Dow rises at open as Boeing beats on revenue, expresses 737-Max optimism

Wednesday, 23 October 2019 20:52 WIB

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U.S. stocks traded mixed at the start of trade Wednesday, with the Dow Jones Industrial Average boosted by shares of embattled Boeing Co. after the company issued third-quarter earnings that missed analyst expectations, but beat on revenue and stuck to an optimistic timeline for the return of its 737 Max Jet.

The Dow Jones Industrial Average rose 48 points, or 0.2% to 26,840, the S&P 500 index retreated 1 points, or less than 0.1% to 2,994 and the Nasdaq Composite index fell 16 points, or 0.2% to 8,086.

Shares of Dow component Caterpillar Inc. edged 0.7% higher at the start of trade even after the construction-equipment manufacturer reported falling sales and profits and lowered its outlook for the full-year 2019.

Investors were also tracking developments in Brexit negotiations, after U.K. Prime Minister Boris Johnson failed to win approval for an immediate withdrawal from the European Union, setting the stage for a three-month extension of the exit deadline to Jan 31.

Source : MarketWatch


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