Stocks end mostly higher; Boeing falls

Boeing Shares Plunge After Ethiopian Airlines Crash

Boeing Shares Plunge After Ethiopian Airlines Crash

Even with Tuesday's losses, Boeing's stock price remained the highest in the index, at $385.

The S&P 500 opened higher by 4.04 points, or 0.15 per cent, at 2,787.34.

The Dow Jones Industrial Average was down 96.22 points, or 0.38 percent, to 25,554.66 on Tuesday.

Why? Boeing, a Dow component, fell by 10% in early trading after the second of its new line of 737s crashed shortly after takeoff this past weekend. By comparison, Boeing commands the 15th-biggest weighting of S&P 500 names. Conversely, the industrials and consumer staples sectors underperformed.

Boeing lost 6.1 percent after many countries grounded the Boeing plane involved in the Ethiopian Airlines crash Sunday or banned it from their airspace. The decisions come amid worries about flight systems in Boeing's 737 Max models following the weekend crash, which resulted in the death of 157 people near Ethiopia's capital, Addis Ababa.

Britain's Prime Minister Theresa May battled to win support for her plans for an orderly Brexit, but Attorney General Geoffrey Cox dealt a blow saying the assurances she had been given still meant the United Kingdom could be locked in the bloc's orbit after Brexit.

The dollar strengthened to 111.29 Japanese yen from 111.21 yen on Monday. Both currencies saw muted reaction, with traders having mostly priced in the outcome. CPI excluding the volatile categories of food and energy - considered by many to be a strong indicator of underlying inflation - rose 2.1% year-over-year, slower than the 2.2% pace anticipated.

A worker stands near the screen showing the Korea Composite Stock Price Index (KOSPI) at the Korea Exchange in Seoul, South Korea, Tuesday, March 12, 2019. The Nasdaq rose 39 points, or 0.5 per cent, to 7,579. In electronic trading after the settlement, gold futures touched highs above $1,302, edging slightly higher after the Brexit vote.

The Dow Jones Industrial Average rose 100 points, or 0.4 per cent, to 25,657. Signs of a supply crunch lingered and traders assessed the latest monthly USA government price and output forecasts and allowed recent comments from energy officials to hold.

It was the second time in half a year that Boeing's best-selling aircraft had a fatal crash.

Other marquee names also rose - Microsoft Corp, Facebook Inc and Amazon.com Inc gained between 1.2 and 2.3 percent.

U.S. 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.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.62 percent.

Last week the index had its first weekly loss since January.

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