Markets Right Now: Stocks close higher on Wall Street

Markets Right Now: Stocks close higher on Wall Street

Boeing Co, the world's largest planemaker and best-performing Dow component this year by a wide margin, ended down 5.3 percent at $400.01, registering its biggest one-day percentage drop since October 29, after many airlines grounded the company's new 737 MAX 8 passenger jet following the second fatal crash involving the aircraft in just five months.

The Dow Jones airlines index dropped 2 percent, while the S&P industrials index fell 0.9 percent. 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.

Stocks are moving steadily higher in midday trading on Wall Street, putting the market on track for its third gain in a row.

The S&P 500 and Nasdaq eked out gains at open on Monday as February's benign inflation data supported the Federal Reserve's "patient" approach towards further rate hikes, while a second day of losses in Boeing pressured the Dow. More than a dozen airlines as well as the governments of China, Indonesia, Australia and Singapore have grounded the aircraft. 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.

"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 consumer price index rose a modest 1.5 percent last month from a year ago.

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.

Marijuana stocks rose after New Jersey Gov. Phil Murphy and legislative leaders said they've agreed on legislation to legalize recreational marijuana for adults.

Sebastian Vettel reveals the name of his new RB15 in Oz
The communication is better than ever. "I'm confident the vehicle will be better here [than in testing], but if it's enough, we'll find out".

Tilray gained 3.1 percent, while Canopy Growth added 1.4 percent.

Google's parent company Alphabet rose 2.2 percent and Botox maker Allergan rose 2.1 percent.

CURRENCIES: The dollar inched down to 111.21 yen from Tuesday's 111.26 yen.

The Dow is up 2,227.20 points, or 9.5 per cent. The euro advanced to $1.1256 from $1.1245. The Nasdaq rose 39 points, or 0.5 percent, to 7,579. Another slide in Boeing weighed on the Dow Jones Industrial Average.

Intel rose 1.5 per cent Wednesday and UnitedHealth Group climbed 2.6 per cent.

Trader Jeffrey Vazquez works on the floor of the New York Stock Exchange, Tuesday, March 12, 2019.

Global stocks turned lower Tuesday and the British pound dropped as expectations grew that British lawmakers would reject a plan to leave the European Union.

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