Economy

Markets Right Now: Stocks end mostly higher; Boeing falls

Markets Right Now: Stocks end mostly higher; Boeing falls”

The broader industrial sector was down 0.77 percent and the only major S&P sector in the red.

Boeing briefly dipped, but finished slightly higher, after the USA said it was joining other countries in grounding the company's 737 Max 8 airplane following a fatal crash of an Ethiopian airliner over the weekend. - China on March 11, 2019, ordered domestic airlines to suspend commercial operation of the Boeing 737 MAX 8, citing the Ethiopian Airlines crash and another deadly accident of that same model in Indonesia.

OK, but why would Boeing's very bad day affect the Dow so much and not the S&P?

Stocks are opening mostly higher on Wall Street, led by gains in technology companies and banks. Another slide in Boeing weighed on the Dow Jones Industrial Average.

The Dow Jones airlines index dropped 2 percent, while the S&P industrials index fell 0.9 percent.

Technology stocks were among the biggest gainers, with Apple (NASDAQ:) up 2.2%, Facebook (NASDAQ:) gaining 2.5% and Amazon.com (NASDAQ:) rising 1.1%. And there are those that won't be comfortable until the S&P 500 finally breaks through resistance between 2,800 and 2817. The price-weighted Dow fell as its largest component, Boeing sank another 6.2% after losing 5.3% Monday. January's headline number unexpectedly rose, helped by an increase in purchases of building materials and discretionary spending, but sales in December were much weaker than previously reported.

The dollar fell more steeply shortly after data revealed that the US consumer-price index climbed 0.2% in February, matching market expectations, while the cost of living over the past year slowed again to 1.5% from 1.6%.

Apple is up 3.2 per cent after an analyst upgraded the stock, while Nvidia is gaining 4.7 per cent after announcing an acquisition. Stocks were helped by a USA government report showing retail sales rose slightly in January.

Technology and health care stocks did the most to pull the market higher Tuesday.

The Dow ended with 200 points up afterfalling for more than 200 points last week.

ENERGY: Benchmark U.S. crude rose 55 cents to $57.34 per barrel in electronic trading on the New York Mercantile Exchange. Fifth Third Bancorp rose 1.3 percent. Additionally, sales in January increased 2.3 percent from a year ago. Wholesale gasoline fell 1 cent to $1.82 a gallon, heating oil fell less than 1 cent to $1.99 a gallon and natural gas rose 1 cent to $2.78 per 1,000 cubic feet.



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