Dow Snagged by Weak Boeing Stock
(NEW YORK) — A drop in a global aircraft manufacturer’s stock kept the Dow from taking off Wednesday.
The Dow closed down 24 points at 13,511.23. However, the Nasdaq Composite gained seven points, helped by a rebound in Apple shares (up 4.15 percent on the session). The S&P was up a fraction of a point at 1,472.63.
Boeing dropped $2.60 to $74.34, a 3.4 percent loss. Japan’s two biggest airlines have grounded their new 787 Dreamliners for safety checks after one was forced to make an emergency landing Tuesday.
Meanwhile, Moody’s is giving the higher-education sector a failing grade. The ratings agency says even prestigious, top-tier research universities are under threat from dropping enrollment, government spending cuts, and growing public doubt about the value of a college degree.
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