Stocks – Boeing, Walgreens Boost Dow; China Stalls Market

This post was originally published on this site

© Reuters. © Reuters.

Investing.com – Stocks overall struggled on Monday, but the was pushed higher by gains in Boeing (NYSE:) and Walgreens Boots Alliance (NASDAQ:).

The fell 0.2%. The was off 0.13%, while the rose 0.04%.

The Dow’s gain came because Boeing (NYSE:) jumped 4.6% after saying it believes its 737 Max will win recertification from the Federal Aviation Administration by the end of the year, with deliveries reportedly starting in December. It would take two months or so before the planes — new and grounded — could go into service.

Walgreens (NASDAQ:) rose 5.1% on a Bloomberg News report that buyout giant KKR was considering offering to take the company private.

The two stocks alone added nearly 129 points to the blue-chip index by themselves A 0.6% gain for Apple (NASDAQ:) added another 14 points with a 0.8% gain, but the other components, especially 3M (NYSE:), Goldman Sachs (NYSE:), UnitedHealth Group (NYSE:) and Walt Disney (NYSE:), pulled back enough to offset the first three.

The reason for the pullback was more worries about a U.S.-China trade deal. There was nothing announced Monday, and all traders had to work with were comments last week from President Donald Trump. The first came on Friday when he said he hadn’t signed off on rescinding tariffs, set to take effect on Dec. 15. And, while he tweeted Saturday talks were “progressing nicely,” that wasn’t enough for traders and their computers.

Oil prices moved lower as well. Oil traders believe a deal will boost global oil demand and cut inventories of crude oil in the United States and broad. crude fell 38 cents to $56.86 a barrel. crude, the global benchmark, dropped 33 cents to $62.18. Both have risen about 5% since the end of September as traders have expected a trade deal.

tumbled in New York$1,459.50 an ounce, down $3.40 an ounce. Also lower were farm commodities like , and .

The U.S. government bond market was closed Monday for Veterans Day.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment