Boeing drags Dow Jones to 2-week low, megacaps lift Nasdaq | Mint

At 9:52 am ET, the Dow Jones Industrial Average was down 185.79 points, or 0.50 per cent, at 37,280.32. The S&P 500 was up 11.73 points, or 0.25 per cent, at 4,708.97. The Nasdaq Composite was up 104.25 points, or 0.72 per cent, at 14,628.33.

The Dow Jones Industrial Average fell 138.74 points, or 0.37 per cent, at the open to 37,327.37. The S&P 500 opened higher by 6.46 points, or 0.14 per cent, at 4,703.70. The Nasdaq Composite gained 40.39 points, or 0.28 per cent, to 14,564.47 at the opening bell. 

Boeing shares plunged by 9.1 per cent, after the beleaguered manufacturer was forced to ground some of its 737 MAX fleet when an Alaska Airlines panel blew out mid-flight.

The yield on the 10-year treasury slipped to 4.02 per cent from 4.05 per cent late Friday.

On Friday, US stock indices closed marginally higher. The S&P 500 gained 8.37 points, or 0.18 per cent, to end at 4,697.05 points, while the Nasdaq Composite gained 11.47 points, or 0.09 per cent, to 14,521.77. The Dow Jones Industrial Average rose 24.09 points, or 0.07 per cent, to 37,464.43.

European stocks fell on Monday, dragged down by energy shares. The pan-European STOXX 600 was down 0.3 per cent by 0915 GMT.

Britain’s FTSE 100 lost 0.4 per cent at 7,661.55 points. France’s CAC 40 fell 0.2 per cent at 7,404.39. Germany’s DAX slipped 0.1 per cent at 16,585.94.

In Asia, Hong Kong’s Hang Seng Index edged down 1.9 per cent at 16,224.45. China's Shanghai Composite fell 1.4 per cent to 2,887.54.

Japan’s Nikkei 225 was closed for a holiday.

South Korea’s Kospi shed 0.4 per cent to 2,567.82. Australia’s S&P/ASX 200 lost 0.5 per cent at 7,451.50. Taiwan’s Taiex gained 0.3 per cent, while the SET in Bangkok was 0.6 per cent lower.

Oil prices declined by more than 4 per cent on Monday following cuts by top exporter Saudi Arabia and a rise in OPEC output. 

Brent crude slid 4.2 per cent, or $3.38, to $75.38 a barrel by 1440 GMT while US West Texas Intermediate crude futures lost 4.7 per cent, or $3.52, to $70.29.

On Sunday, Saudi Arabia reduced the February official selling price (OSP) of its flagship Arab Light crude to Asia to the lowest level in 27 months on rising supply and competition with rival producers.

Gold prices fell on Monday, pressured by dollar strength and elevated treasury yields.

Spot gold was down more than 1 per cent at $2,023.49 per ounce by 9:41 am ET (1441 GMT). US gold futures fell 0.9 per cent to $2,029.80.

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Published: 08 Jan 2024, 09:07 PM IST