United States stocks mostly higher on tech strength; Boeing hurts Dow

US Markets News Tech Companies Shares Offset Slump in Boeing as Markets Close Higher

United States stocks mostly higher on tech strength; Boeing hurts Dow

U.S. stocks jumped on Monday as the technology sector led a broad-based rebound following five straight sessions of losses, but a fall in Boeing's shares limited the Dow's advance after a deadly airline crash in Ethiopia.

The S&P 500 index gained 8.22 points, or 0.3 per cent, to 2,791.52.

The Dow lost 96.22 points, or 0.4%, to end at 25,554.66.

The rose 14 points or 0.52%, while the tech-heavy increased 63 points, or 0.86%.

Britain's exit from the European Union hung in the balance after Attorney General Geoffrey Cox said last-minute legally binding assurances won by Prime Minister Theresa May to her divorce deal left the risk over the Irish backstop unchanged.

F5 Networks Inc slipped almost 7.4 percent, the most on the S&P index, after the network software maker said it would buy privately held NGINX.

The world's largest planemaker, which is the best performing Dow component this year by a wide margin, fell as much as 13.4 percent on Monday and dragged down the Dow Jones index.

Elsewhere, U.S. -China trade negotiations have continued this week as Chinese Vice Premier Liu He reportedly held a phone call with U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer on Tuesday, according to China's state news agency Xinhua.

Coca-Cola Co dipped 0.1 percent after HSBC downgraded the soda maker's stock. 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.

Boeing fell 12 per cent after the second deadly crash in six months involving one of its new 737 Max planes.

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

Britain joined a growing number of countries to ground the plane. More than a dozen airlines as well as the governments of China, Indonesia, Australia and Singapore have grounded the aircraft. CPI excluding the volatile categories of food and energy - considered by many to be a strong indicator of underlying inflation - rose 2.1% year-over-year, slower than the 2.2% pace anticipated.

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

The dollar strengthened to 111.29 Japanese yen from 111.21 yen on Monday. The euro advanced to $1.1256 from $1.1245.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, Mar 8, 2019.

All the major S&P sectors rose, led by gains in the technology sector, which was up 2.2 percent.

The Dow is up 2,227.20 points, or 9.5 per cent.

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