The Dow Jones Industrial Index sharply dropped as a result early Monday, capping gains in the broader markets.
Further boosting technology shares was the news that Nvidia was buying Mellanox Technologies for $6.8 billion. Boeing's stock lost 5.3 percent on Monday after the second fatal crash involving the newest version of its popular 737 jetliner. - China on March 11, 2019, ordered domestic airlines to suspend commercial operation of the Boeing 737 MAX 8, citing the Ethiopian Airlines crash and another deadly accident of that same model in Indonesia.
Boeing, the heaviest-weighted component of the Dow, slumped 10% amid that China and Indonesia - two of the biggest sales markets for the 737 Max 8 - had ordered it grounded after one crashed shortly after take-off on Sunday.
Shares in iPhone maker Apple, which gained 2.4 percent, were likely to offset Boeing's downward pressure after Bank of America analysts upgraded the company's stock, O'Hare said.
Dynamo Kiev 0 - 5 Chelsea | 14 Mar 2019
Chelsea manager Maurizio Sarri could shuffle his pack as the Blues eye a place in the Europa League quarter-finals. Chelsea have invested heavily in the academy and I'm sure they are going to want to see the fruits of that.
Briefing.com analyst Patrick O'Hare said Boeing's impact on the Dow was not indicative of the performance of the wider market. Microsoft added 1.1 per cent and UnitedHealth Group climbed 2.6 per cent. Stocks were helped by a US government report showing retail sales rose slightly in January after falling in December.
March 12 (Reuters) - U.S. stocks rose on Tuesday after tame inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight day in a row pressured the Dow. The S&P 500 rose 31 points, or 1.1 per cent, to 2,774, while the Nasdaq jumped 116 points, or 1.6 per cent, to 7.525. Stocks were helped by a US government report showing retail sales rose slightly in January. The Russell 2000 index of smaller companies picked up 0.96 points, or 0.1 percent, to 1,549.83.
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 ended with 200 points up afterfalling for more than 200 points last week. Additionally, sales in January increased 2.3 percent from a year ago. Fifth Third Bancorp rose 1.3 percent. Facebook rose 2.3 per cent and Morgan Stanley rose 1.3 per cent.