Boeing stock surged midday on 737 MAX news
U.S. stocks spent the first half of the day trading in the red on President Donald Trump's pessimistic comments about a trade deal with China, but the major indexes were able to pare most of these losses by the close. A sudden rally from Boeing (BA) on news the company expects its 737 MAX to return to commercial service in January sparked a major reversal from the Dow, eventually guiding it to a record close. While the price action for the S&P 500 and Nasdaq was similar, both indexes settled slightly lower on the day.
Continue reading for more on today's market, including:.
A put seller placed a big bet on rallying Humana. Why this entertainment stock could keep struggling. Analyst expects major moves from one China stock. Plus, an analyst's Qualcomm concerns; a must-see Garmin signal; and blue-chip buyout buzz.The Dow Jones Industrial Average (DJI - 27,691.49) finishedwith a 10.3-point, or 0.04%, lead, despite being down more than 160 points earlier in the day. BA's 4.5% gain wasn't even the best of the Dow's nine winners, as Walgreens Boots Alliance (WBA) rose 5.1%. As for the 21 blue-chip losers, 3M (MMM) had the worst day, falling 1.8%.
The S&P 500 Index (SPX - 3,087.01) recovered most of its intraday losses, but still ended down 6.1 points, or 0.2%. The Nasdaq Composite (IXIC - 8,464.28) dropped 11 points, or 0.1%.
The Cboe Volatility Index (VIX - 12.69) added 0.6 point, or 5.1%, briefly taking out its 20-day moving average for the first time since Oct. 11.
Oil prices fell today on the uneasiness around trade relations. December crude futures finished off 38 cents, or 0.7%, at $56.86 per barrel.
Gold prices also slumped today, with the December-dated contract falling $5.80, or 0.4%, to $1,457.10 an ounce -- marking another nearly three-month closing low.