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Main » USA stocks end mixed; Dow slips | #112641

USA stocks end mixed; Dow slips | #112641

14 March 2019

Stocks closed higher on Wall Street, led by gains in health care and technology companies and giving the market its third straight gain.

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

Boeing Co, the world's largest planemaker and best-performing Dow component this year by a wide margin, ended down 5.3 percent at $400.01, registering its biggest one-day percentage drop since October 29, after many airlines grounded the company's new 737 MAX 8 passenger jet following the second fatal crash involving the aircraft in just five months. This is Boeing's second 737 Max crash in five months.

Boeing weighed down the Dow Jones Industrial Average for a second day as shares in the aircraft maker fell amid safety concerns following another deadly crash involving its most popular plane.

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.

The Dow Jones Industrial Average was hit particularly hard in reaction to steep plunge in Dow component Boeing.

The Labor Department said its Consumer Price Index (CPI) rose 0.2 percent last month, in line with estimates, and in the 12 months through February the CPI rose 1.5 percent, the smallest gain since September 2016. The Nasdaq rose 32 points, or 0.4 percent, to 7,591. A sharp drop in Boeing shares restrained the Dow's advance.

April West Texas Intermediate crude rose 8 cents, or 0.1%, to settle at $56.87 a barrel on the New York Mercantile Exchange on Tuesday after trading as high as $57.55.

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

Pi world record calculation broken by Google employee Emma Haruka Iwao
This is nearly 9 trillion digits more than the previous world record , which was set in November 2016 by Peter Trueb . This experiment consumed 170 terabytes of data and took nearly four months to complete.

The Dow fell 36 points, or 0.1 percent, to 25,618.

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

The rose 14 points or 0.52%, while the tech-heavy increased 63 points, or 0.86%.

Technology and health care stocks did the most to pull the market higher Tuesday.

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

The Dow lost 96 points, or 0.4 percent, to 25,554.

Tilray gained 3.1 percent, while Canopy Growth added 1.4 percent.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.63 percent.

Intel rose 1.5 per cent Wednesday and UnitedHealth Group climbed 2.6 per cent.

USA stocks end mixed; Dow slips | #112641