United States stock indexes end mostly higher, extending market's gains

Lloyd Doyle
March 14, 2019

The S&P 500 moves up and down based on changes in its members' market value, but the Dow bounces around according to changes in its 30 members' stock prices.

Further boosting technology shares was the news that Nvidia was buying Mellanox Technologies for $6.8 billion. The airline maker fell 5.3 percent after a plane crash on Sunday that involved the 737 MAX 8 jet. Authorities in Ethiopia, China, Singapore, Australia and Indonesia are among the countries that have grounded all Boeing 737 Max 8 aircraft.

After consolidating near the opening, the Dow Jones Industrial Average rebounded on the back of a 3.47 percent gain in Apple shares.

USA stocks opened mostly higher on Wall Street Monday, although a steep drop in Boeing is weighing down the Dow Jones Industrial Average.

At 12:31 p.m. ET the Dow Jones Industrial Average was down 74.29 points, or 0.29 percent, at 25,576.59, the S&P 500 was up 11.88 points, or 0.43 percent, at 2,795.18 and the Nasdaq Composite was up 49.37 points, or 0.65 percent, at 7,607.44.

All the major S&P sectors rose, led by gains in the technology sector, which was up 2.2 percent.

Advancing issues outnumbered decliners for a 2.18-to-1 ratio on the NYSE and a 1.62-to-1 ratio on the Nasdaq.

The Boeing loss restrained gains in the Dow, which rose 79 points, or 0.3 per cent, to 25,529.

For this reason, the S&P 500 long ago became the dominant force in the market, which is why most folks can't name a single mutual fund or ETF that tracks the Dow.

Briefing.com analyst Patrick O'Hare said Boeing's impact on the Dow was not indicative of the performance of the wider market.

This, however, comes in the wake of Apple's shares which surged 3.47 percent putting-off some of Boeing's losses.

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

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

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

The S&P 500 index rose 12 points, or 0.4 per cent, to 2,803.

ENERGY: Benchmark U.S. crude rose 55 cents to $57.34 per barrel in electronic trading on the New York Mercantile Exchange.

The Dow lost 164 points, or 0.7 per cent, to 25,2872. Bank stocks also showed early strength, with Morgan Stanley gaining 1.6 percent. Wholesale gasoline fell 1 cent to $1.82 a gallon, heating oil fell less than 1 cent to $1.99 a gallon and natural gas rose 1 cent to $2.78 per 1,000 cubic feet.

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