Stocks close mixed as Boeing weighs on Dow
Stocks closed mixed as Boeing shares extended losses, hammering the Dow Jones Industrial Average, while the S&P 500 and the Nasdaq Composite ended higher.
A growing number of countries and airlines are suspending use of the plane-maker’s 737 Max jets as the Chicago-based manufacturer struggles to contain the fallout from two fatal crashes in the last five months involving the company's most popular jetliner.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 166.81 | +2.48 | +1.51% |
The Federal Aviation Administration on Monday said it had no immediate plans to ground the aircraft and several U.S. airlines still operate the jet. Still, the number of foreign airlines that have suspended operations of the plane is growing.
Investors also digested the latest inflation data and digested the U.K. Parliament's defeat of the latest Brexit deal.
Boeing shares ended the day in correction territory.
In economic news, U.S. consumer prices rose in February, but the pace of the increase was modest, resulting in the smallest annual gain in nearly 2-1/2 years.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 38085.8 | -375.12 | -0.98% |
| SP500 | S&P 500 | 5048.42 | -23.21 | -0.46% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15611.759799 | -100.99 | -0.64% |
The Labor Department said on Tuesday its consumer price index (CPI) increased 0.2 percent, lifted by gains in the costs of food, gasoline and rents. The CPI had been unchanged for three straight months.
Shares of tech and energy companies led gainers.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DVN | DEVON ENERGY CORP. | 52.62 | +0.53 | +1.02% |
| APA | APA CORP. | 32.36 | +0.31 | +0.97% |
| DVN | DEVON ENERGY CORP. | 52.62 | +0.53 | +1.02% |
| ALGN | ALIGN TECHNOLOGY INC. | 310.50 | -3.28 | -1.05% |
In Asian markets on Tuesday, China’s Shanghai Composite gained 1.1 percent, following the Wall Street rally with gains helping by continued optimism about a trade deal between China and the U.S. Hong Kong‘s Hang Seng index was up 1.5 percent and Japan’s Nikkei ended the day up 1.8 percent to a six-day high.
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In Europe, the major markets closed mixed. London’s FTSE added 0.3 percent, Germany’s slipped 0.2 percent and France’s CAC was up 0.1 percent.
FOX Business' Ken Martin contributed to this report.