Home » Money

Boeing's big gain ends five-day losing streak for the Dow

29 April, 2018, 13:24 | Author: Samuel Sharp
  • US stocks set to open little changed as 10-year yield approaches 3

US stocks slid on Tuesday as 10-year Treasury yields hit the highly anticipated 3 per cent mark for the first time in four years, stoking concerns over higher borrowing rates for companies already facing rising costs, and as quarterly results failed to deliver positive outlooks.

The Dow Jones Industrial Average fell 424.56 points, or 1.74%, to 24,024.13, the S&P 500 lost 35.73 points, or 1.34%, to 2,634.56 and the Nasdaq Composite dropped 121.25 points, or 1.7%, to 7,007.35. The S&P 500 index, meanwhile, ended up about 0.2% at 2,639, as gains in the energy sector (XLE) health-care, consumer discretionary and industrials supported the broad-market benchmark.

On Tuesday Caterpillar fell 6.2 percent despite its earnings beat, when investors were spooked by the company's warning of higher costs.

Rising interest rates should eventually be absorbed into the market, but this doesn't mean the bull market will resume.

INDUSTRIAL WEAKNESS: Caterpillar executives told analysts on a conference call in the late morning that they don't expect the company to report a larger per-share profit for the rest of the year. 3M said raw materials costs are rising, especially for materials derived from crude oil, whose price has been rising, and transportation and logistics expenses are rising as well.

The 10-year bond note yield traded at highest level since January 2014, breaking above 3 percent for the first time in more than four years.

Other companies, including Lockheed and 3M, also gave disappointing updates, adding to the sting of rising Treasury yields. Industrial and basic materials companies and technology firms are taking some of the worst losses.

Investors expected strong profit growth this year thanks to the growing global economy and tax cuts President Trump signed last year. Gina Martin Adams, chief equity strategist for Bloomberg Intelligence, said that hasn't happened yet. It shed 1.4 percent to $67.70 a barrel in NY the previous day. Eastern time. The Dow Jones industrial average was down 509, or 2.1 percent, to 23,982.

Stocks were pressured early in the session as key US interest rates reached levels not seen in years.

Other big technology companies also fell, as Facebook dropped 3.7 percent to $159.69 and Microsoft skidded 2.3 percent to $93.12.

The Nasdaq is down 138.77 points, or 1.9 percent. The Dow finished up about 60 points, or 0.23, at 24,083, with Boeing's stock contributing about 96 points to the blue-chip average.

Japan's benchmark Nikkei 225 slipped 0.3 percent to 22,206.51 and Hong Kong's Hang Seng lost 0.8 percent to 30,378.89.


  • Steven Gerrard among candidates for Rangers job

    Steven Gerrard among candidates for Rangers job

    However, the German joked the same courtesy would not be afforded should Everton or Manchester United ever come calling. He had that hard part of the season and it was quite quick learning - and he did.
    UK: May

    UK: May "could lose her job" if she backtracks on Customs Union

    Voting was 316 to 245, majority 71, to carry over most of the EU Charter of Fundamental Rights into domestic law post-Brexit. Prime Minister Theresa May doesn't really have a choice, the bank's PowerPoint slideshow says.
    Prince William May Have Just Hinted At The New Royal Baby's Name

    Prince William May Have Just Hinted At The New Royal Baby's Name

    He said: 'It is a great joy to have another grandchild; the only trouble is I don't know how I am going to keep up with them'. Prince William joined his brother Prince Harry and his fiancée Meghan Markle at Westminster Abbey for an Anzac Day service.
  • Alfie Evans' dad calls for 'Alfie's Army' to STAND DOWN

    Alfie Evans' dad calls for 'Alfie's Army' to STAND DOWN

    Pope Francis has offered prayers and support for Alfie and his parents, including meeting Tom Evans in an audience. On Tuesday, a high court judge decided that the boy's parents could not take him overseas for further treatment.
    Former President George HW Bush tweets thanks to Houston

    Former President George HW Bush tweets thanks to Houston

    The nation's 41st president has been in hospital since Sunday, a day after the funeral for Barbara Bush , his wife of 73 years. Bush has been moved out of the intensive care ward at a Houston hospital, according to a family spokesperson.
    Kevin Feige Provides Update On Marvel Movies & TV Crossover

    Kevin Feige Provides Update On Marvel Movies & TV Crossover

    Brolin casts a large shadow as Thanos , and it's a good thing because this movie deserves an epic villainous performance. The movie speeds along from gargantuan moment to gargantuan moment with death hovering above each spectacular sequence.
  • EU Introduces Ban On Pesticides Harmful To Bees

    EU Introduces Ban On Pesticides Harmful To Bees

    Emi Murphy, a campaigner at Friends of the Earth said: "This a major victory for science, common sense and our under-threat bees". The use of the active ingredients imidacloprid, clothianidin and thiamethoxam will henceforth be only allowed in greenhouses.
    Cowboys QB Dak Prescott says Jason Witten will be missed

    Cowboys QB Dak Prescott says Jason Witten will be missed

    On the second day of the 2018 NFL Draft , news broke regarding the expected retirement of Dallas Cowboys' tight end Jason Witten . However, the plot twist in this situation is Witten wants to be in the broadcasting booth with FoxSports this year.
    Rapper Meek Mill to be released from prison on bail

    Rapper Meek Mill to be released from prison on bail

    Judge Brinkley, who has been barred to speak publicly about the case, appears that she will not recuse herself from the case. Ordering Mill out on bail, the state's Supreme Court cited "credibility issues" over a police officer who was a witness.
  • Facebook: There may be more Cambridge Analytica-sized leaks

    Facebook: There may be more Cambridge Analytica-sized leaks

    The co-founder and CEO of Facebook Mark Zuckerberg has apparently agreed to meet with MEPs at the European Parliament next month. Stevens pressed him on whether Facebook read any terms and conditions of developers who put apps on the platform prior to 2014.
    Ninety-eight now sick from romaine lettuce-linked E. coli: CDC

    Ninety-eight now sick from romaine lettuce-linked E. coli: CDC

    To date, Marler Clark, the food safety law firm , has been contacted by over 50 people, 7 of whom have contracted HUS. Pennsylvania leads the country with 18 cases, while California is second with 13 cases, according to the CDC.
    Pakistani minister removed over UAE work permit violations

    Pakistani minister removed over UAE work permit violations

    The court stated that Asif did not mention his foreign employment in his nomination papers. Supreme Court of Pakistan has disqualified Khawaja Asif on Iqama case.


No evidence that Trump conspired with Russian Federation in elections 2016, - US Congress
The heavily redacted report sums up a year-long probe that saw Democratic and Republican members of the committee clash. The committee's investigation began with bipartisanship but ultimately succumbed to factional squabbling.

Arizona Cardinals address offensive needs in first two days of NFL Draft
And while Bradford is unlikely to lead the Cardinals to a Super Bowl, there are worse places for Rosen to be than the Cardinals. But Rosen, who said he "obviously" wants to be the starter, doesn't plan on creating havoc internally.

Broncos select CB Isaac Yiadom in 3rd round of National Football League draft
We felt very fortunate that he was still there at No. 5. "He's a great addition to the Broncos". The Broncos' first-round draft pick is excited about his upcoming move to Denver.

Do The EPA's New 'Secret Science' Rules Actually Promote Transparency?
The new rule announced has a similar goal as legislation pushed by the chairman of the House Science Committee, Rep. Check back for updates and follow BuzzFeed News on Twitter .‏.

Nintendo sold 15 million Switch consoles in FY2017
The success of the Switch has been a huge development for Nintendo after the company whiffed on its last console, the Wii U. As for the company's Labo cardboard peripherals, there is no sales information since they were launched only recently.

Jeremy Corbyn apologises for Labour anti-Semitism
He added: "The Jewish Leadership Council and the Board of Deputies of British Jews requests were hardly unreasonable". Allegations of Labour anti-Semitism have grown since pro-Palestinian socialist Corbyn was elected leader in 2015.

Racially insensitive Josh Allen tweets surface hours before National Football League draft
ESPN says the tweets were removed from Allen's account when it was vetted in January. "It sucks. This will be the first-ever franchise pick by John Dorsey , the Browns new general manager.

President Trump's personal attorney to plead the fifth in Stormy Daniels case
The judge in that case said last week that he needed to hear from Cohen directly before deciding on that request. A person testifying can invoke the Fifth Amendment to protect against self-incrimination.

Apple called the new 2 reasons to switch from Android to iPhone
The company is already working on iOS 11 .4, with a developer and public beta for users with an Apple developer account. In addition to the iOS 1.3.1 update, Apple has also rolled out a major security update to the macOS 10.13.4.

Meek Mill Returns In Time To See Philadelphia Sixers Advance
I do expect a bounce back game from Klay Thompson and I think Iggy will help them a lot control the tempo of this game in Oakland. The Heat have erased a 3-1 deficit only once, in 1997 against NY . "We feel like we're unstoppable".