0.4 to 0.8%. Holcim ended higher by nearly 0.5% on strong third-quarter results. The company said the US listing of its North American business is on track to complete by the first half of 2025. The company booked net sales of 7.12 billion francs in the quarter, down from 7.34 billion francs a year earlier. SGS closed down 4.1% despite reporting an increase in sales. The company said its sales rose to 1.7 billion francs in the third quarter from 1.64 billion franc in the year-ago quarter. The group also confirmed its full-year 2024 targets, including mid- to high-single-digit organic growth. Straumann Holding ended lower by 1.29% and Swiss Life Holding closed lower by 0.84%. Swiss Re, UBS Group, Sika, Zurich Insurance Group and Nestle closed modestly lower.

Europe
European stocks closed slightly lower on Friday with investors largely reacting to quarterly earnings results, and assessing the outlook for growth in the wake of recent economic data. Persisting worries about tensions in the Middle East and uncertainty about the outcome of the upcoming U.S. presidential election weighed a bit on stocks. Russia's central bank raised its benchmark rate by larger-than-expected 200 basis points and also hinted at another hike next month as inflation expectations increased and additional fiscal spending lifted proinflationary effects. The board of directors, led by Governor Elvira Nabiullina, raised the key rate to 21% from 19%. The pan European Stoxx 600 edged down 0.03%. The U.K.'s FTSE 100 closed down 0.25% and France's CAC 40 ended 0.08% down, while Germany's DAX crept up 0.11%. Switzerland's SMI settled 0.09% up. Among other markets in Europe, Denmark, Greece, Ireland, Russia and Spain ended weak. Austria, Belgium, Finland, Netherlands, Norway, Portugal, Sweden and Turkiye closed higher, while Iceland and Poland ended flat. In the UK market, Lloyds Banking Group shares tumbled more than 7%. Airtel Africa ended down 5.7% following a sharp drop in half-yearly profit. Smith & Nephew, Barclays Group, Aviva, Melrose Industries, Barratt Developments, RightMove, Fresnillo, Entain, Intertek Group and Tesco lost 1 to 3%. Natwest Group closed modestly higher thanks to stronger than expected earnings, and an upward revision in future earnings guidance. Mondi climbed 2.3%. Anglo American Plc, Rio Tinto, Scottish Mortgage, Glencore, Next, Schrodders and Pershing Square Holdings gained 1 to 2%. In the German market, Rheinmetall tumbled 3.25

United States
After ending Thursday's session on opposite sides of the unchanged line, the major U.S. stock indexes turned in another mixed performance during trading on Friday. While the tech-heavy Nasdaq added to yesterday's strong gain, the Dow extended its losing streak to five sessions. The Nasdaq reached a new record intraday high in early trading but gave background over the course of the session before ending the day up 103.12 points or 0.6 percent at 18,518.61. Meanwhile, the Dow slid 259.96 points or 0.6 percent to 42,114.40, pulling back well off last Friday's record closing high. The S&P 500 also edged down 1.74 points or less than tenth of a percent to 5,808.12. The major averages also turned in a mixed performance for the week. The Dow tumbled by 2.7 percent and the S&P 500 slumped by 1.0 percent, but the Nasdaq rose by 0.2 percent. Stocks moved mostly higher early in the session, with the major averages all moving to the upside amid ongoing optimism about the outlook for the economy. Adding to the economic optimism, the University of Michigan released revised data showing consumer sentiment unexpectedly improved in the month of October. The University of Michigan said its consumer sentiment index for October was upwardly revised to 70.5 from a preliminary reading of 68.9. Economists had expected the index to be upwardly revised slightly to 69.0. Airline stocks showed a substantial rebound after falling sharply on Thursday, with the NYSE Arca Airline Index surging by 2.0 percent.

Asia
Firm prices in Japan and otherwise little movement characterized stock market activity in East Asia and Australia on Monday. Oil prices fall sharply after the Israeli retaliatory strike against Iran is considered to have been moderate and rather restrained and oil production facilities were not affected.

Bonds
In the U.S. bond market, treasuries moved to the downside over the course of the session after showing a lack of direction in early trading. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 3.2 basis points to 4.232 percent.

Analysis
UBS lowers Symrise target to EUR 138 (139)/Buy – Traders
Deutsche Bank lowers Temenos target to CHF 65 (58) – Hold
Deutsche Bank lowers BE Semiconductor target to EUR 110 (115) – Hold

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