Markets Right Now: Stocks end mostly higher; Boeing falls

Markets Right Now: Stocks end mostly higher; Boeing falls

Stocks are closing mostly higher on Wall Street, extending gains for the S&P 500 index into a second day.

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. Bank stocks also showed early strength, with Morgan Stanley gaining 1.6 percent. The price-weighted Dow fell as its largest component, Boeing sank another 6.2% after losing 5.3% Monday.

Boeing shares trade down more than 3% early Tuesday after a slew of countries grounded the 737 Max 8 aircraft.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, Mar 8, 2019. Another slide in Boeing weighed on the Dow Jones Industrial Average. While the S&P 500 has gained 1.3% to 2777.37 today, the Russell 2000 has climbed 1.5% to 1,544.35. and the Dow Jones Transportation Average has risen 1.7% to 10,287.41.

The Dow was down 140 points, or 0.55% as of 9:45 AM ET (14:45 GMT). The Nasdaq Composite Index was up 32.97 points, or 0.44 percent, to 7,591.03, Xinhua reported.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.60 percent.

Stocks are moving steadily higher in midday trading on Wall Street, putting the market on track for its third gain in a row.

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Boeing weighed down the Dow Jones Industrial Average for a second day as shares in the aircraft maker fell amid safety concerns over its most popular plane.

Google's parent company Alphabet rose 2.2 percent and Botox maker Allergan rose 2.1 percent.

However the blue-chip Dow pared losses, and all three indexes ended Monday higher boosted by a rally in tech stocks led by Apple Inc. CPI excluding the volatile categories of food and energy - considered by many to be a strong indicator of underlying inflation - rose 2.1% year-over-year, slower than the 2.2% pace anticipated.

Boeing Co, the best performing Dow component this year by a wide margin, tumbled 10.7 percent, and was on pace for its worst day in almost two decades after many airlines grounded the company's new 737 MAX 8 passenger jet.

Google's parent company Alphabet added 1.3 per cent in the first few minutes of trading Wednesday.

Over the last 12 months, the all items index increased 1.5 percent before seasonal adjustment, said the department.

The big USA manufacturer slipped for a second day as the fallout from a second deadly crash in recent months involving its 737 Max 8 aircraft spread further.

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