How major USA stock indexes fared Tuesday

Andrew Cummings
March 14, 2019

The entire industrial sector and the Dow were dragged down by Boeing. Nvidia was the index's strongest performer after agreeing to buy chipmaker Mellanox. Boeing's stock lost 5.3 percent on Monday after the second fatal crash involving the newest version of its popular 737 jetliner. Authorities in Ethiopia, China, Singapore, Australia and Indonesia are among the countries that have grounded all Boeing 737 Max 8 aircraft.

Another big loss in Boeing pulled the Dow Jones Industrial Average lower for the second day running.

U.S. stocks jumped on Monday as the technology sector led a broad-based rebound following five straight sessions of losses, but a fall in Boeing's shares limited the Dow's advance after a deadly airline crash in Ethiopia. Futures contracts on the Dow Jones Industrial Average Index - where Boeing has the largest weighting - slid as much as 0.7 per cent yesterday after Flight ET302 plunged to the ground minutes after leaving Addis Ababa en route to Nairobi, Kenya, killing all 157 people on board.

The benchmark S&P 500 index gained 8.22 points, or 0.3 percent, to 2,791.52. The Nasdaq, heavily weighted with tech stocks, jumped 149 points, or 2 per cent, to 7,558.

The upbeat start Monday follows the worst week of the year for the S&P 500.

Boeing Co. shares were down another 2 percent in premarket trading Tuesday.

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

USA stocks rose on Tuesday as benign February inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight session pressured the Dow.

ASIA'S DAY: The Shanghai Composite Index rose 1.1 percent to 3,060.31 and Tokyo's Nikkei 225 gained 1.8 percent to 21,503.69. Stocks were helped by a USA government report showing retail sales rose slightly in January.

The S&P 500 index rose 12 points, or 0.4 per cent, to 2,803.

Apple rose 2% and was the biggest boost to the S&P and Nasdaq, after the iPhone maker invited media to a March 25 event where it is expected to launch a television and video service.

The Dow is up 104.42 points, or 0.4 per cent. Data for December was revised down to show retail sales dropping 1.6 percent instead of tumbling 1.2 percent as previously reported. The consumer price index rose a modest 1.5 percent last month from a year ago. Wholesale gasoline fell 1 cent to $1.82 a gallon, heating oil fell less than 1 cent to $1.99 a gallon and natural gas rose 1 cent to $2.78 per 1,000 cubic feet.

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