Boeing Drags on Dow; S&P Extends Win Streak
The Dow tanked on Boeing headwinds
The Dow stood no chance against heavyweight Boeing (BA) stock in today's trading, closing 84 points lower after the aerospace giant announced a notable cut to its 737 MAX 8 production. The S&P 500 and Nasdaq showed resilience, though, thanks to Apple's (AAPL) impressive 1.6% surge, with the former bringing its daily win streak to eight -- the longest since October 2017.
Continue reading for more on today's market, including:
The China stock for short-term bulls. These 3 stocks were red-hot in today's trading.One analyst slammed Micron stock with a rare downgrade.Plus, bears blasted one Boeing supplier; Raymond James thinks Axon's a "strong buy"; and a CBD stock pops on Walmart buzz.The Dow Jones Industrial Average (DJI - 26,341.02) sank 84 points, or 0.3%. Apple (AAPL) surpassed the 17 blue-chip gainers, adding 1.6%. Not surprisingly, Boeing (BA) was the biggest loser, shedding 4.4%.
The S&P 500 Index (SPX - 2,895.77) added 3 points, or 0.1%, while the Nasdaq Composite (IXIC - 7,953.88) pushed 15.2 points, or 0.2% higher.
The Cboe Volatility Index (VIX - 13.18) added 0.4 point, or 2.8%.
5 Items on our Radar Today
A clinical trial on 11 lymphoma cancer patients out of New York's Mount Sinai Hospital was successful in putting at least three of its patients into remission. Lead author Dr. Joshua Brody stated the so-called "vaccine" has "broad implications for multiple types of cancer," and will widen the scope to include breast and head-and-neck cancer patients in its next study. (CNBC)One day after the resignation of Homeland Security Secretary Kirstjen Nielsen, President Donald Trump is removing Director of the U.S. Secret Service Randolph Alles. The two departures come amid an overhaul of leadership at the Deparmtement of Homeland Security. (Reuters)Options bears blasted this Boeing supplier. Why Raymond James think's Axon's a "strong buy."This CBD stock popped on Walmart buzz.There were no earnings of note today.
Data courtesy of Trade-Alert
Crude Closes at Multi-Month High
Continued tensions out of Libya boosted crude . The May-dated oil closed up $1.32, or 2.1%, at $64.40 per barrel -- the highest close for a front-month contract since October.
Gold prices climbed on the back of a weakening dollar. June-dated gold added $6.30, or 0.5%, to settle at $1,301.90 an ounce.