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Home / Business / Boeing's stock weighs on Dow, while wider market records are modest gains

Boeing's stock weighs on Dow, while wider market records are modest gains



U.S .. shares moved the message higher at the beginning of trading Tuesday, with the exception of the Dow, which remained under pressure as a fatal aircraft crash of a Boeing Co. flight over the weekend weighed on the blue-chip index.

How about big indexes?

Dow Jones Industrial Average

DJIA, -0.08%

fell 39 points, or 0.2% to 25,611, S & P 500 index

SPX, [0.42%] added 5 points, or 0.2% to 2,789. Nasdaq Composite

COMP, + 0.40%

however, increased 10 points to 7,568, a gain of approx. 0.1%.

Read: Why a struggle with small hole winnings could be a red flag for stock market rule

What drives the market?

S & P and Nasdaq edged higher Tuesday, eventually three main goals broke a five-day tap line on Monday, although Dow started the day on negative territory due to the battles of its biggest component, Boeing Co.

BA, -5.00%

Wall Street investors waited for a decisive vote in London after U.K. Prime Minister Theresa May secured concessions over Brexit from the EU. The Storting was decided to vote later on Tuesday on her revised agreement to leave the EU within a deadline for March 29th. The threat of a so-called hard Brexit, where the country leaves Europe's trading block without agreement, was able to roil markets here and abroad.

On Monday, investors focused on analyst upgrades to shares on Apple Inc .

AAPL, + 1.70%

and a multibillion-dollar technology fusion in Nvidia Corp .

NVDA, + 0.46%

and Mellanox Technologies Ltd.

MLNX, + 0.27%

to capture a losing knit. In this way, investors shook off worries caused by a fatal accident on the Boeing 737 Max 8 plane, resulting in 157 people near Ethiopia's capital, Addis Ababa, dying and raising concerns about aircraft systems within this model.

Although the Federal Aviation Authority declared the 737 Max models airworthy, several regulators have decided to back the plans, including those in Australia, Singapore and Latin America, according to The Wall Street Journal.

Separately, reports on progress on a Chinese-US trade agreement, with China and the United States reportedly reporting close currencies, report an element in their broader trade conflict.

What data and speakers are in focus?

] The consumer price index rose by 0.2% in February after three months without change, the Ministry of Labor said Tuesday. Core prices, which eliminate volatile changes in the cost of food, increased by 0.1%.

Last year, total inflation fell from 1.6% in January to 1.5%, while annual core inflation fell from 2.2% to 2.1%.

Federal Reserve Gov. Lael Brainard spoke earlier on Tuesday at the National Economy Reinvestment Coalitions Just Economy Conference in Washington, D.C., on the subject of reforming the rules of the reinvestment law.

Earlier on Tuesday, the National Federation of Independent Business said its small business optimism index higher in February after beating in January the worst levels since the presidential election in 2016. The optimization index increased 0.5 points to 101.7, with 5 of the 10 components increasing, led by a 5-point gain in those who expect the economy to improve. However, it was the second worst reading since December 2016.

What other shares are in focus?

Stocks on Boeing were down 4%, having fallen 5.4% on Monday. Dick's Sporting Goods Inc.

DCS, -9.35%

shares were in focus Tuesday, after the dealer reported a 6.3% decline in fourth-quarter sales, better than analysts expected, while also making profit estimates. The share fell 7.7% early Monday.

Shares of Tesla Inc .

TSLA, -2.63%

was active by lawyers of the electrician's CEO Elon Musk, defended a recent tweet from the incredible leader, accusing the Securities and Exchange Commission of overreaching and violating Musk's right to free speech. Stocks in the company fell 2.4%

Hewlett Packard Enterprise Co. .

HPE, -3.09%

share fell 2.7% Monday morning after UBS Group AG

UBS, + 0.13%

downgraded the shares, and cited headwinds for the growth of its cloud industry.

Stocks of F5 Networks Inc .

-6.96%

is also under pressure due to downgrade, after JP Morgan cut its stock valuation, which was 6.8% Monday.

What are strategists who say?

"Brexit and Boeing are the main drivers for headlines this morning," wrote Paul Hickey of Bespoke Investment Group, in a note to clients.

"Regarding Brexit, while things looked promising beyond today's vote after last night's deal between PM May and EU President Juncker, reality has settled overnight, and the prospect of the agreement giving a vote in parliament doesn't look quite promising at this point, "he wrote.

"Boeing continues to be a great story this morning when the stock is down" after several national regulators have founded all the 737 max aircraft, he noted.

"In economic news, NFIB Small Business Optimism Survey increased against January, but came in easier than expected, while the CPI was fully in line with forecasts on both the headline and core," Hickey wrote.

How did US stocks go yesterday?

On Monday rose rose 200.64 points, or 0.8% to 25.650.88. The Blue-chip index had dropped more than 200 points earlier in the session.

S & P 500 got 40.23 points, or 1.5% to 2,783.30, with information technology sector up 2.2%. The Nasdaq Composite Index climbed 149.92 points, or 2% to 7.558.06, recorded its best day with a percentage since January 30.

How do other markets trade?

Stock markets in Asia rallied Tuesday, with Japan's Nikkei 225

NIK, + 1.79%

Hong Kong's Hang Seng Index

HSI, + 1.46%

and China's Shanghai Composite Index

SHCOMP, + 1.10%

all add more than 1%.

European shares, meanwhile, traded lower, like the Stoxx Europe 600

SXXP, -0.02%

was down 0.1% Tuesday.

In the commodity markets, the price of crude oil

CLJ9, + 1.11%

increased solidly. The price of gold

CLJ9, + 1.11%

meanwhile edged higher while the US dollar

DXY, -0.17%

lost ground to their peers.

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