US stocks climbs with tech; Boeing off day's lows
March 12, 2019 / livemint
US stocks jumped on Monday after five straight sessions of declines, led by gains in technology shares, but a fall in the shares of the world's largest planemaker after a fatal crash in Ethiopia limited gains on the Dow.Boeing Co, the best-performing Dow component this year by a wide margin, was down 6.4 % at $395.67 after many airlines grounded the company's new 737 MAX 8 passenger jet after a second deadly crash in just five months.But the stock was well off its lows of the day, and that helped the market to march even higher in afternoon trading. The industrial sector reversed early losses to climb 0.5 percent."After the weakness in the markets last week, things have gotten a little bit oversold," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
The day's move is especially impressive given the decline in Boeing. "It's a very strong sign of overall market strength," James said.