Markets Right Now: Stocks end mostly higher; Boeing falls

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

Markets Right Now: Stocks end mostly higher; Boeing falls

Apple climbed 1.6 percent on Tuesday and boosted markets, after the iPhone maker invited media to a March 25 event where it is expected to launch a television and video service.

Boeing fell 6.8 per cent after a second deadly crash involving one of its new 737 Max planes.

Trader Jeffrey Vazquez works on the floor of the New York Stock Exchange, Tuesday, March 12, 2019.

The Dow Jones Industrial Average rose 148 points, or 0.6 per cent, to 25,702. The S&P 500 rose 8.22 points, or 0.3%, to finish at 2,791.52 as health care and utilities stocks led gains, while the Nasdaq Composite Index rose 32.97 points, or 0.4%, to finish at 7,591.03.

The Dow is up 104.42 points, or 0.4 per cent.

The price of gold rose 7 cents to $1,291.10 an ounce, silver rose 14 cents to $15.41 an ounce and copper rose 3 cents to $2.93 a pound.

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%.

Stocks are moving steadily higher in midday trading on Wall Street, putting the market on track for its third gain in a row. That snapped a five-day losing streak for the S&P, which was coming off its worst weekly stumble this year.

The FAA and Boeing stand by the airworthiness of the airplane.

The S&P 500 rose 13.4 points, or 0.5 per cent, to 2,756.

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

The S&P 500 and Nasdaq eked out gains at open on Monday as February's benign inflation data supported the Federal Reserve's "patient" approach towards further rate hikes, while a second day of losses in Boeing pressured the Dow.

Google's parent company Alphabet added 1.3 per cent in the first few minutes of trading Wednesday. London's FTSE 100 was also flat, at 7,156, while the pound dropped a sharp 1 percent on expectations that the latest version of Britain's Brexit deal with the European Union will be voted down by lawmakers on Tuesday. The airline maker fell 5.3 percent after a plane crash on Sunday that involved the 737 MAX 8 jet.

Airline stocks took a hit with the Dow Jones airlines index dropping 1.43 percent.

The Boeing loss restrained gains in the Dow, which rose 79 points, or 0.3 per cent, to 25,529. The blue chip Dow Jones Industrial Average finished at 25650.88, up 200.64 or +0.78% and the tech-based NASDAQ Composite closed at 7558.06, up 149.92 or +2.01%.