Dow Struggles to Shrug off Boeing Scrutiny as S&P 500 Creeps Toward Record Highs
Boeing continues to present the Dow with a gloomy forecast. | Source: Shutterstock
The Dow lagged behind the broader U.S. stock market on Monday, as the Department of Transportation zeroed in on Boeing’s flight safety system in the wake of two deadly airline crashes that have sent the company’s share price into a tailspin.
Dow Lags as S&P 500 Jumps Further Past 2,800
The Dow Jones Industrial Average traded flat Monday, reversing an earlier loss. The index’s movement reflects a tepid pre-market session for Dow futures, which staggered into Monday’s open. At last check, the Dow was up 13 points, or 0.1%, at 25,862.40.
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The broad S&P 500 Index of large-cap stocks climbed 0.4% to 2,833.48, where it was inching ever closer to record highs. Seven of 11 primary sectors contributed to the rally, with energy stocks rising 1.2%. Financials and consumer discretionary stocks also rose 1% on average.
Meanwhile, the technology-focused Nasdaq Composite Index climbed 0.5% to 7,725.94.
A measure of implied volatility known as the CBOE VIX bounced off five-month lows on Monday but remained well below the historic mean. VIX climbed 3.1% to 13.28 on a scale of 1-100 where 20-25 represents the long-term average.