Wall Street finishes in disarray, Boeing hitting Dow Jones

12/03/2019 – 21:35

The New York Stock Exchange ended the session in disarray Tuesday as the Dow Jones continued to suffer from Boeing’s plunge as the Nasdaq continued its rebound.

Wall Street’s leading index lost 0.38% to finish at 25,554.66 points, under pressure from its largest member.

Two days after the crash in Ethiopia of one of its flagship aircraft, the 737 MAX 8, the title of the aircraft manufacturer has indeed dropped 6.15% Tuesday, having already dipped 5.33% the day before.

In the red at the opening, the action lost ground as new countries issued flight bans for the Boeing aircraft.

Nasdaq, with its strong technological color, appreciated by 0.44% to close at 7,591.03 points and the broad S & P 500 index gained 0.30% to end at 2,791.52 points.

Putting aside Boeing, “we are simply seeing the re-emergence of a more optimistic sentiment in the market,” said Peter Cardillo of Spartan Capital.

Wall Street, weighted by indicators and forecasts rekindling worries about global growth, actually recorded last week its strongest weekly decline of the year. The clues “are now trying to stay out of the water” while waiting for “the more significant events that are a possible meeting between the US and Chinese President and Brexit,” said the specialist. In this regard, the market reacted on Tuesday to the rejection, by the British deputies, of the agreement of withdrawal of the European Union negotiated by the Prime Minister, Theresa May, with Brussels. The main indicator of the day in the United States, the very slight increase in consumer prices in February (+ 0.2%) and year-on-year (+ 1.5%), was rather favorable to the equity market. . This modest inflation justifies the position of the US Central Bank “to support the real economy (…) by no longer affecting interest rates for a while,” according to analysts Capital Economist. In the bond market, the interest rate on the ten-year debt fell to 2.598%, against 2.639% Monday night, and that on the 30-year debt stood at 2.986%, against 3.027% at the previous closing.