Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average ended higher Monday. A decline in shares of Boeing (BA) - Get Report and a report saying that U.S.-China trade talks may be pushed back to June limited gains.
- Shares of Overstock (OSTK) - Get Reporttumbled after the discount e-tailer missed fourth-quarter expectations. Shares fell 5.3%.
- Lumber Liquidators (LL) - Get Report shares dropped 3.4% after the hardwood flooring retailer swung to a fourth-quarter loss.
Wall Street Overview
Investigators in Ethiopia said their probe into last week's deadly crash of the aircraft maker's 737 MAX 8 jet found "clear similarities" to the October crash of a Lion Air plane that killed 189 people. The Seattle Times reported that Boeing's assessment of the Maneuvering Characteristics Augmentation, or MCAS, flight control system was flawed prior to its coming to market in 2015. The stock was down 1.8% to $372.13.
Meanwhile, a meeting between President Donald Trump and his Chinese counterpart Xi Jinping may be pushed by to June as the two countries will not be able to finalize a trade agreement by April, the South China Morning Post reported, citing sources.
The Dow Jones Industrial Average rose 65 points, or 0.25%, to 25,873, the S&P 500 was up 0.37% and the Nasdaq was up 0.34%.
The Federal Reserve is scheduled to begin a two-day policy meeting on Tuesday with investors anticipating another dovish statement from Fed Chairman Jerome Powell. The Bank of England is also slated to meet this week in London.
Lumber Liquidators (LL) - Get Report shares fell 3.4% after the hardwood flooring retailer swung to a fourth-quarter loss as payouts from legal settlements regarding laminate flooring with excessive amounts of formaldehyde weighed on its bottom line.
Marriott International (MAR) - Get Report said during its annual presentation that it will look to return as much as $11 billion to shareholders over the next three years under a new business plan that includes nearly 300,000 new rooms. Shares were up 2%.
Apple (AAPL) - Get Report launched a new 10.5-inch iPad Air and updated its 7.9-inch iPad Mini. The company is scheduled to hold a media event on March 25, where it is expected to launch a television and video service, its next-generation AirPods and an AirPower wireless charging mat. Shares were up 1%.
Shares of Overstock (OSTK) - Get Reporttumbled after the discount e-tailer and blockchain company missed fourth-quarter expectations on both the top and bottom lines. Founder and CEO Patrick M. Byrne said losses in the e-commerce business "were nauseating and we reverted back to the philosophy of profitability on which we built Overstock." Shares sank 5.37%.
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