Stocks Opened Mixed, Boeing Dragged Dow Lower

U.S. stocks opened mixed on Monday, as a drop in shares of aerospace giant Boeing (BA) weighed on the Dow Jones Industrial Average, following a fatal crash of a 737 plane in Ethiopia. The Dow Jones Industrial Average lately fell 119.98 points, or 0.47%, to 25,330.26. The S&P 500 was up 15.61 points, or 0.57%, to 2,758.68. The Nasdaq Composite gained 71.13 points, or 0.96%, to 7,479.27.

Oil futures on Monday headed modestly higher amid reports that Saudi Arabia planned to extend efforts to reduce crude exports, according to reports. April West Texas Intermediate crude rose 35 cents, or 0.6%, to $56.42 a barrel. May Brent crude gained 46 cents, or 0.7%, to $66.20 a barrel.

Boeing (BA) shares were on track to slide more than 10% Monday morning after one of the airline’s new 737 Max 8 models crashed Sunday, killing all passengers on board and raising questions over the safety of the company’s aircrafts.

Sales at U.S. retailers rebounded slightly in January. Retail sales rose 0.2% in January, led by home centers and Internet stores, according to a government report delayed by the partial federal shutdown earlier this year.

Electric carmaker Tesla Inc backed off its plan to close all of its U.S. stores and instead will raise prices of its high-end vehicles by about 3 percent on average, as it strives for profitability. The company said late Sunday that it would now be closing only about half as many stores than initially planned in a widely criticized move earlier this month to cut overhead and shift its whole distribution network online.

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