S&P 500, Nasdaq rise after inflation data, Boeing weighs on Dow

S&P 500, Nasdaq rise after inflation data, Boeing weighs on Dow

S&P 500, Nasdaq rise after inflation data, Boeing weighs on Dow

The Dow Jones airlines index dropped 1.38%, while the broader industrial sector fell 0.44% and was the only major S&P sector in the red.

Further boosting technology shares was the news that Nvidia was buying Mellanox Technologies for $6.8 billion.

BOEING FALLS: The airplane maker is facing fallout from a second deadly crash involving its important 737 Max 8.

Boeing lost 6.1 percent after many countries grounded the Boeing plane involved in the Ethiopian Airlines crash Sunday or banned it from their airspace.

Tumbling shares in U.S. aviation giant Boeing on Monday tore a hole in the Dow Jones Industrial Average, sending the benchmark index into the red for a sixth day.

USA 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.

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On Wall Street, the Dow Jones Industrial Average was set to open slightly lower, with future contracts declining 0.1 percent to 25,625. Up 8 points, the S&P ended at 2,792.

The S&P index recorded 41 new 52-week highs and one new low, while the Nasdaq recorded 38 new highs and 14 new lows.

Briefing.com analyst Patrick O'Hare said Boeing's impact on the Dow was not indicative of the performance of the wider market. January's headline number unexpectedly rose, helped by an increase in purchases of building materials and discretionary spending, but sales in December were much weaker than previously reported.

The Nasdaq composite, which is heavily weighted with technology stocks, climbed 32.97 points, or 0.4 percent, to 7,591.03.

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 Dow fell 36 points, or 0.1 percent, to 25,618. Stocks were helped by a US government report showing retail sales rose slightly in January.

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Cheddar's Scratch Kitchen: Order a homemade chicken pot pie in the restaurant, or one to-go, and receive a second one for free. As you may remember from your old geometry class, 3.14 is the shortened version of the mathematical constant known as pi.

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

Technology stocks powered the market's early gains.

According to the Commerce Department, Retail Sales rose 0.2 percent.

The Dow Jones Industrial Average rose 100 points, or 0.4 per cent, to 25,657. 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.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.63 percent. Facebook rose 2.3 per cent and Morgan Stanley rose 1.3 per cent.

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