Boeing has had a rocky first half of 2024, with shares down 30% since the start of the year.

The aerospace giant has been under scrutiny since its latest incident in January, when a door panel blew out midair on its 737 Max 9 operated by Alaska Airlines. The National Transportation Safety Board has an investigation underway and on Thursday, it sanctioned Boeing for “blatantly” violating regulations by sharing information about the investigation.

The Justice Department also said in May that Boeing violated a 2021 settlement that protected it from criminal charges tied to two fatal crashes involving its 737 Max planes. Prosecutors said they are still determining how to proceed.

Meanwhile, Boeing CEO Dave Calhoun was blasted by a Senate panel earlier this month when he answered questions about the company’s safety. Calhoun said in March he’ll step down at the end of the year.

The company’s quarterly earnings report in April showed Boeing was burning cash to try to stabilized production.

— Michelle Fox

The S&P 500 and Nasdaq Composite began Friday’s trading session in the green.

The broad market index and tech-heavy Nasdaq gained 0.1% each. Meanwhile, the Dow Jones Industrial Average was marginally lower.

— Hakyung Kim

U.S. crude oil on Friday traded near a two-month high as fears of war between Israel and the Iran-backed militia Hezbollah grow.

West Texas Intermediate hit an intraday high of $82.72 per barrel, the highest level for the U.S. benchmark since April 30.

Israel and Hezbollah have exchanged an escalating number of attacks across Lebanon’s border in recent weeks, stoking fears that Israel will invade to push the militia back and trigger a direct confrontation with OPEC member Iran that could disrupt crude supplies.

The Pentagon has moved military assets closer to Lebanon to prepare for evacuating Americans, three U.S. defense officials told NBC News.

— Spencer Kimball

Shares of Nike plunged 15% in early trading on Friday morning after the firm posted fourth-quarter revenue of $12.61 billion, which came below the $12.84 billion forecasted by analysts surveyed by LSEG.

Despite reporting an earnings beat, Nike also reduced its full-year guidance, further sending its stock lower.

In response, multiple Wall Street firms downgraded the stock on Friday, including Morgan Stanley, UBS, Stifel, JPMorgan and Raymond James.

“We downgrade our rating to Market Perform from Outperform as we view the F4Q revenue miss and FY25 guide down as indicative of the difficulty NKE is having in driving a turnaround in global demand,” wrote Raymond James analyst Rick Patel.

Similarly, Morgan Stanley analyst Alex Straton cited an extended timeline for improvement, performance volatility and potential further negative EPS revision risks as reasons for her downgrade to equal-weight from overweight.

— Lisa Kailai Han

The core personal consumption expenditures index rose 0.1% month over month. Year on year, it gained 2.6%. Those increases were in line with Dow Jones consensus estimates. The year-on-year increase is also a decrease from the 2.8% advance seen in April.

— Fred Imbert

These are some of the stocks on the move before the bell:

• Nike — Nike shares sank more than 14% after the athletic retailer posted disappointing revenue for the recent quarter and cut its guidance, saying it expects sales to drop 10% in the current period. The company now estimates that fiscal 2025 sales will fall in the mid-single digits.
• Trump Media & Technology — Shares of Trump Media & Technology jumped more than 10% on the heels of the first presidential debate between former president Donald Trump and President Joe Biden. Many viewed Biden’s performance as disappointing.
• Infinera — Infinera shares popped 19%. Nokia announced plans to buy the networking solutions supplier for $2.3 billion.

Read the full list of names on the move here.

— Samantha Subin

The May reading of the core personal consumption expenditures index is slated for release Friday at 8:30 a.m. ET. Economists polled by Dow Jones expect a 0.1% month-over-month increase. Year on year, they see a 2.6% gain.

— Fred Imbert

European stocks were slightly higher Friday as investors look ahead to key inflation data from the euro zone and U.S.

The pan-European Stoxx 600 was up 0.17% in early trade, as the majority of sectors and major bourses traded in the green. Mining stocks rose 0.82%, while household goods dipped 0.5%.

U.S. banks are doing well following Wednesday’s results of the Federal Reserve’s stress test, according to Wells Fargo’s Mike Mayo.

“The Fed threw the kitchen sink at the banks,” the top bank analyst told CNBC’s “Closing Bell.” He added that the hypothetical scenario was “worse” than the 2008 global financial crisis. “U.S. banks are in a very good, resilient place,” he continued.

Mayo also said that the result of Citigroup, in particular, was “a surprise.” Shares of the firm were marginally higher during Thursday’s trading session and are up about 19.7% this year.

— Sean Conlon

In addition to Nike, some lesser-known stocks were also moving after the bell on the back of financial releases.

Health technology stock Accolade fell more than 27%. Despite exceeding expectations of analysts polled by FactSet on adjusted EBITDA and revenue for the first fiscal quarter, the company issued softer-than-expected guidance for the current quarter.

The company said it should see a loss of between $8 million and $10 million in adjusted EBITDA during the quarter, wider than the FactSet consensus forecast of $5.9 million. Accolade also said to anticipate quarterly revenue in the range of $104 million and $106 million, under Wall Street’s estimate of $113.2 million.

On the other hand, American Outdoor Brands climbed more than 8% on strong earnings in its fiscal fourth quarter. The outdoors-focused product maker saw $46.3 million in revenue, while analysts surveyed by FactSet penciled in revenue of just $43.1 million.

— Alex Harring

Retail investors may not be quite as hungry for highly volatile stocks as their reputation implies, according to a survey from eToro.

The brokerage firm’s second-quarter Retail Investor Beat report said that 54% of retail investors reported holding financial services stocks, compared to only 49% holding technology stocks. That has been true in the three previous quarterly surveys as well.

The survey was done in May, after a slight pullback for the market, and eToro US investment analyst Bret Kenwell told CNBC that the dip appeared to impact confidence among younger investors.

“Older investors are letting their experience kind of work in their favor, whereas the younger investors aren’t necessarily scared off … but they’re less experienced in general, and because of it I think they get a little more rattled than the older, seasoned investor,” Kenwell said.

— Jesse Pound

Despite a big earnings beat, Nike shares fell about 11% in extended trading after the company posted its third revenue miss in four quarters and cautionary guidance for its new fiscal year.

Accounting for the drop in after hours, Nike’s stock is down nearly 23% year to date. Only Intel and Boeing have fared worse in the Dow this year.

The weaker consumer environment is weighing on sales, with North America and Asia/Latin America revenues missing Wall Street’s expectations. Chief Financial Officer Matthew Friend remarked in the earnings release that “our fourth quarter results highlighted challenges that have led us to update our Fiscal ’25 outlook.”

— Robert Hum

Stock futures were little changed shortly after 6 p.m. ET.

Dow futures slipped 0.1%, while S&P 500 and Nasdaq 100 futures each inched higher.

— Alex Harring