Shares - Boeing Weighs on Dow As Gross sales Knowledge Carry S&P, Nasdaq

Shares - Boeing Weighs on Dow As Gross sales Knowledge Carry S&P, Nasdaq

US stocks closed in a mixed mode on Tuesday, 12 March 2019 led by the health care and utilities sectors, while the Dow Jones Industrial Average retreated as shares of Boeing came under heavy pressure following a fatal crash over the weekend of a 737 Max aircraft. Fifth Third Bancorp rose 1.3 percent.

The Dow Jones Industrial Average rose 200.64 points, or 0.79 percent, to 25,650.88, the S&P 500 gained 40.23 points, or 1.47 percent, to 2,783.3 and the Nasdaq Composite added 149.92 points, or 2.02 percent, to 7,558.06.

About five minutes into the day's trading, Boeing shares were down 11.7 percent at $373.23 following the most recent crash of one of its aircraft in Ethiopia.

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.

USA stocks rose on Tuesday as benign February inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight session pressured the Dow.

April West Texas Intermediate crude rose 8 cents, or 0.1%, to settle at $56.87 a barrel on the New York Mercantile Exchange on Tuesday after trading as high as $57.55.

The S&P 500 opened higher by 4.04 points, or 0.15 per cent, at 2,787.34. That followed the crash of another 737 Max 8 crashed in Indonesia on October 29 that killed 189 people.

The impasse has raised fears of a chaotic "no-deal" Brexit that could disrupt businesses in Britain and the 27 remaining European Union countries.

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Shares in Southwest Airlines sank 2.12 percent while American Airlines lost 0.2 percent, United Continental gave up 0.8 percent. Apple and UnitedHealth each rose 1.1 percent.

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%.

The rose 14 points or 0.52%, while the tech-heavy increased 63 points, or 0.86%.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.63 percent.

The dollar strengthened to 111.29 Japanese yen from 111.21 yen on Monday. Brent crude, used to price global oils, added 70 cents to $67.28 per barrel in London. The euro advanced to $1.1256 from $1.1245.

Bullion prices ended higher at Comex on Tuesday, 12 March 2019.

Advancing issues outnumbered decliners for a 2.18-to-1 ratio on the NYSE and a 1.62-to-1 ratio on the Nasdaq.

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