S&P 500, Nasdaq rise after inflation data, Boeing weighs on Dow

Boeing Shares Plunge After Ethiopian Airlines Crash

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

Bond prices fell. The yield on the 10-year Treasury rose to 2.61 per cent.

The S&P 500 rose 19 points, or 0.7 per cent, to 2,810.

Boeing, the heaviest-weighted component of the Dow, slumped 10% amid that China and Indonesia - two of the biggest sales markets for the 737 Max 8 - had ordered it grounded after one crashed shortly after take-off on Sunday. The Russell 2000 index of smaller companies picked up 0.96 points, or 0.1 percent, to 1,549.83. Boeing lost 3 percent as more of its 737 Max 8 jets are idled following the second crash involving the jet model in less than five months.

Technology and health care stocks did the most to push the market higher Tuesday.

Apple Inc rose 3.5 percent after Bank of America Merrill Lynch upgraded the iPhone maker's shares to "buy".


US stocks closed in a mixed mode on Tuesday, 12 March 2019 led by the health care and utilities sectors, while the Dow Jones Industrial Average retreated as shares of Boeing came under heavy pressure following a fatal crash over the weekend of a 737 Max aircraft. The consumer price index rose a modest 1.5 percent last month from a year ago.

"Lower rates help hold stocks up because (they) allow for higher multiples", said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. London's FTSE 100 was also flat, at 7,156, while the pound dropped a sharp 1 percent on expectations that the latest version of Britain's Brexit deal with the European Union will be voted down by lawmakers on Tuesday. The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis, the US Labor Department said on Tuesday.

CURRENCY: The dollar gained to 111.26 yen from Monday's 111.21 yen.

On Wall Street, the Dow Jones Industrial Average was set to open slightly lower, with future contracts declining 0.1 percent to 25,625. The euro advanced to $1.1256 from $1.1245. 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.

Technology stocks were among the biggest gainers, with Apple (NASDAQ:) up 2.2%, Facebook (NASDAQ:) gaining 2.5% and Amazon.com (NASDAQ:) rising 1.1%.

The price of USA crude oil rose 8 cents to $56.87 a barrel, while Brent crude rose 9 cents to $66.67 a barrel.

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