Economy

Markets Right Now: Tech stocks lead rally; Boeing hits Dow

Markets Right Now: Tech stocks lead rally; Boeing hits Dow

Boeing's stock, which comprises about 10.9% of the Dow, fell 6.13% to $375.47 per share as of market close.

"Investors are watching with interest to see the outcome of the Brexit vote today as it has been one of the uncertainties in the market that has been persistent".

The dollar fell more steeply shortly after data revealed that the US 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%. The blue chip Dow Jones Industrial Average finished at 25650.88, up 200.64 or +0.78% and the tech-based NASDAQ Composite closed at 7558.06, up 149.92 or +2.01%.

Coca-Cola Co dipped 0.1 percent after HSBC downgraded the soda maker's stock. In the 12 months through February, the core CPI rose 2.1 percent.

The Dow Jones Industrial Average rose 167 points, or 0.7 per cent, to 25,722.

Apple rose 0.7 percent and was the biggest boost to the S&P and Nasdaq, after the iPhone maker invited media to a March 25 event where it is expected to launch a television and video service.

The week opens with investors still waiting for more details on any potential trade deal between the US and China. Costly tariffs have hurt both nations and investors hope a deal can be struck to at least take some pressure off the global economy, which has shown signs of cooling off.

Anti-social media: UEFA to investigate Neymar's 'go f
Neymar has not played since suffering a metatarsal injury in a Coupe de France match against Strasbourg on January 23. UEFA have now revealed that Neymar is under investigtion for his comments.

Ethiopian Airlines confirmed that a Boeing 737 MAX 8, bound for Nairobi, Kenya, crashed shortly after taking off from the Ethiopian capital Addis Ababa Sunday morning, killing all 157 people onboard.

Marijuana stocks rose after New Jersey Gov. Phil Murphy and legislative leaders said they've agreed on legislation to legalize recreational marijuana for adults. Hong Kong's Hang Seng added 1.5 percent to 28,821.14 and Seoul's Kospi gained 0.9 percent to 2,157.18.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.61 percent from 2.64 percent late Monday.

CURRENCIES: The dollar inched down to 111.21 yen from Tuesday's 111.26 yen. The euro rose to $1.1297 from $1.1240.

The Dow is up 2,227.20 points, or 9.5 per cent.

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 percent, to 7,579.

"The Dow Jones Industrial Average is a price-weighted average, and it just so happens that Boeing is its highest-priced component, which means it is going to have some outsized influence on its performance", he wrote.


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