Markets Right Now: Tech stocks lead rally; Boeing hits Dow - InfoNews

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Markets Right Now: Tech stocks lead rally; Boeing hits Dow

The Boeing logo appears above a trading post on the floor of the New York Stock Exchange before the opening bell, Monday, March 11, 2019. Boeing shares were predicted to fall at the open on Wall Street after the crash Sunday of a 737 Max 8 plane in Ethiopia that killed all 157 people aboard. (AP Photo/Richard Drew)
March 11, 2019 - 1:13 PM

NEW YORK - The latest on developments in financial markets (all times local):

4:00 p.m.

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A rally in the technology sector is pushing U.S. stocks to broad gains Monday, led by Apple and chipmakers.

The S&P 500 posted its biggest increase since late January. Nvidia was the index's strongest performer after agreeing to buy chipmaker Mellanox. Apple benefited from an analyst upgrade.

The S&P 500 gained 40 points, or 1.5 per cent, to 2,783. The Nasdaq, heavily weighted with tech stocks, jumped 149 points, or 2 per cent, to 7,558.

The Dow Jones Industrial Average rose 200 points, or 0.8 per cent, to 25,650. A sharp drop in Boeing shares restrained the Dow's advance.

The upbeat start Monday follows the worst week of the year for the S&P 500. Stocks were helped by a U.S. government report showing retail sales rose slightly in January after falling in December.

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11:55 a.m.

Technology stocks are powering broad gains on Wall Street, although a drop in Boeing is weighing on the Dow Jones Industrial Average.

Apple is up 3.2 per cent after an analyst upgraded the stock, while Nvidia is gaining 4.7 per cent after announcing an acquisition.

Boeing fell 6.8 per cent after a second deadly crash involving one of its new 737 Max planes.

The Boeing loss restrained gains in the Dow, which rose 79 points, or 0.3 per cent, to 25,529. The S&P 500 rose 31 points, or 1.1 per cent, to 2,774, while the Nasdaq jumped 116 points, or 1.6 per cent, to 7.525.

The upbeat start Monday follows the worst week since January for the S&P 500. Stocks were helped by a U.S. government report showing retail sales rose slightly in January.

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9:40 a.m.

Stocks are opening broadly higher on Wall Street, although a sharp drop in Boeing is pushing the Dow Jones Industrial Average lower.

Boeing fell 12 per cent after the second deadly crash in six months involving one of its new 737 Max planes.

Otherwise, stocks were off to upbeat start Monday following the worst week since January for the S&P 500. Stocks were helped by a U.S. government report showing retail sales rose slightly in January.

Technology and bank stocks led the market gainers. Facebook rose 2.3 per cent and Morgan Stanley rose 1.3 per cent.

The S&P 500 rose 13.4 points, or 0.5 per cent, to 2,756.

The Dow lost 164 points, or 0.7 per cent, to 25,2872. The Nasdaq rose 55 points, or 0.7 per cent, to 7,463.

News from © The Associated Press, 2019
The Associated Press

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