Wall Street gains on benign inflation data; Boeing extends fall

Wall Street gains on benign inflation data Boeing extends fall

On Wall Street, the Dow Jones Industrial Average was set to open slightly lower, with future contracts declining 0.1 percent to 25,625. The S&P 500 was up 14.92 points, or 0.54 percent, at 2,757.99 and the Nasdaq Composite was up 67.46 points, or 0.91 percent, at 7,475.60.

The Dow fell 68 points, or 0.3 per cent, to 25,585.

The Nasdaq composite climbed 32.97 points, or 0.4 per cent, to 7,591.03.

F5 Networks Inc slipped almost 8%, the most on the S&P index, after the network software maker said it would buy privately held NGINX.

Boeing Co, the world's largest planemaker and best-performing Dow component this year by a wide margin, ended down 5.3 percent at $400.01, registering its biggest one-day percentage drop since October 29, after many airlines grounded the company's new 737 MAX 8 passenger jet following the second fatal crash involving the aircraft in just five months.

Technology stocks powered the market's early gains.

Investors are also still waiting for more details on any potential trade deal between the US and China.

In midday trading, France's CAC 40 shed 0.3 percent to 5,254 while Germany's DAX lost its gains to trade flat at 11,518. Costly tariffs have hurt both nations and investors hope a deal can be struck to at least take some pressure off the global economy, which has shown signs of cooling off.

Airlines in China, Indonesia, and Ethiopia grounded all Boeing 737 MAX 8 airplanes after that model crashed on Sunday on its way to Nairobi.

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'Empire' actor Jussie Smollett pleads not guilty
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Facebook, Instagram outage goes global
Facebook, WhatsApp, Instagram and Facebook Messenger have all been affected by the partial outage across the U.S. and Europe. Facebook, on Twitter, last gave an update about ongoing outages on its platforms on it's platforms on Wednesday afternoon.

The impasse has raised fears of a chaotic "no-deal" Brexit that could disrupt businesses in Britain and the 27 remaining European Union countries. Later, other countries including Australia, Malaysia and Singapore, as well as some carriers in Latin America, announced moves to ground flights with the aircraft.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.63 percent.

After consolidating near the opening, the Dow Jones Industrial Average rebounded on the back of a 3.47 percent gain in Apple shares.

Marijuana stocks rose after New Jersey Gov. Phil Murphy and legislative leaders said they've agreed on legislation to legalize recreational marijuana for adults.

CURRENCY: The dollar gained to 111.26 yen from Monday's 111.21 yen.

For example, Goldman Sachs' shares soared in the weeks after Donald Trump's election in 2016, accounting for almost a quarter of the Dow's 1,000-point rally. The euro rose to $1.1297 from $1.1240.

Trader Dudley Devine works on the floor of the New York Stock Exchange, Tuesday, March 12, 2019.

The S&P 500 index rose 6 points, or 0.2 percent, to 2,789.

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