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© Reuters. Traders are working on the floor of the post where Boeing traded at NYSE NY
By Amy Caren Daniel and Medha Singh
(Reuters) – US stocks climbed on Tuesday, with February's favorable data on inflation confirming the Federal Reserve's accommodative stance on future rate hikes, but Boeing's fall for a second consecutive session exerted pressures on the Dow.
The Ministry of Labor has stated that its consumer price index (CPI) has increased by 0.2%, according to estimates, and that for the period up to 12 months ending in February it had increased by 1.5%, the smallest gain since September 2016.
"The consumer price index figures evoke a patient Fed and ultimately bode well for the market," said Ryan Larson, head of US equity trading at RBC Global Asset Management in Chicago.
"Investors are watching with interest the outcome of the vote on Brexit today, which is one of the lingering uncertainties in the market."
The UK's exit from the European Union remained in abeyance after Attorney General Geoffrey Cox declared that last-minute legally binding assurances won by Prime Minister Theresa May over her divorce deal left the risk unchanged against Irish support.
British lawmakers who rejected the withdrawal agreement from May to January have to rule again on the Brexit deal around 15:00. ET (1900 GMT).
Boeing (NYSE 🙂 Co fell 5.2%, extending Monday's decline, as more and more countries anchored the company's best-selling line of jets following A second fatal accident in five months.
The news weighed on the actions of the airlines. The Dow Jones airline index fell 1.38%, while the industrial sector in general lost 0.44% and was the only major S & P sector in the red.
"The markets have shown strong resistance to Boeing's considerable weakness yesterday, but reports continue to report suspensions of flights by different countries and investors will pay attention," Larson said.
The world's largest slot machine maker, which is the best-performing component of Dow this year with a large margin, dropped 13.4% on Monday and weighed on the Dow Jones index.
However, Dow's "blue chip" index losses were higher than expected, and all three indices ended Monday up thanks to rising tech stocks, led by Apple Inc. (NASDAQ :).
Apple has grown 2% and is the biggest boost for the S & P and Nasdaq, after the iPhone manufacturer invited the media to an event on March 25, during which it is expected to launch a television and video service.
It was down 18.67 points, or 0.07%, to 25,632.21 points, 12.29 points, or 0.44%, to 2,795.59 points and 36.20 points, or 0. , 48%, at 7,594.27 points.
Coca-Cola (NYSE 🙂 Co posted a 0.4% decline after HSBC downgraded the soda maker's shares.
F5 Networks Inc (NASDAQ 🙂 slipped nearly 8%, the largest share of the S & P index, after the network software maker announced that it would buy the private company NGINX.
Emerging issues outnumbered declining numbers, with a 1.68 to 1 ratio on the NYSE and a ratio of 1.15 to 1 on the Nasdaq.
The S & P index posted 41 new highs over 52 weeks and a new low, while the Nasdaq recorded 38 new highs and 14 new lows.
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