- The Dow Jones rose a measly 22 points on Monday as Boeing and Walgreen’s posted massive gains.
- It was a generally weak day for the U.S. stock market after negative headlines from Hong Kong and the Trump administration knocked risk sentiment.
- Dow giant Goldman Sachs’ stock is under pressure due to its Apple Card being investigated by New York for discrimination.
The Dow Jones erased a sizeable chunk of its trade war-inspired losses on Monday, as Boeing (NYSE:BA) stock rallied 4%. BA is the most heavily weighted stock in the Dow and helped lift an otherwise struggling index as news broke that Boeing expected to resume 737 Max deliveries in December.
Boeing Powers Dow Jones Higher Despite Trade War Concerns
Boeing’s rally helped to make the Dow Jones the best performing index among the majors through a meager 0.3% gain. The S&P 500 and Nasdaq both dipped around 0.2% amid a mixed risk environment. The price of gold fell 0.3% despite the mixed performance in equities and a decline in the U.S. Dollar index (DXY).
The Dow Jones erased its daily losses after a positive report from Boeing on the 737 Max timeline sent BA stock soaring. | Chart: Yahoo Finance
Comments by one of Donald Trump’s top trade officials, Peter Navarro, dented the Dow after the economist resolutely denied that tariffs on China would be rolled back. In addition to these concerns, some of the worst unrest in Hong Kong since protests began further weighed upon hopes of thawing relations between the U.S. and China.
Further gravity was felt upon the Dow as the United Kingdom missed GDP estimates.