Stocks finished mixed Tuesday. The Dow fell 96 points to 25,554. The S&P 500 gained 8 points to 2,791 and the Nasdaq Composite added 32 points to 7,591.
The S&P 500 and Nasadq extended gains, while the Dow declined amid continued weakness in shares of Boeing. Geopolitics garnered outsized attention as investors assessed the defeat of U.K. Prime Minister Theresa May’s revised Brexit plan. On the data front, a release showed the Consumer Price Index ticked up 0.2% in February, its first advance in four months. Core CPI (ex-food and energy) increased 2.1% year-over-year, below projections of 2.2% but above the Fed’s 2% inflation target. Another report revealed small business optimism increased modestly in February, snapping the longest losing streak since 1998.
Nine of 11 S&P 500 sectors finished in positive territory. The Industrials sector lagged as Boeing slumped 6.2% to $375.41 amid news that the U.K. and Germany were the latest countries to ground the company’s 737 Max jets. In earnings, Stitch Fix surged 25.2% to $33.78 after beating analyst earnings expectations and providing strong forward guidance. Dick’s Sporting Goods lost 11.0% to $34.60 after giving a weaker-than-expected earnings outlook.
Breadth was positive on issues by 4:3 on the NYSE and even on the Nasdaq. Composite NYSE volume was more than 3.3 billion shares.
Treasuries strengthened with the yield on the 10-year note down four basis points to 2.60%. In commodities, NYMEX WTI crude added 0.2% to $56.91/barrel. COMEX gold gained 0.8% to $1,301.40/ounce amid a weaker dollar.Daily