Stock Market News: Boeing Mulls Production Cuts; Pfizer Hikes Its Dividend
The stock market pushed upward once again on Monday morning, sending some stock indexes into record territory as market participants celebrated recent good news on the trade front. With the U.S. and China apparently having reached a preliminary deal to address at least some of their issues, investors seem to believe that the move represents just a first step toward a more comprehensive agreement. As of just before 11 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 186 points to 28,321. The S&P 500 (SNPINDEX: ^GSPC) rose 27 points to 3,196, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 92 points to reach 8,827.
Among individual stocks, there were winners and losers. Boeing (NYSE: BA) faced new challenges with its 737 MAX aircraft that have it considering production cuts for the airliner. Yet Pfizer (NYSE: PFE) made investors happy with an increase to its dividend, showing its confidence in its future.
Shares of Boeing were down more than 3%, putting a significant drag on the Dow Jones Industrials. Investors reacted negatively to news that the aerospace giant might consider halting production of its 737 MAX aircraft, at least temporarily, as it waits to try to get the airplane model back in the air.
Source Fool.com
