Stocks began the week trading mixed with the Dow down more than 100 points as Boeing shares dropped following a second deadly crash involving the planemaker’s 737 MAX jet.
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| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| BA | BOEING COMPANY | 375.16 | -47.38 | -11.21% |
The Ethiopian Airlines jet crashed minutes after takeoff from Addis Ababa on Sunday, killing all 157 on board, according to Reuters.
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It was the same model aircraft flown by Lion Air that crashed off the coast of Indonesia in October, killing all 189 on board.
The crash has caused many airlines to grounded the plane.
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Boeing was supposed to hold a ceremonial debut of its 777X widebody aircraft this week. That has been postponed.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 25389.57 | -60.67 | -0.24% |
| SP500 | S&P 500 | 2758.12 | +15.05 | +0.55% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7474.391892 | +66.25 | +0.89% |
In Europe, shares of Boeing rival Airbus rose. London’s FTSE gained 0.3 percent, Germany’s DAX added 0.2 percent and France’s CAC added 0.1 percent.
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In Asian markets on Monday, China’s Shanghai Composite index closed up 1.9 percent after the central bank governor pledged more support for a slowing economy.
Hong Kong’s Hang Seng added 1 percent and Japan’s Nikkei ended the day up 0.5 percent.
In U.S. economic news, retail sales unexpectedly rose in January, lifted by an increase in purchases of building materials and discretionary spending, but receipts in December were much weaker than initially thought. The Commerce Department said retail sales rose 0.2 percent. Data for December was revised down to show retail sales dropping 1.6 percent instead of the 1.2 percent fall that as previously reported.
