Boeing’s sliding stock is erasing more than 100 points from the Dow



A report showing that USA consumer prices rose modestly last month - the latest evidence that inflation remains in check - also helped lift stocks. The S&P 500 rose 8.22 points, or 0.3%, to finish at 2,791.52 as health care and utilities stocks led gains, while the Nasdaq Composite Index rose 32.97 points, or 0.4%, to finish at 7,591.03.

Boeing Co fell 3 percent, extending a fall from the previous session as more countries grounded the planemaker's best selling line of jets amid heightened anxiety among travelers about the safety of the plane.

On Sunday, Boeing's 737 Max 8 was involved in its second disaster in five months.

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

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The early gains in the market follow the worst week for the S&P 500 since January.

Here's something you don't see every day: The S&P 500 rose by 17 points as markets opened this morning, and the Dow Jones Industrial Average fell by 200.

OK, but why would Boeing's terrible day affect the Dow so much and not the S&P? Notably, Bank of America, and Merrill Lynchupped Apple's stock to trade from neutral. Kelley also increased his price target to $215 per share up from $172.

Consumer Price Index (CPI) rose 0.2 percent, in line with estimates from economists polled by Reuters. Analyst Mark Kelley, in a note to clients, noted that customers were focusing on messaging and Facebook's stories format. Kelley also hiked his price target to $215 per share from $172.

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Chipmaker Nvidia Corp jumped after entering a $6.8 billion deal to buy Mellanox Technologies Ltd.

Gold for April delivery rose $7, or 0.5%, to settle at $1,298.10 an ounce on Tuesday after losing 0.6% on Monday. Stocks were helped by a US government report showing retail sales rose slightly in January. Stocks were helped by a US government report showing retail sales rose slightly in January after falling in December. The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis, the US Labor Department said on Tuesday.

Dick's Sporting Goods' plunged 11 percent after the company reported a slide in sales during the fourth quarter and a weak forecast.

Further details revealed the drop in December was the biggest since September 2009 when the economy was emerging from recession.

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The dollar fell more steeply shortly after data revealed that the USA 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%.

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