Major US equity indices witnessed a mixed opening at the start of a new trading week, with a sharp fall in the shares of Boeing weighing on the Dow Jones Industrial Average (DJIA).
Being the most heavily weighted company in the DJIA, a slump of over 10% in the shared of Boeing – in reaction to the plane crash in Ethiopia over the weekend, turned out to be one of the key factors dragging the blue-chip index lower during the opening hour of trade.
The downtick, however, turned out to be rather short-lived and was quickly bought into, with the index recovering the majority of its early losses to 25,208 and was last seen trading with only modest losses of around 15-points, around the 25,435 region.
On the other hand, the broader S&P 500 index climbed nearly 20-points to 2,762 and was led higher by tech shares. In fact, tech-heavy Nasdaq Composite Index rallied nearly 80-points and built on its momentum further beyond the 7,400 round figure mark amid optimism over progress in the US-China trade talks.
With investors still waiting for fresh details, or a concrete deal, renewed concerns about a global slowdown, further fueled by Friday’s surprisingly weaker headline NFP pint, might keep a lid on any subsequent up-move.
Share
