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profishingrods.com March 19, 2019


Markets Right Now: Stocks close higher on Wall Street

14 March 2019, 11:42 | Joann Bryant

Markets Right Now: Tech stocks lead rally; Boeing hits Dow

Boeing Shares Plunge After Ethiopian Airlines Crash

The company led a slide in industrial sector stocks.

A boost was also imminent from the tech giants after Nvidia made announcements about buying Mellanox Technologies for $6.8 billion.

Boeing Co ended down 6.1 percent and registered its biggest two-day drop since June 2009, as more countries grounded the company's best-selling 737 MAX planes following Sunday's crash, the second fatal crash involving the plane in months.

Although, the Federal Aviation Administration declared the 737 Max 8 airworthy, more regulators have chose to ground the planes, including those in Australia, Singapore and the Middle East.

But once again, the DOW lagged behind, being pulled lower by Boeing (BA).

US stocks opened mostly higher on Wall Street Monday, although a steep drop in Boeing is weighing down the Dow Jones Industrial Average.

Here's something you don't see every day: The S&P 500 rose by 17 points as markets opened this morning, and the Dow Jones Industrial Average fell by 200.

The S&P 500 index gained 8.22 points, or 0.3 per cent, to 2,791.52.

The S&P 500 rose as high as 2,798.32 during the session, just below a key technical level of 2,800.

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




Why? Boeing, a Dow component, fell by 10% in early trading after the second of its new line of 737s crashed shortly after takeoff this past weekend.

The Commerce Department meanwhile reported United States retail sales had recovered slightly after a dismal December.

This, however, comes in the wake of Apple's shares which surged 3.47 percent putting-off some of Boeing's losses.

Monday's U.S. Retail Sales report offered mixed results.

The bank's market value rose by $14 billion, which sounds impressive except for this fact: Apple, a much larger company, saw its market value rise by $24 billion, yet it accounted for less than 1% of the rise in the Dow because the price of its stock didn't change much.

The Dow Jones Industrial Average rose 100 points, or 0.4 per cent, to 25,657. With a 33 point gain, the NASDAQ finished at 7,591.

The S&P 500 index rose 11 points, or 0.4 percent, to 2,795.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.63 percent. 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 Russell 2000 is up 27.95 points, or 1.8 per cent.



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