Monday, 20 May, 2019

Tech, health lead stocks gains at midday

Boeing Shares Plunge After Ethiopian Airlines Crash Markets Right Now: Tech stocks lead rally; Boeing hits Dow
Russell Knight | 15 March, 2019, 04:43

U.S. stocks eked out gains 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 and capped gains in broader markets.

KEEPING SCORE: The Dow fell 13 points, or 0.1 percent, to 25,436 as of 10:25 a.m. 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 fell 36 points, or 0.1 percent, to 25,618.

The S&P 500 index rose 12 points, or 0.4 per cent, to 2,803. Conversely, the industrials and consumer staples sectors underperformed.

Boeing lost another 6.2% today after multiple countries grounded the 737 MAX airplane. 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.

Oil Prices Increase as US Lowers Crude Production Estimates
An unexpected dip in USA crude oil inventories and production also lifted prices, traders said , Reuters reported . Market shortages have been exacerbated by U.S. sanctions on oil exports by OPEC members Iran and Venezuela .

Google sets new Guinness World Record on Pi Day
Moving forward, she wants to help other budding mathematicians who are interested in unearthing pi's numbers like her. Iwao, who is based in Seattle, USA, achieved the feat by using Google's cloud computing service.

Avengers: Endgame Trailer May Reveal How Hulk Returns
When we last saw the Avengers , they were on Wakanda fighting Thanos, and many of their allies had been snapped into dust. Less than a week after Captain Marvel's arrival, the studio has already dropped a big new trailer for Avengers: Endgame .

Last-minute tweaks to Britain's divorce deal lifted stocks worldwide, but the gains soon petered out after Britain's Attorney General Geoffrey Cox said a revised deal with the European Union did not give Britain legal means of exiting the so-called backstop arrangement unilaterally if "intractable differences" arose. Hong Kong's Hang Seng fell 0.5 percent to 28,776.10, while the Shanghai Composite dipped 0.8 percent at 3,035.15. The yearly increase in the so-called core rate also slowed a tick to 2.1%.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, Mar 8, 2019.

The Labor Department said its Consumer Price Index (CPI) rose last month, in line with estimates, and in the 12 months through February the CPI had the smallest gain since September 2016. The Nasdaq rose 55 points, or 0.7 per cent, to 7,463. In electronic trading after the settlement, gold futures touched highs above $1,302, edging slightly higher after the Brexit vote.

The Dow is up 104.42 points, or 0.4 per cent. Signs of a supply crunch lingered and traders assessed the latest monthly US government price and output forecasts and allowed recent comments from energy officials to hold.

The NASDAQ Composite Index was bolstered by shares of Facebook, which gained 1.46 percent after Nomura Instinet upgraded it to buy from neutral. This decline shaved off close to 150 points from the Dow given its nature in the price-weighted stock's elevated price compared to a range of other Dow components.

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