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The stock market reduced some losses, but the indexes remained lower in the afternoon as the Dow Jones Industrial Average continued to fall behind.
X
The Nasdaq composite and the S & P 500 both lost 0.1% after falling 0.6% and 0.4% respectively. The volume was slightly higher at the same time on Friday.
The Dow Jones Industrial Average was weaker, down nearly 0.5%. Boeing (BA) accounted for most of the decline in the Dow. Boeing's shares fell by almost 5% in volume.
On Friday night, the company announced that it was temporarily slowing the production of the Boeing 737 Max, the latest model of 737 jet airliners remaining stuck in the world and some customers reviewing their orders. With the 737 Max jets unavailable, American Airlines (AAL) extended flight cancellations until June. Shares of American Airlines eased 1.5%.
The United States, JETS (Global Jets), an ETF that tracks the actions of airlines and Boeing, lost 0.9% and was about to break a string of six-day winning streaks.
Apple (AAPL) was not the best on the Dow, but made the most interesting price move. Apple stocks exceeded the purchase point of 197.79 of a cup base with handle. But the volume was pale and the base unusually deep, about 39%. In addition, the handle has a wedge shape which is considered a weakness.
The company is looking for new ways in healthcare technology, which could help Apple overcome the slowdown in iPhone sales and bring new blood into the product line. A Morgan Stanley analyst made positive comments about Apple today and highlighted the company's advances in health technologies.
The innovative IBD 50 ETF (FFTY) was flat. ProPetro (PUMP) was his best performer. The company provides oilfield services to fracturing operators in the Permian Basin region, in and around Texas. The title is a new member of the IBD 50, while the energy sector is gaining popularity with rising oil prices. The sector is near the bottom of the 33 major IBD sectors in the IBD stocks research charts, but has risen more than 16% since January 1st.
US crude oil prices rose 1.7% to $ 64.16 per barrel, reaching their highest level since November 5th.
Imax (IMAX), the giant screen projection company, has exceeded the correct purchase threshold of 23.92 points for a cup with handle. But the volume was well below average. Imax has a low composite rating of 59.
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