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Post by bot on Mar 15, 2018 22:48:15 GMT -5
Dow retakes 25,000 in late-morning trade as Boeing's stock turns positive
The Dow Jones Industrial Average turned firmly higher late-morning on Thursday as the average as one of its most influential components turned positive. The Dow was up 270 points, or 1.1%, at 25,026, as Boeing's shares [: BA] pared some of its worst levels, and was most recently up 0.7% or $2.26. A $1 move in anyone one of the Dow's components equates to 6.89 swing in the equity gauge. The industrial giant had encountered struggles on the back of sharpened fears that recently introduced tariffs on steel and aluminum imports could spark a trade war, which in turn could whack multinationals like Boeing. Boeing's shares have declined about 7% so far this week and are threatening to post the worst weekly loss in abut two years, according to FactSet data. Boeing is one of a few global companies that might face retaliatory responses from trade partners, notably China, market participants worry. Share climbs in Goldman Sachs Group Inc. and UnitedHealth Group Inc. were helping to buoy the Dow. Meanwhile, the S&P 500 index was up 0.4% at 2,760, while the Nasdaq Composite Index climbed 0.3% at 7,519.
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